________ Involves Taking Advantage of the Fact That Consumers Do

question 441

Multiple Choice

________ involves taking advantage of the fact that consumers do not always respond rationally to stated prices.

• A) Price differentiation
• B) Penetration pricing
• C) Psychological pricing
• D) Price skimming

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Definitions:

Occupation

A person's job or profession, often defining one's skills and economic contribution.

Income

The monetary amount received on a regular basis for work or through investments.

Digital Natives

Individuals who have been exposed to digital technologies from an early age, making them highly familiar and comfortable with digital communication and media.

Technological Advances

Macroenvironmental factor that has greatly contributed to the improvement of the value of both products and services in the past few decades.