Which of the Following Statements Concerning "Reference Prices" Is FALSE

question 151

Multiple Choice

Which of the following statements concerning "reference prices" is FALSE?

• A) A reference price is the price consumers expect to pay for an item.
• B) Retailers sometimes want consumers to use the manufacturer's list price as the reference price even though their actual retail selling price is lower.
• C) Different customers may have different reference prices for the same type of purchase.
• D) Leader pricing is normally used with products for which consumers do not have a specific reference price.
• E) None of these statements about "reference prices" is FALSE.

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Definitions:

Training

An organization's planned efforts to help employees acquire job-related knowledge, skills, abilities, and behaviors, with the goal of applying these on the job.

Learning Organization

An organization that actively encourages, facilitates, and utilizes the learning of its members to continuously transform itself for better performance and innovation.

Human Resources

The department within an organization responsible for hiring, administering employee benefits, and managing employee relations and training.

Employee Satisfaction

A measure of how happy or content employees are with their jobs and work environment.