Target Pricing Refers to

question 327

Multiple Choice

Target pricing refers to

• A)a method of selecting specific prices wholesalers and retailers are willing to pay based upon the elasticity of each given item.
• B)a method of charging different prices to maximize revenue for a set amount of capacity at any given time.
• C)the practice of simultaneously increasing product and service benefits while maintaining or decreasing price.
• D)estimating the price that ultimate consumers would be willing to pay for a product, then working backward through markups taken by retailers and wholesalers to determine what price to charge wholesalers.
• E)a method of estimating the price that ultimate consumers would be willing to pay for a product, then determining how much wholesalers wish to charge its customers, deliberately adjusting the composition and features of the product to achieve the price to consumers.

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Definitions:

Hypnosis

A trance-like state of focused attention and reduced peripheral awareness, characterized by an enhanced capacity for response to suggestion.

Consciousness

The quality or state of awareness, or, of being aware of an external object or something within oneself.

Awareness

The state or ability to perceive, to feel, or to be conscious of events, objects, or sensory patterns.

Sociocognitive Theory

A theory that emphasizes the role of social interaction, cognition, and behavior in learning.