Prestige Pricing Refers to

question 10

Multiple Choice

Prestige pricing refers to

• A) charging different prices to different buyers for goods of like grade and quality.
• B) setting a low initial price on a new product to appeal immediately to the mass market odd-even pricing.
• C) setting a market price for a product or product class based on a subjective feel for the competitors' price or market price.
• D) setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it.
• E) setting a price that is dictated by tradition, a standardized channel of distribution, or other competitive factors.

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Definitions:

Necessity

A term that can refer to a state of being required or indispensable, or, in legal terms, a defense that asserts an act was done out of a need to prevent a greater harm.

Grant Deeds

A legal document used to transfer ownership of real property from the seller (grantor) to the buyer (grantee).

Bargain and Sell

A term used in real estate and contract law to refer to a type of conveyance or transfer of property ownership, often without the formalities of a traditional sale.

Convey

To transfer or deliver title, interest, or property from one person to another through a deed or other document.