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Claudia Geer, Controller, Discusses the Pricing of a New Product

question 192

Essay

Claudia Geer, controller, discusses the pricing of a new product with the sales manager, James Nolan. What major influences must Claudia and James consider in pricing the new product? Discuss each briefly.


Definitions:

Extinction

In psychology, the gradual weakening of a conditioned response when the conditioned stimulus is repeatedly presented without the unconditioned stimulus.

CS

In the context of classical conditioning, CS stands for Conditioned Stimulus, which is a neutral stimulus that, after being repeatedly paired with an unconditioned stimulus, begins to evoke a conditioned response.

Discrimination

The unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.

Classical Conditioning

A teaching method that employs the repetitive pairing of two stimuli; over time, the response initially caused by the second stimulus becomes caused by the first stimulus alone.

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