Selling Chinese phones works for Nikhil because his target market is India where consumers are price sensitive and most of their decisions are based on the amount of money they have to spend. What does 'price sensitivity' mean in this regard?

Price sensitivity is the degree to which the price of a product affects consumers' purchasing behaviors

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Price sensitivity is the degree to which the price of a product is sensitive to its demand

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Price sensitivity refers to the degree to which the price of a product is changed becuase of its supply

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None of the above

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Solution

The correct option is A
Price sensitivity is the degree to which the price of a product affects consumers' purchasing behaviors

Price sensitivity is the degree to which the price of a product affects consumers' purchasing behaviours.

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Selling Chinese phones works for Nikhil because his target market is India where consumers are price sensitive and most of their decisions are based on the amount of money they have to spend. What does 'price sensitivity' mean in this regard?

The correct option is A Price sensitivity is the degree to which the price of a product affects consumers' purchasing behaviors Price sensitivity is the degree to which the price of a product affects consumers' purchasing behaviours.

The correct option is A
Price sensitivity is the degree to which the price of a product affects consumers' purchasing behaviors

Price sensitivity is the degree to which the price of a product affects consumers' purchasing behaviours.