When Marketers Establish a Price Floor and a Price Ceiling

question 87

Multiple Choice

When marketers establish a price floor and a price ceiling for an entire line of similar products and then set price points in between for differences in quality among the products,they are using a _______ pricing approach.

• A) loss leader
• B) zone
• C) price bundling
• D) price skimming
• E) price lining

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Definitions:

Dependent Variable

In an experiment, it is the variable being tested and measured, affected by the manipulation of the independent variable.

Focal

Focal refers to being concentrated on a specific area or point, often used in contexts like focal point in art or a focal seizure where disturbances are localized in one part of the brain.

Independent Variable

The factor in a study that the scientist alters to examine its impact on the outcome variable.

Control

The capacity to affect how people act or the progression of occurrences.