When a Company Attempts to Influence a Consumer's Perception of Price

question 48

Multiple Choice

When a company attempts to influence a consumer's perception of price to make a product's price more attractive and reduce "sticker shock," it is using a ____ pricing strategy.

• A) competition-based
• B) professional
• C) promotional
• D) comparison
• E) psychological

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Definitions:

Court

A governmental institution responsible for administering justice through interpreting laws, resolving disputes, and deciding criminal or civil cases.

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A type of bankruptcy in the United States that allows individuals earning a regular income to develop a plan to repay all or part of their debts.

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The transfer of money, goods, or services from one party to another in exchange for something of value, completing a transaction.

Debtor's Obligations

The responsibilities or duties a borrower must fulfill, such as repaying borrowed money, according to agreed-upon terms.