The New Age Gallery Has Three Admission Prices for Students

question 144

Multiple Choice

The New Age Gallery has three admission prices for students, adults, and seniors, even though all three groups are entitled to the same services. This form of pricing is called ________ pricing.

• A) psychological
• B) product form
• C) customer-segment
• D) captive product
• E) by-product

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Definitions:

Concept Test

A research technique used to evaluate consumer response to a product idea before it is marketed, by presenting the concept in a detailed, simulated market scenario.

Marketing Professionals

Individuals who specialize in the study, design, and management of marketing processes and strategies.

Potential Product

A concept in marketing that refers to all the possible enhancements and improvements that a product might undergo to meet future needs or untapped market segments.

Market Testing

The process of evaluating the viability of a new product or service through controlled customer exposure, gathering feedback before a full-scale launch.