A Researcher Studying the Effect of Price Cuts on Consumers

question 45

Multiple Choice

A researcher studying the effect of price cuts on consumers' expectations makes up two different histories of the store price of a hypothetical brand of laundry detergent for the past year. Eight students in a business class view one or the other price history on a computer. Some students see a steady price, whereas others see regular sales that temporarily cut the price. Students are asked the price they would expect to pay. The experimental units are:

• A)all business students at the college.
• B)the eight business students who participated.
• C)the business students who were in the fluctuating price group.
• D)the price the students would expect to pay.

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Definitions:

Color

An attribute of visual perception described through categories such as hue, saturation, and brightness, often used in design and marketing for psychological impact.

Inventory Storage

Refers to the process or space used for keeping goods or materials until they are needed or sold.

Third-party Logistics Firm

A business that provides outsourced logistics services covering warehousing, transportation, and distribution for other companies.

Supply Management

The process of managing and optimizing the sourcing, procurement, and logistical activities required to obtain products, services, and materials needed by a company.