Provided by: AllBusiness.com
The way in which customers view a person's prices will affect their decision to do business with the person. This does not mean that lower prices will result in return customers. It does mean, however, that customers will see prices in regard to the level of service received. They will place a value on the whole experience. For example, a hamburger at a nice restaurant may cost $10.00, while a hamburger at a fast food restaurant typically costs around $2.00. An individual could vary the prices by a dollar but could not switch them without the fast food consumer balking and the person at the fine questioning the quality of the meet.