Price Lining Refers to

question 302

Multiple Choice

Price lining refers to

• A) charging different prices to different buyers for goods of like grade and quality.
• B) setting a low initial price on a new product to appeal immediately to the mass market.
• C) setting a market price for a product or product class based on a subjective feel for the competitors' price or market price as the benchmark.
• D) setting prices a few dollars or cents under an even number.
• E) setting the price of a line of products at a number of different specific pricing points.

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Definitions:

Forming

The initial stage of team development where members meet, form initial impressions, and establish team norms and structures.

Norming

is a stage in team development where members resolve their differences, appreciate colleagues' strengths, and establish norms and cohesiveness.

Performing

The fourth stage of group development, characterized by high levels of productivity, cohesion, and effective functioning towards achieving goals.

Adjourning

The final stage in Tuckman's group development model, where the team disbands after achieving its goals, also characterized by reflection on accomplishments and learned lessons.