Julia, Owner of Julia's Craft Supply Store Would Like to Take

question 28

Short Answer

Julia, owner of Julia's Craft Supply Store would like to take advantage of the fact that customers are not completely rational when making buying decisions and may prefer prices that are not stated in even dollar amounts. Which pricing tactic is she interested in?
Discounting
Price skimming
Psychological pricing
Skewed pricing
Price lining

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Definitions:

Behavioral

Relating to or concerning the actions or reactions of a person in response to external or internal stimuli.

Existential

Pertaining to existence, particularly human existence and its inherent concerns, conditions, or philosophy.

Cognitive

Relating to the mental processes of perception, memory, judgment, and reasoning, as opposed to emotional or volitional processes.

Behavioral

Pertaining to the actions or reactions of a person or animal in response to external or internal stimuli.