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In which one of the following service products, price sensitivity of the customers is low?
Question



In which one of the following service products, price sensitivity of the customers is low?

A.

Car rentals

B.

Transport

C.

Medical services

D.

Retailing

Correct option is C

In the context of price sensitivity, customers' responsiveness to changes in price, certain service products tend to have lower price sensitivity compared to others. Medical services, such as healthcare treatments and procedures, often have low price sensitivity. This is because medical services are usually considered essential and necessary for maintaining health and well-being. As a result, customers are generally less price-sensitive when it comes to medical services and are willing to pay higher prices to receive the required healthcare.
On the other hand, products like car rentals, transport services, and retailing generally have higher price sensitivity. Customers in these industries tend to be more price-conscious and compare prices among different providers to find the best deal.

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