Many Consumers Are Willing to Pay $100 for a Perfume

question 83

Multiple Choice

Many consumers are willing to pay $100 for a perfume that contains $10 worth of scent because the perfume is from a well-known brand. What kind of a pricing is the company depending on?

• A) going-rate pricing
• B) image pricing
• C) market-skimming pricing
• D) target pricing
• E) markup pricing

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Definitions:

Organizational Trust

The belief in the reliability, truth, ability, or strength of an organization, fostering a positive working environment.

Hierarchy of Needs

A theory in psychology proposed by Abraham Maslow, categorized in a five-level model of human needs, from basic physiological needs to self-actualization.

Abraham Maslow

An American psychologist best known for proposing Maslow's hierarchy of needs, emphasizing a theory of human motivation based on a hierarchy of needs.

Total Person

A holistic concept referring to the multi-dimensional nature of individuals, encompassing physical, psychological, social, and spiritual aspects.