Business A-Level
Price premium and willingness to pay
What Price premium and willingness to pay means in Business A-Level, as defined for AQA.
Definition of Price premium and willingness to pay
Check what you remember
Read the wording for your board, then hide it and explain Price premium and willingness to pay in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Certification such as Fairtrade or a recycled packaging claim can support a higher price, but judgement depends on whether the target segment will actually pay.
Topics that use Price premium and willingness to pay
- Marketing management (AQA A-Level)
Related terms
- application to a named business
- capacity utilisation
- Cash flow and working capital
- Contribution and break-even
- cost leadership
- differentiation
- digital marketing
- Dynamic pricing
Using Price premium and willingness to pay in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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