What characteristics of the product are important in pricing? Please select ALL answers deemed correct Unit price. High-priced products such as holidays and cars are evaluated in greater detail in terms of the consumers perceptions of value for money, and so, for example, reliability, style and features of cars are extremely important to consumers besides price. Degree of comparability. Consumers are less price-conscious about insurance policies than grocery products, because the alternatives are more difficult to compare. Price-setting is particularly difficult in certain services, such as advertising, consultancy and accountancy, which have a different perceived value from country to country. Frequency of purchase. Frequently purchased products, for example baby food, petrol, tea and bread, tend to be very price-sensitive in all international markets, whereas occasional purchases are not. Degree of unencessity. If a product is not essential for its users, price changes are likely to affect the market size, except in countries where extreme poverty does not exists and people can afford the basic necessities. Degree of fashion or status. The high prices of luxury goods are seen as establishing their quality and it is usually the goods that have a prestige image, often created in other countries, which are not price-sensitive