A Pricing Approach That Is Based on the Buyer's Perceptions

question 101

Multiple Choice

A pricing approach that is based on the buyer's perceptions rather than the seller's costs is known as which of the following?

• A) performance- based approach
• B) competition- based approach
• C) value- based approach
• D) relationship approach
• E) cost- based approach

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Definitions:

Habituation

The decreasing response to a stimulus with repeated exposure, leading to less attention or reaction to that stimulus over time.

Ingestional Neophobia

The avoidance of novel foods.

Dishabituation

The recovery of a habituated response as the result of the presentation of a sensitizing stimulus

Sensitization

An increased reaction to a stimulus following repeated exposure, particularly to something intense or adverse.