Why is pricing important for businesses?
— Pricing is important for businesses as it greatly impacts profitability and market share.
What is the zone of potential agreement?
— The zone of potential agreement is the gap between the buyer's desired price and the seller's desired price.
How does the reference price influence the zone of potential agreement?
— The reference price, which is the price at which the nearest competitor is selling their products, influences the zone of potential agreement between buyer and seller.
What factors impact the customer's willingness to pay?
— Factors such as the availability of alternatives and the emotional benefits derived from a product impact the customer's willingness to pay.
Why is personal interaction important in the B2B market?
— Personal interaction is important in the B2B market due to the customized and expensive nature of the products.
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