Which of the Following Statements Is True About Customers' Interpretation

question 36

Multiple Choice

Which of the following statements is true about customers' interpretation and response to price?

• A) An internal reference price is a comparison price provided by others such as friends and relatives.
• B) An external reference price is a price developed in the buyer's mind through experience with the product.
• C) Prestige-sensitive customers are concerned about both the price and quality aspects of a product.
• D) At times, customers interpret a higher price as higher product quality.
• E) Customers do not consider the resources required to maintain a product after purchase.

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Definitions:

Joseph Breuer

An Austrian physician who made key contributions to the field of psychotherapy, particularly through his work with patient 'Anna O.' and the development of the talking cure.

Hypnosis

A trance-like state of focused attention and increased suggestibility, often used therapeutically to alter perceptions, behaviors, and sensations.

Wish Fulfillment

is a concept in psychoanalytic theory suggesting that dreams or fantasies are a means for individuals to satisfy unmet desires or needs.

Reflexive Action

An automatic, involuntary reaction to a stimulus, bypassing conscious thought.