Creating an Easy-To-Use Product

question 12

Multiple Choice

Creating an easy-to-use product:

• A) doesn't overcome unreasonable pricing.
• B) is a way to create value for customers.
• C) provides feelings of financial accomplishment.
• D) is a strategy for winning industry competitions.

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Definitions:

Odd-Even Pricing

A psychological pricing strategy where prices are set to just below a whole number to make the price appear significantly lower to consumers.

Deceptive Pricing Practices

Techniques used by sellers to mislead consumers about the true price of a product, making it seem cheaper than it actually is.

Retainer Fee

An upfront cost paid to secure the services of a consultant, freelancer, lawyer, or other professional for a specified period of time.

Barter

A system of exchange where goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money.