Which of the Following Is a Psychological Factor Affecting Pricing

question 12

Multiple Choice

Which of the following is a psychological factor affecting pricing decisions?

• A) Expected consumption rates of potential buyers
• B) Location of potential buyers
• C) Chances of a buyer being favorably attracted by odd pricing
• D) Economic strength of potential consumers

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Definitions:

Social Influence

Social Influence encompasses the changes in attitude, belief, or behavior caused by real or imagined pressure from others.

Theory Comparison

The process of examining and evaluating the differences and similarities between two or more theoretical approaches.

Personality System

An organized set of psychological traits and mechanisms within the individual that is influenced by both genetic and environmental factors and shapes an individual's interactions and adaptations to their environment.

Internal Motivation

The drive to engage in activities for inherent satisfaction or reward, rather than external incentives or pressures.