Pricing Strategies in Marketing
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Pricing Strategies in Marketing

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@PropitiousHeliotrope8006

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Questions and Answers

What is the psychological effect of using a dollar sign when pricing a product?

  • It makes the product appear more expensive (correct)
  • It makes the product appear of higher quality
  • It makes the product appear more affordable
  • It has no impact on the perceived price

    • What is the term for taking advantage of a situation to charge exceptionally high prices for products or services?

  • Price gouging (correct)
  • Price manipulation
  • Price appearance
  • Price inflation

    • Why do prices with multiple syllables seem more expensive to consumers?

  • Because they take longer to read and pronounce (correct)
  • Because they are more often used in online shopping
  • Because they are more difficult to calculate
  • Because they are more common in advertising

    • In which state was the first price gouging law enacted in 1978?

    <p>New York</p> Signup and view all the answers

    What is the main reason why price gouging laws are enacted?

    <p>To prevent excessive prices during emergencies</p> Signup and view all the answers

    What is an example of a recent situation where price gouging was a potential concern?

    <p>The COVID-19 pandemic</p> Signup and view all the answers

    What type of products are currently listed as items that cannot be hoarded or subject to price gouging due to COVID-19 precautions?

    <p>Masks and other personal protective equipment</p> Signup and view all the answers

    What is the purpose of posting lists of items that cannot be subject to price gouging?

    <p>To protect consumers from excessive prices</p> Signup and view all the answers

    Why do consumers perceive prices with more syllables as more expensive?

    <p>Because they take longer to read and pronounce</p> Signup and view all the answers

    What is the outcome of price gouging during emergencies?

    <p>It harms consumers and vulnerable populations</p> Signup and view all the answers

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