Which of the Following Statements Regarding Retail Pricing Is Most

question 313

Multiple Choice

Which of the following statements regarding retail pricing is most accurate?

• A)Consumers will often base their perceptions of a store's prices on a benchmark of the highest priced item in the store.
• B)Consumers are influenced more by a store's ambiance than its product prices.
• C)Stores that offer rebates and take an excessive amount of time to process them, often create negative consumer perceptions.
• D)New technology has almost made shrinkage a thing of the past.
• E)The only difference between everyday low pricing and everyday fair pricing is whether the store sells food or non-food items.

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Definitions:

Product Development

The process of creating or improving a product or service to meet market demands or take advantage of new opportunities.

Test Marketing

A strategy that involves launching a product in a limited market to gauge consumer response before a wider release.

Planned Obsolescence

A practice in which companies frequently come out with new models of a product that make existing models obsolete.

Diffusion

The process by which a product is adopted and spreads across various types of adopters.