If a Service Firm Sets a Specific Price for Each

question 197

Multiple Choice

If a service firm sets a specific price for each possible job-rather than setting a price which applies for all potential customers-it is most likely using:

• A) product-bundle pricing.
• B) a one-price policy.
• C) price lining.
• D) average-cost pricing.
• E) bid pricing.

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Definitions:

Need-satisfaction

A sales approach that focuses on identifying and meeting the specific needs of a customer, emphasizing the benefits of a product or service that can meet those needs.

Stage Technologies

Innovative tools and devices designed to enhance live performances through special effects, automation, and advanced sound and lighting.

Modular Production

A manufacturing approach that involves producing components or modules in separate units, which can then be easily combined or assembled into a final product.

Need-satisfaction

The process of fulfilling or satisfying the requirements or desires of consumers or clients.