Some retailers feel that their potential customers find certain prices appealing but that prices within certain ranges are seen as roughly the same, and thus price cuts within a given range will not increase the quantity sold (i.e., the demand curve is vertical within these "same price" ranges). These retailers would probably use ________ if they want to maximize profit.
A. prestige pricing
B. bait pricing
C. leader pricing
D. psychological pricing
E. average-cost pricing
Answer: D
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Under the Civil Rights Act of 1991,
a. only victims of racial discrimination can recover compensatory and punitive damages for intentional discrimination. b. victims of intentional racial discrimination are still entitled to receive unlimited compensatory and punitive damages. c. victims of sex discrimination are no longer subject to ceilings on the amount of recoverable punitive damages. d. victims of disability discrimination are not subject to ceilings on the amount of recoverable compensatory damages.
The EMV that a person is willing to give up in order to avoid the risk associated with a gamble is referred to as the ________
A) risk premium B) certainty equivalent C) EVPI D) EVwPI E) EVSI
Abuse of process applies to any person using a legal process against another in an improper manner
Indicate whether the statement is true or false
When studying consumer needs, a marketer should
A. realize that he or she cannot create needs, merely identify them. B. try to understand how the marketing mix can satisfy a set of needs, rather than only one. C. know that a product may be a want or a need depending on what the consumer has learned during his or her life. D. All these answers are correct.