Prestige Pricing Refers to

question 413

Multiple Choice

Prestige pricing refers to

• A)charging different prices to different buyers for goods of like grade and quality.
• B)setting a high price so that quality-or status-conscious consumers will be attracted to the product and buy it.
• C)setting a low initial price on a new product to appeal immediately to the mass market odd-even pricing.
• D)setting a market price for product or product class oriented on a subjective feel for the competitors' price or market price as the benchmark.
• E)setting a price that is dictated by tradition, a standardized channel of distribution, or other competitive factors.

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Definitions:

Settlement

An agreement reached by parties in a lawsuit before the case goes to trial or a final judgment is issued.

Litigation

The process of taking legal action or engaging in a lawsuit to resolve disputes between parties.

Legal Right

Entitlements or permissions under the law that can be enforced or recognized by legal institutions.

Bad Faith

Dishonest dealing, failing to meet obligations, or violating standards of honesty in transactions.