Pice sensitivity is the degree to which demand changes when the cost of a product or service changes. Price sensitivity is commonly measured using the price elasticity of demand, which states that some consumers won’t pay more if a lower-priced option is available. Price sensitivity determines the amount of value you’re creating in your product by revealing your customer’s willingness to pay. This focuses on the best way to position your product in terms of price and quality. Price sensitivity gives an understanding of how well your product development efforts have gained trust and willingness to re-purchase among consumers.

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