When a Firm Is Customer Driven and Seeks to Understand

question 30

Multiple Choice

When a firm is customer driven and seeks to understand the attributes customers want in the goods and services they buy and the value of those attributes to customers, the price of the product is set at a level that seems to the customer to be a good price compared with the prices of other options. What is this strategy called?

• A)value-based pricing
• B)noncumulative pricing
• C)promotional bundling
• D)price bundling

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Definitions:

Precipitation

Any form of water, liquid or solid, that falls from clouds and reaches the ground, including rain, snow, sleet, and hail.

Geologic Histories

The study and documentation of Earth's past based on the analysis of rocks, fossils, and other geological data.

Geologic History

The sequence of significant events and changes taking place on Earth from its formation to the present, as interpreted from rock formations and other geological data.

Fossils

Remains, impressions, or traces of ancient organisms preserved in rock.