Which factors affect the price of a smartphone app? Select all that apply.
(1 point)
Responses
price of similar apps
price of similar apps
price of compatible phones
price of compatible phones
price of offline activities
price of offline activities
time scarcity among consumers
time scarcity among consumers
opportunity costs of consumers
price of similar apps
price of compatible phones
time scarcity among consumers
opportunity costs of consumers
The factors that affect the price of a smartphone app are:
1. Price of similar apps
2. Price of compatible phones
3. Time scarcity among consumers
4. Opportunity costs of consumers
To determine which factors affect the price of a smartphone app, we need to look for information about pricing strategies and market analysis. Here are some factors that can influence the price of a smartphone app:
1. Price of similar apps: Pricing can be influenced by the prices of similar apps in the market. Developers often take into consideration the competition and adjust their prices accordingly to be competitive.
2. Price of compatible phones: The price of a smartphone app can be influenced by the cost of the phones that it is compatible with. If the target market primarily uses higher-end smartphones with higher price tags, the app's pricing may reflect that.
3. Price of offline activities: If the smartphone app offers offline activities, such as downloadable content or features that can be used without an internet connection, the cost of developing and providing these activities can affect the app's price.
4. Time scarcity among consumers: The concept of time scarcity refers to the limited time that consumers have available to engage with apps or other activities. If a particular app offers time-saving features or unique value that saves time for users, it may justify a higher price.
5. Opportunity costs of consumers: The opportunity cost represents the value of the alternatives foregone when making a choice. The price of a smartphone app can be influenced by the perceived value and the trade-off users are willing to make by investing in the app instead of other alternatives.
To answer the question, the factors that affect the price of a smartphone app include the price of similar apps, the price of compatible phones, the price of offline activities, time scarcity among consumers, and the opportunity costs of consumers.