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Why is it difficult to determine reference prices? Consider a new pizza restaurant opening near your...

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General Management

Why is it difficult to determine reference prices? Consider anew pizza restaurant opening near your campus. What challengeswould the restaurant’s marketers encounter as they attempt todetermine their customer’s reference prices? How could they findthis information?

It is a marketing question

Answer & Explanation Solved by verified expert
4.4 Ratings (680 Votes)
Determination of the reference prices is a very difficult task for any specific company operating in the market Successful determination of these prices required proper research as well as better understanding of the market with actual understanding of the customers involved in the specific market segment Determination of the difference    See Answer
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