The Iceberg Metaphor Shows That Many Customers Try to Negotiate

question 29

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 satisfaction in the long-haul

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Definitions:

Germany

A country in Central Europe known for its rich history, technological advancements, and significant contributions to arts, sciences, and philosophy.

Industry-wide bargaining

Negotiation processes between unions and employers across an entire industry, setting standard employment terms.

Employer federations

Organizations representing the collective interests of employers in negotiations and policy discussions with labor unions and governments.

Employer associations

Organizations formed by employers to promote their collective labor relations interests, which can include bargaining with unions or lobbying for favorable legislation.