"Psychological Pricing" Involves Setting Prices Which End in Certain Numbers

question 141

True/False

"Psychological pricing" involves setting prices which end in certain numbers, while "odd-even pricing" is setting prices which have special appeal to target customers.

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Definitions:

Lewin's Approach

A model developed by Kurt Lewin that suggests behavior is a result of the individual and their environment and involves three stages: unfreezing, changing, and refreezing.

Diagnosing

The process of identifying a problem or disease based on signs, symptoms, and possibly further testing.

Deploying

The process of distributing and positioning resources or personnel for effective use or action in a specific context.

Organizational Culture

A system of shared beliefs, values, customs, behaviors, and artifacts that the members of an organization use to cope with their world and with one another.