Which of the Following Is an Example of Anchoring in Retail

question 165

Multiple Choice

Which of the following is an example of anchoring in retail prices?

• A) Price tags on the merchandise list a "high" price that is charged at a competing retailer and the a much lower price that the store actually charges.
• B) An appliance store lists a commercial-quality coffee maker that has high capacity and is very expensive, and all of the other coffee makers are smaller and less expensive.
• C) Restaurant menus include a premium entree like a steak and lobster dinner that is very expensive, and all of the other entree choices are priced at lower values.
• D) all of the above

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Definitions:

Succession Planning

The process of identifying and developing new leaders who can replace old leaders when they leave, retire or pass away.

Save Money

Strategies or actions taken to reduce costs and expenditures, optimizing resource use to improve financial health.

Grooming

The practice of cleaning and maintaining one's appearance for social or professional reasons.

Successor

An individual who follows another in a specific role or position, often as a result of planned succession or replacement.