A Firm Uses Customer Orientation When It Sets Its Pricing

question 55

Multiple Choice

A firm uses customer orientation when it sets its pricing strategy based on how it can add value to its products or services. A "no haggle" pricing policy is a type of ________ pricing strategy.

• A) maximizing profits
• B) sales orientation
• C) target return
• D) status quo
• E) customer-oriented

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Definitions:

Free Nerve Endings

Sensory nerve fibers terminating in the skin without any specialized structures, responsible for detecting pain, temperature, and touch.

Merkel Cells

Specialized skin cells involved in the sensation of touch.

Replenishment Cycle

The process and timeline involved in ordering and receiving new stock to replace sold or used inventory.

Expected Shortage

Expected shortage refers to the anticipated shortfall in inventory due to higher demand than the supply available.