In which one of the following service products, price sensitivity of the customers is low?
In essential, high-credence professional services such as 'medical services', customers prioritise clinical expertise, health outcomes, and urgency over price, resulting in…
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In which one of the following service products, price sensitivity of the customers is low?
Answer and explanation
Correct answer C
In essential, high-credence professional services such as 'medical services', customers prioritise clinical expertise, health outcomes, and urgency over price, resulting in very low price sensitivity (inelastic demand) compared to standardised services like car rentals, transport, or retailing.
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UGC NET Commerce