Retailers Have Three Pricing Techniques Available to Them

question 105

Essay

Retailers have three pricing techniques available to them.Describe each technique,explain why a retailer would use it,and offer advantages or disadvantages that exist for each technique.

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Definitions:

Reactivity

The degree to which the process of measurement itself affects the measurement and the subject's behavior.

Social Desirability

The tendency of respondents to answer questions in a manner that will be viewed favorably by others, which can bias survey and research results.

Selection Bias

A distortion in statistical analysis resulting from the method of collecting samples, where the sample obtained is not representative of the population intended to be analyzed.

Responsiveness

The quality of reacting quickly and positively; being responsive to feedback or changes.