The Degree to Which the Price of a Product Affects

question 77

Multiple Choice

The degree to which the price of a product affects consumers' purchasing behavior is referred to as

• A)dynamic pricing.
• B)price sensitivity.
• C)marginal pricing.
• D)price elasticity.
• E)price relevance.

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Definitions:

Behavior

The actions, reactions, or functioning of an individual or system in response to external or internal stimuli.

Emotional Needs

The psychological requirements for well-being, such as feeling loved, valued, and a sense of belonging.

Daily, Repetitive Tasks

Routine activities or chores that are performed on a regular basis, often daily, as part of one’s personal or professional life.

Responsibility

The obligation to carry out duties or tasks satisfactorily and being accountable for the outcomes.