Pricing a Product Based on Consumers' Reference Prices Is Referred

question 48

Multiple Choice

Pricing a product based on consumers' reference prices is referred to as ________ pricing.

• A) geographical
• B) psychological
• C) allowance
• D) by-product
• E) captive-product

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Definitions:

Redirect

A strategy used to change the direction of a behavior or conversation towards a more desirable outcome.

Anger

An emotional state that varies in intensity from mild irritation to intense fury and rage, often triggered by perceived wrongs or frustrations.

Mirror

An object that reflects light in such a way that, for incident light in some range of wavelengths, it reflects an image of what is in front of it.

Sad

A feeling characterized by sorrow, disappointment, or unhappiness.