Prestige Pricing Objectives Emphasize

question 214

Multiple Choice

Prestige pricing objectives emphasize:

• A)quality and exclusivity.
• B)revenue maximization.
• C)cost minimization.
• D)sales maximization.

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Definitions:

Zone Of Tolerance

The area between customers’ expectations regarding their desired service and the minimum level of acceptable service—that is, the difference between what the customer really wants and what he or she will accept before going elsewhere.

Standards Gap

The difference between the quality standards set by a company for its products or services and the actual performance perceived by customers.

Communications Gap

A situation where there is a difference or conflict between the message sent and the message received, often leading to misunderstanding.

Knowledge Gap

The difference between what is known and what needs to be known to effectively understand or perform an activity.