Asked by Krystal Phengsomphone on May 09, 2024
Verified
Overpricing a product or service to make consumers curious is an example of what type of pricing tactic?
A) target-return pricing
B) creativity in pricing
C) cost-plus pricing
D) reference pricing
Overpricing
Setting the price of a product or service higher than its perceived market value or cost justification, potentially leading to reduced sales or customer dissatisfaction.
Target-Return Pricing
A pricing strategy where the price is set to achieve a specified return on investment or cost.
Creativity in Pricing
The application of innovative and strategic approaches to setting prices with the aim of optimizing profitability and market share.
- Gain insight into the diverse pricing approaches and techniques utilized in the marketplace.
Verified Answer
Learning Objectives
- Gain insight into the diverse pricing approaches and techniques utilized in the marketplace.
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