When Establishing Prices, It's Important for a Manager to Understand

question 93

Multiple Choice

When establishing prices, it's important for a manager to understand that "good value" is not the same as ________.

• A) "low price"
• B) "high price"
• C) "bargain basement"
• D) "perceived value"
• E) "everyday value"

---

Definitions:

Personal Disposition

An individual's inherent qualities of mind and character.

Social Situation

any scenario in which individuals interact with each other, involving the exchange of information or communication.

Friendly

Characterized by kindness, warmth, and approachability; displaying amicable behavior towards others.

Cognitive Dissonance Theory

A theory suggesting that inconsistency among beliefs, attitudes, and behaviors causes discomfort, leading individuals to adjust them to reduce the discomfort.