Dag Runs a Hardware Store

question 70

Multiple Choice

Dag runs a hardware store. He learned that customers process the price of $9.99 as significantly lower than the price of $10.00 because of the reduced digit count in the price point. Accordingly, he follows this rule to set up the prices for all products. Dag uses a ________ strategy.

• A) psychological pricing
• B) one-price strategy
• C) variable pricing
• D) everyday low pricing (EDLP)
• E) high/low pricing

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Definitions:

Role Models

Individuals admired for their qualities or achievements, who serve as a source of inspiration and example for others.

Self-objectification

The tendency to view oneself primarily as an object to be looked at and judged based on appearance.

Self-affirmation

is the practice of reminding oneself of personal values and beliefs to maintain self-integrity and reduce the impact of threats.

Confirm Negative Stereotype

The act of behaving in a way that supports harmful, oversimplified beliefs or ideas about a group, reinforcing existing prejudices.