When People Make Decisions in Which They Only Mimic What

question 53

Multiple Choice

When people make decisions in which they only mimic what they think other people are doing, they are engaging in:

• A) purposeful behavior.
• B) enlightened self-interest.
• C) herding.
• D) mutual interdependence.

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Definitions:

Target Pricing

A pricing strategy in which the selling price of a product is determined based on the desired profit margin and market conditions.

Ultimate Consumers

The end users who purchase products or services for personal use and not for manufacturing or resale purposes.

Odd-even Pricing

A pricing strategy that involves setting prices just below a round number, e.g., $99.99 instead of $100, to make a product seem less expensive.

Target Pricing

A pricing method in which a company sets a price based on what the customer is willing to pay and then designs the product to meet that price.