Julia, Owner of Julia's Craft Supply Store Would Like to Take

question 68

Multiple Choice

Julia, owner of Julia's Craft Supply Store would like to take advantage of the fact that customers are not completely rational when making buying decisions and may prefer prices that are not stated in even dollar amounts. Which pricing tactic is she interested in?

• A) Discounting
• B) Price skimming
• C) Psychological pricing
• D) Skewed pricing
• E) Price lining

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Definitions:

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus.

Congruent

Corresponding in character or kind; in agreement or harmony.

Unchangeable

Something that cannot be altered, modified, or affected by external forces or actions.

Self-concept

An individual's awareness and understanding of their own personality, skills, and traits, forming the basis of their identity.