Bernard Hinault Makes the Most Expensive Bicycles in the World

question 171

Multiple Choice

Bernard Hinault makes the most expensive bicycles in the world.Its target market is people who willingly pay $8,000 or more for their bicycles.If Bernard Hinault were to lower prices to target customers who want a good bike but who can't or won't spend that much for one,which type of pricing objective would it most likely use?

• A)inelastic or supply oriented
• B)market share or sales maximization
• C)profit maximization or target return on investment
• D)demand oriented or supply oriented

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Definitions:

Classical Conditioning

A learning process where a neutral stimulus becomes associated with a meaningful stimulus and acquires the capacity to elicit similar responses.

Psychoanalytic

A therapeutic approach and psychological theory focused on healing mental illnesses by exploring the dynamics between the conscious and unconscious aspects of the psyche.

Thematic Apperception Test

A projective psychological test that assesses an individual's underlying motives, concerns, and life perspectives through the stories they create about ambiguous pictures.

Projective Test

A type of personality test designed to let a person respond to ambiguous stimuli, potentially revealing hidden emotions and internal conflicts.