Which of the Following Statements Is True About Customers' Interpretation

question 36

Multiple Choice

Which of the following statements is true about customers' interpretation and response to price?

• A) An internal reference price is a comparison price provided by others such as friends and relatives.
• B) An external reference price is a price developed in the buyer's mind through experience with the product.
• C) Prestige-sensitive customers are concerned about both the price and quality aspects of a product.
• D) At times, customers interpret a higher price as higher product quality.
• E) Customers do not consider the resources required to maintain a product after purchase.

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Definitions:

Retrieval Cues

Stimuli or pieces of information that help in the recovery of stored memories.

Flashbulb Memories

Vivid, detailed memories said to be produced by unexpected and emotionally important events.

Mnemonics

Memory aids or strategies that improve recall through the use of organizational techniques or visual, auditory, and other sensory cues.

Retrieval Cue

A hint or signal that helps one to recall a memory.