The just noticeable difference in a price is the amount of price increase that can be taken without affecting customer demand.
Answer the following statement true (T) or false (F)
True
Both qualitative research approaches, such as focus groups, and quantitative approaches, such as surveys and experiments, can be designed to determine the degree to which an anticipated price change might influence customer response. Ideally, price changes upward will reflect the just noticeable difference (JND) in a price, which is the amount of price increase that can be taken without affecting customer demand.
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