Some Consumers Maintain a Price-Quality Association,meaning That If a Product

question 57

Multiple Choice

Some consumers maintain a price-quality association,meaning that if a product has a high price,they assume the product must have high quality.This price-quality association is the basis for the use of

• A)odd-even pricing.
• B)prestige pricing.
• C)leader pricing.
• D)reference pricing.
• E)price lining.

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Definitions:

Square Feet

A unit of area measurement equivalent to a square measuring one foot on each side.

Mixed Numbers

Numbers consisting of an integer and a fraction together, representing a value greater than or equal to one.

Improper Fractions

A type of fraction where the numerator (top number) is greater than or equal to the denominator (bottom number), resulting in a value equal to or greater than one.

Lowest Terms

The most basic version of a fraction, in which both the top number (numerator) and bottom number (denominator) are minimized to their lowest possible values.