Prestige Pricing (Setting a High Price to Convey an Image

question 46

True/False

Prestige pricing (setting a high price to convey an image of high quality or uniqueness) is a pricing tactic that reflects competitive advantage.

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Definitions:

Observational Learning

The process of learning behaviors by watching and imitating others, also known as modeling or social learning.

Positive Reinforcement

A behavioral strategy that involves adding a stimulus after a behavior to increase the likelihood of that behavior being repeated.

Negative Reinforcement

A process in operant conditioning where a response or behavior is strengthened by stopping, removing, or avoiding a negative outcome or aversive stimulus.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a pause, without further conditioning.