In a Store, an Item Is Priced Extremely Low by a Dealer

question 11

Multiple Choice

In a store, an item is priced extremely low by a dealer, but the salesperson points out the disadvantages of the item and switches customers to items of higher quality and price. What is this pricing policy called?

• A) Leader pricing
• B) Prestige pricing
• C) Bait pricing
• D) Odd pricing

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Definitions:

Best Practices

Best practices are the methods or techniques that have been generally accepted as superior to alternatives because they produce results that are superior to those achieved by other means.

Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other companies.

Incorporate Ideas

The process of taking suggestions, concepts, or viewpoints and integrating them into a project or plan.

Benchmarking

Benchmarking involves assessing a company's procedures and performance measures by contrasting them with the best in the sector or exemplary practices of various corporations.