Internal Reference Prices Are Formed from Advertising,past Purchasing Experience,and So

question 45

Multiple Choice

Internal reference prices are formed from advertising,past purchasing experience,and so on,and are often called ________ because the customer considers them the actual prices of the products in a category.

• A)competitive prices
• B)perceived prices
• C)price points
• D)ceiling prices

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Definitions:

Survival

The ability to continue living or existing, especially under adverse or unusual conditions.

Sociocultural Theory

Vygotsky’s theory of how contextual factors affect children’s development.

Cognitive Skills

Abilities related to the processing of information, such as thinking, reasoning, problem-solving, and memory.

Active Involvement

The state of being engaged or participating directly and energetically in an activity or task.