A Retailer Decides to Reduce the Price of a Sport

question 51

Multiple Choice

A retailer decides to reduce the price of a sport coat that normally costs $98. The reduction in price is $3. The storeowner believes that the reduction will catch the eye of the value shopper. If the sport coat does not sell, the retailer might wish to consider which of the following before making another price change?

• A) subliminal perception
• B) the figure-ground principle
• C) the golden triangle
• D) Weber's Law

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Definitions:

Testimonials

Statements made by satisfied customers to endorse a product or service, highlighting its quality and their positive experience.

Central Selling Point

The central selling point is the unique advantage or benefit of a product or service that makes it stand out from competitors and appeals to customers.

Persuasive Requests

Communications intended to influence the attitudes or actions of others towards a specific outcome or decision.

Anticipate Resistance

The act of foreseeing and preparing for objections or opposition in the context of persuasion or proposal.