A Retail Store Advertises an SLR Digital Camera for $350

question 179

Multiple Choice

A retail store advertises an SLR digital camera for $350. Once bargain hunters come to the store, salespeople point out the disadvantages of the low-priced camera and try to convince them to trade up to a better, and more expensive, unit. This is an example of

• A) price following.
• B) bait pricing.
• C) odd-even pricing.
• D) low pricing.
• E) everyday low pricing.

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Definitions:

Naturalist

A person who studies or is an expert in the field of natural history, particularly in the study of plants and animals in their natural environment.

Culture Biased

The tendency to interpret or judge phenomena through the lens of one's own cultural norms and values.

Culture Fair

Designed to be impartial and free from cultural bias, often referring to tests that aim to assess intelligence or aptitude without favoring any group.

Common

Refers to something that is usual, frequent, or shared by multiple people.