Mary's Bakery Is Trying to Determine What Price to Charge

question 6

Multiple Choice

Mary's Bakery is trying to determine what price to charge for its cookies,so Mary places a low price on them and raises it each week,keeping track of how many she sells.Then she determines what her cost was for the cookies and determines which price was the most profitable.What form of research was Mary conducting?

• A) observation
• B) survey
• C) scanner-based
• D) an experiment
• E) a panel

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Definitions:

Brand Names

Distinctive titles given to products or services by companies to differentiate them from competitors.

Intangibility

A characteristic of services that cannot be seen, touched, or measured before they are bought.

Off-Peak Pricing

Pricing strategy that offers lower prices during times of decreased demand to stimulate consumption.

Capacity Management

Integrating the service component of the marketing mix with efforts to influence consumer demand.