You Notice That the Pigeon in the Laboratory You Just

question 19

Multiple Choice

You notice that the pigeon in the laboratory you just entered has a particular way of pecking at the key in its cage. The pigeon seems to increase its rate of pecking towards the end of a two minute period, food is made available, and then pecking slows until the end of the next two minutes.You surmise that the pigeon is on a

• A)fixed ratio schedule.
• B)variable ratio schedule.
• C)fixed interval schedule.
• D)variable interval schedule.

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Definitions:

Prestige Pricing

Setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it.

Quality

The level at which a product or service achieves or outdoes the expectations of customers.

Status-conscious Consumers

Consumers who make purchasing decisions based on the perceived status or prestige associated with a product or brand.

Penetration Pricing Policy

A business strategy where the initial product price is set very low to gain market share quickly.