Alex's Knot Shop Prices Its Ties at $5 Intervals from $10

question 245

Multiple Choice

Alex's Knot Shop prices its ties at $5 intervals from $10 to $25 because most customers find these prices appealing and easier to compare. This is:

• A) prestige pricing.
• B) penetration pricing.
• C) price lining.
• D) odd-even pricing.
• E) value in use pricing.

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Definitions:

Golden Rule

A moral principle that advocates treating others as one would like to be treated.

Teamwork

The cooperative effort by a group of people to achieve a common goal or complete a task in the most effective and efficient way.

"Wow" Experience

An exceptionally impressive or surprising event, service, or product that exceeds expectations.

Customer

An individual or entity that purchases goods or services from another individual or entity, often the focal point in business transactions.