Which of the Following Statements Concerning "Value Pricing" Is FALSE

question 167

Multiple Choice

Which of the following statements concerning "value pricing" is FALSE?

• A) Value pricing tries to build customer loyalty.
• B) Companies using value pricing guarantee what they offer.
• C) Value pricing involves setting a fair price level for a marketing mix that meets customers' needs.
• D) Value pricing means using "budget" or "cheap" prices.
• E) The focus of value pricing is on the customer's requirements-and the whole strategy.

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Definitions:

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Permutation Test

A nonparametric statistical test method used to determine if two or more samples come from the same distribution.

P-value

A statistical measure indicating the probability of observing test results at least as extreme as those actually observed, assuming that the null hypothesis is true.

Standard Deviation

A measure that indicates the amount of variation or dispersion of a set of values from the mean (average) of that set.