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.

---

Definitions:

Avoidance-Avoidance Conflict

A psychological conflict that occurs when an individual is forced to choose between two equally unattractive options or outcomes.

Coping Abilities

An individual's effective strategies and skills in dealing with stressful or challenging situations.

Stress

The body's response to any demand or challenge, which can be triggered by both positive and negative experiences, affecting mental and physical health.

Pressure

The psychological or physical force exerted on an individual, which can result from external demands or internal expectations.