The Manufacturer of Safety Wallets Is Determining the Retail Price

question 113

Multiple Choice

The manufacturer of safety wallets is determining the retail price to charge for each unit sold. Which approach should the manufacturer use that supports the psychological pricing strategy? ​

• A) Set the price at $24.97
• B) Set the price at $25.00 for the first item and $5 for the second
• C) Set the price according to the number of unrelated products sold
• D) Set the price according to the number of variations of the wallet style
• E) Set the first unit sold at full price and the second purchased at half price

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Definitions:

Cosmopolites

A term referring to individuals who are comfortable and adept at navigating and embracing the cultures, beliefs, and practices of various parts of the world.

Little Havana

A neighborhood in Miami known for its strong Cuban cultural influence.

Habermas

Habermas is a reference to Jürgen Habermas, a German sociologist and philosopher known for his theories on communicative rationality and the public sphere.

Marcuse

Marcuse refers to Herbert Marcuse, a German-American philosopher, sociologist, and political theorist known for his critiques of capitalist society and advocacy for radical social changes.