Most Retail Outlets Tell Customers an Item's Original Price, in Addition

question 41

Multiple Choice

Most retail outlets tell customers an item's original price, in addition to the sale price, to get customers to believe they are getting a good price. Retail managers are using which of the following heuristics?

• A) The availability bias.
• B) The representativeness heuristic.
• C) The anchoring and adjustment heuristic.
• D) All answers are correct.

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Definitions:

Pitch

The perceived frequency of a sound, determining how high or low the sound is.

Gestalt Psychologists

Scholars who emphasize that the mind tends to perceive objects as part of a greater whole and as elements of more complex systems.

Visual Perception

The ability to interpret and make sense of visual information from the environment through the process of sight.

Absolute Sensory Threshold

The minimum intensity of a stimulus that is required for a person to detect its presence 50% of the time.