The Iceberg Metaphor Shows That Many Customers Try to Negotiate

question 4

Multiple Choice

The iceberg metaphor shows that many customers try to negotiate on price because:

• A)price is often inflated to attempt to maximize profits for the company
• B)price is the most easily quantifiable characteristic of any product
• C)they were trained to negotiate on price and price alone
• D)they feel that they are not fulfilling their duties as buyers if they do not attempt to get lower prices
• E)they do not realize that other factors,such as service and terms,can be more important to long-term satisfaction

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Definitions:

Working Conditions

The environment and circumstances under which employees complete their job tasks, including physical space, hours, and social aspects.

Intrinsic Rewards

The internal satisfaction and joy derived from performing an activity or achieving a goal, rather than from any external benefits or rewards.

Hierarchy of Needs

A theory in psychology proposed by Abraham Maslow, suggesting humans are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization.

Theory X

A management theory suggesting that employees are naturally unmotivated and dislike work, implying the need for control and direction.