Name and Explain the Three Basic Pricing Strategies a Small

question 113

Essay

Name and explain the three basic pricing strategies a small business owner has in establishing a new product's price.

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Definitions:

Anticipatory Goal Responses

Behavioral or physiological responses that occur in anticipation of achieving a goal, often motivating the individual towards the goal.

Pavlovian Conditioning

Also known as classical conditioning, it's a learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus.

Drive

An internal motivational state created by physiological or psychological needs that drive behavior toward fulfilling those needs.