While Watching Television, You See an Advertisement for a Microwave

question 5

Multiple Choice

While watching television, you see an advertisement for a microwave pasta cooker. You're interested but are sure it is going to be too expensive, and you wouldn't pay over $20 for it. To your surprise, the pasta cooker is being offered for the low price of $19.99. This is an example of what type of pricing strategy?

• A) product-line pricing
• B) new-product pricing
• C) psychological pricing
• D) promotional pricing

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Definitions:

Primary Management Function

Primary management functions include planning, organizing, leading, and controlling, which are essential for achieving organizational goals.

Planning

The process of setting goals, defining strategies, and outlining tasks and schedules to accomplish these goals.

Managerial Position

A role within an organization responsible for overseeing operations, making decisions, and managing employees to achieve company objectives.

Flexible Work Schedules

Work arrangements that allow employees to vary their arrival and departure times, and/or choose their working hours, to accommodate personal needs and improve work-life balance.