The important element in psychological pricing is that the price be consistent with the brand image; you can't charge a Rolex price for a Timex watch.

Answer the following statement true (T) or false (F)


True

Marketers believe that consumers are often less concerned with a product's actual price than with its perceived price relative to competitors. Many premium brands, such as L'Oréal, tout the fact that they cost more. Setting a high price to make a product seem more valuable is an example of psychological pricing. Image advertising may be used to justify the higher price. The important thing is that the price be consistent with the brand image; you can't charge a Rolex price for a Timex watch. And similarly, the brand's advertising must be consistent with its pricing strategy.

Business

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When a project manager imposes a judgment on warring parties, he is involved in:

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Which of the following statements is true regarding a trial balance that balances?

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Business