Pricing Is Based on Which of the Following

question 69

Multiple Choice

Pricing is based on which of the following:

• A)the ability to pay within specific market segments
• B)the price of competitive products
• C)the value perceived by the customer
• D)the cost of producing the item

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Definitions:

Control Group

In an experiment, the group that is not exposed to the treatment and is used as a benchmark to measure how the other tested subjects do.

Independent Variable

The variable in an experiment that is manipulated or changed in order to test its effects on a dependent variable.

Dependent Variable

A variable in an experiment that is expected to change in response to changes in the independent variable.

Quasi-experimental

A research design that attempts to establish cause-and-effect relationships but lacks random assignment of participants to control or experimental groups.