Target Pricing Refers to

question 288

Multiple Choice

Target pricing refers to

• A) a method of selecting specific prices wholesalers and retailers are willing to pay based upon the elasticity of each given item.
• B) a method of charging different prices to maximize revenue for a set amount of capacity at any given time.
• C) the practice of simultaneously increasing product and service benefits while maintaining or decreasing price.
• D) a method of estimating the price that ultimate consumers would be willing to pay for a product, then working backward through markups taken by retailers and wholesalers to determine what price to charge wholesalers.
• E) a method of estimating the price that ultimate consumers would be willing to pay for a product, then determining how much wholesalers wish to charge its customers, deliberately adjusting the composition and features of the product to achieve the price to consumers.

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Definitions:

Systematic Desensitization

A behavioral therapy technique used to reduce phobias through gradual exposure to the feared object or situation paired with relaxation techniques.

Person-Centered Therapy

A therapeutic approach founded by Carl Rogers that emphasizes an individual's self-worth and values being at the center of the therapy process.

Cognitive Consistency

A psychological theory that suggests individuals are motivated to maintain consistency between their beliefs, attitudes, and behaviors to reduce mental discomfort or dissonance.

Systematic Desensitization

A behavioral therapy technique used to reduce fear, anxiety, or aversions through gradual exposure to the feared object or situation combined with relaxation exercises.