Reference Pricing Is

question 146

Multiple Choice

Reference pricing is

• A) listing the manufacturer's suggested retail price on the price tag along with the store's lower price.
• B) mentioning the price that other retailers charge for the same product on the display for the product.
• C) using a consumer's internal perceptions of what the appropriate price should be to help price a firm's products.
• D) pricing a product at a moderate level and positioning it next to a more expensive model or brand.
• E) using prices in advertising so that customers will have a point of reference when they come to the retail facility.

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Definitions:

Yalta Conference

A meeting held in February 1945 between the leaders of the United States, the United Kingdom, and the Soviet Union to discuss the postwar reorganization of Germany and Europe.

Franklin Roosevelt

The 32nd President of the United States, who led the country during the Great Depression and World War II.

Joseph Stalin

Joseph Stalin was a Soviet politician and dictator who led the Soviet Union from the mid-1920s until his death in 1953, overseeing extensive industrialization and the implementation of severe political repression.

Nazis

Members of the National Socialist German Workers' Party, led by Adolf Hitler, responsible for the atrocities of World War II and the Holocaust.