Since consumers have the tendency to compare prices on almost everything they buy, marketers setting prices should attempt to capitalize on this tendency by determining the price consumers will consider fair and reasonable for a product. This is known as the
A. reference price.
B. benchmark price.
C. reasonable price.
D. break-even point.
E. dynamic price.
Answer: A
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Ethical issues related to product strategy begin with determining what markets should be targeted.
Answer the following statement true (T) or false (F)
The Morris Corporation acquired land, buildings, and equipment from a bankrupt company at a lump-sum price of $180,000 . At the time of acquisition, Morris paid $12,000 to have the assets appraised. The appraisal disclosed the following values: Land .................................................. $120,000 Buildings ............................................. 80,000 Equipment
............................................. 40,000 What cost should be assigned to the land, buildings, and equipment, respectively? a. $64,000, $64,000, and $64,000 b. $90,000, $60,000, and $30,000 c. $96,000, $64,000, and $32,000 d. $120,000, $80,000, and $40,000
The service sector makes up approximately what percentage of all jobs in the United States?
A) 12% B) 40% C) 66% D) 85% E) 94%
Which of the following represents the use of online displays of products, allowing customers instant access to information and purchasing options?
A) Cybermalls B) Virtual storefronts C) E-catalogs D) Video retailing E) Electronic storefronts