Since Consumers Have the Tendency to Compare Prices on Almost

question 145

Multiple Choice

Since consumers have the tendency to compare prices on almost everything they buy,marketers setting prices should attempt to capitalize on this tendency by determining the price consumers will consider fair and reasonable for a product.This is known as the

• A)reference price.
• B)reasonable price.
• C)break-even point.
• D)dynamic price.
• E)benchmark pricE.

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Definitions:

Squint

A condition where the eyes do not properly align with each other when looking at an object, leading to uncoordinated eye movements.

Opponent Process Theory

A theory of color vision and visual processing that proposes color perception is controlled by the activity of two opponent systems: a blue-yellow mechanism and a red-green mechanism.

Afterimage

A visual phenomenon where an image continues to appear in one's vision after the exposure to the original image has ended.

Subtractive Colour Mixing

A process of mixing colors by removing wavelengths of light, resulting in a color that is a mixture of the two or more source colors, typical in pigment mixing.