The Perception of Price Depends on a

question 147

Multiple Choice

The perception of price depends on a

• A)product's actual price and consumers' expectations regarding price.
• B)consumer's analysis of competitive prices.
• C)consumer's reference price.
• D)consumer's expectation of price.
• E)product's actual price in comparison with the manufacturer's suggested price.

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Definitions:

Counteract

To act against something in order to reduce its force or neutralize its effect.

Group Cohesiveness

The extent to which members of a group are bonded together, resulting in a strong sense of identity, commitment, and loyalty toward the group.

Cohesiveness

The degree to which members of a group or team are united toward common goals and exhibit loyalty to the group.

Social Loafing

The tendency of individuals to exert less effort when working in a group than when working alone.