price of product can be referred as
a product post
b brand value
C value of utility from customer
D promotion cost
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brand value is yr answer
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The price of the product can be referred to as the value of utility from the customers. Option(c) is the correct answer.
- The price of any product or goods is the price that the consumer will pay for the product. It is taken as a measurement system to measure the value of that product for its consumer.
- The price of the depend mostly on its price and demand. This means that when demand increases, the value of utility for customers increases. Costumers are willing to pay more price for the same product and price increase. Similarly, when the demand decreases, the price also increases.
- Price and demand are indirectly proportional to each other.
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