Creating a Perception About Price Merely from the Image the Numbers

question 38

Multiple Choice

Creating a perception about price merely from the image the numbers provide the customer demonstrates ___________________.

• A)Psychological pricing
• B)One-price strategy
• C)Variable pricing
• D)Everyday low pricing (EDLP)
• E)High/low pricing

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Definitions:

Consumer Purchases

Transactions made by individuals or households for items that fulfill their personal needs or desires, as opposed to business or commercial buying.

Demographics

Statistical data relating to the population and particular groups within it, often used for targeting in marketing and research.

Sociocultural Analysis

The study of social and cultural factors and their influence on consumer behavior or social trends.

Millennials

The generational cohort born approximately between 1981 and 1996, noted for their familiarity with digital technologies and value on work-life balance.