Some Consumers Maintain a "Price-Quality Association," Meaning That If a Product

question 167

Multiple Choice

Some consumers maintain a "price-quality association," meaning that if a product has a high price, they assume the product must have high quality. This "price-quality association" is the basis for the use of:

• A) Odd-even pricing.
• B) Prestige pricing.
• C) Leader pricing.
• D) Reference pricing.
• E) Price lining.

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Definitions:

HRM Functions

The diverse activities undertaken by Human Resource Management to optimize the performance and contribution of employees towards organizational objectives.

Business Performance

The evaluation of a company's operations and financial outcomes, often measured through metrics such as sales, profit, and growth.

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The practices and policies an organization adopts to handle, manage, and support its workforce, impacting their satisfaction, productivity, and loyalty.

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The process of teaching or developing in oneself or others, the skills and knowledge that relate to specific useful competencies, aimed at improving an individual's capability, capacity, productivity, and performance.