Showing a Product's Price Along with Its Previous Price, the Price

question 184

Multiple Choice

Showing a product's price along with its previous price, the price of a competing brand, or the price at another retail outlet is called

• A) competition-based pricing.
• B) reference pricing.
• C) comparison discounting.
• D) captive pricing.
• E) psychological pricing.

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Definitions:

Relearning

The process of learning material or skills that were once learned and then forgotten, which often requires less time than the initial learning.

Short-Term Memory

The part of the memory system that is responsible for temporarily holding small amounts of information in an active, readily available state for a short period of time.

Explicit Memory

A type of long-term memory involving the conscious recall of facts and experiences.

Implicit Memory

Refers to the unconscious memory of skills and how to perform tasks.