If the Price of an Alternative Is Lower Than the Price

question 64

Multiple Choice

If the price of an alternative is lower than the price of the existing product,and customers perceive similar benefits from both the products,then the ________.

• A)switching cost is high
• B)price of the product should be increased to retain market share
• C)threat from the substitute is strong
• D)customers' bargaining power decreases

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Definitions:

Contingency Contract

A behavior modification technique where an agreement is made between two parties, outlining specific behaviors and the rewards or consequences that follow from those behaviors.

Reinforcements

In behavioral psychology, stimuli which increase the likelihood of a behavior being repeated, can be positive or negative.

Existential Therapies

A group of psychotherapies emphasizing autonomy, freedom, and the search for meaning, focusing on the human condition as a whole.

Psychotherapy Practice

The professional application of psychological methods, particularly when based on regular personal interaction, to help a person change behavior and overcome problems in desired ways.