The Decision of Sears to Use Odd Prices Such as $59.99

question 128

Multiple Choice

The decision of Sears to use odd prices such as $59.99 for a Craftsman drill is an application of ____, where prices are often used to _____.

• A)odd-number pricing; increase sales because customers register the dollar amount, not the cents
• B)customary pricing; show customers products are priced based on tradition
• C)price skimming; give a product an upscale or exclusive image
• D)reference pricing; make it easier for consumers to compare
• E)everyday low prices; facilitate comparison to competitors' prices

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Definitions:

Personal Attention

This refers to focusing care or consideration on someone, tailoring responses or actions to their specific needs or preferences.

Halo Effect

A cognitive bias where one's overall impression of a person influences how we feel and think about their character or properties.

Single Attribute

A single attribute refers to a specific feature, quality, or characteristic of an object, person, or situation that can be identified individually.

Overall Impression

The cumulative perception or judgment formed about something or someone based on various individual attributes, experiences, or interactions.