How do customers typically view pricing compared to owners/managers?

Prepare for the SQA Higher Business Management Exam. Enhance your skills with dynamic flashcards and practice questions. Explore hints and explanations to ace your exam!

Customers typically seek low prices as they are often motivated by the desire to maximize their value and minimize their costs when making purchasing decisions. This inclination for lower prices drives many customers to compare prices across competitors, searching for the best deals available. On the other hand, owners and managers may aim to increase prices based on factors such as rising costs, inflation, or to enhance profit margins. They may believe that higher prices can indicate higher quality or improve the perceived value of their product or service, which can lead to greater profitability in the long term.

This difference in perspective creates a potential conflict between the two parties: customers are looking for affordability, while owners and managers may prioritize profitability through price hikes. It's this divergence in views—customers typically favoring lower prices and owners/managers often considering price increases—that highlights why this option is the most accurate representation of their differing priorities.

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