Prestige Pricing, Odd Pricing and _____ Are Three Types of Psychological

question 46

Multiple Choice

Prestige pricing, odd pricing and _____ are three types of psychological pricing strategies.

• A) portfolio pricing
• B) price skimming
• C) bundle pricing
• D) reference pricing

Grasp the concept of authority and its significance in management.

Acknowledge the interdisciplinary and evolutionary nature of management as an academic field and practice.

Identify key historical figures and their contributions to management theory and practice.

Understand the universal process approach and its assumptions regarding management in different types of organizations.

---

Definitions:

Task Interdependence

Describes the extent to which tasks in an organization require coordination and cooperation among individuals or teams to complete.

Groupthink

Is a psychological phenomenon that occurs within a group of people when the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Team Norms

Are shared expectations, behaviors, and standards that guide and regulate the conduct of team members within group settings or projects.

Consensus

A general agreement among members of a group or team, where all individuals support a decision or plan of action.