The Decision of Macy's to Use Even Prices Such as $60

question 182

Multiple Choice

The decision of Macy's to use even prices such as $60 for a Ralph Lauren Polo is an application of ____, where ____ prices are often used to _____.

• A) odd-even pricing; even; give a product an upscale or exclusive image
• B) odd-even pricing; odd; show customers products are priced based on tradition
• C) prestige; premium; give a product an upscale or exclusive image
• D) prestige; even; make it easier for consumers to compare
• E) odd-even; even; facilitate comparison to competitors' prices

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Definitions:

Mood Contagion

The phenomenon where one person's mood or emotional state triggers similar moods or emotions in others around them.

Social Loafing

The phenomenon of individuals making less effort to achieve a goal when they work in a group than when they work alone.

Conformity

The act of matching attitudes, beliefs, and behaviors to group norms, politics, or being consistent with the accepted standards in a society.

Cognitive Dissonance

A psychological discomfort experienced when holding two or more conflicting beliefs, values, or attitudes.