Which of the following is a set price or price range in consumers' minds that they refer to in evaluating a product's price?
A) dynamic price
B) internal reference price
C) suggested retail price
D) captive price
E) value price

Question

Quizplus · Accepted Answer

Internal reference price is a set price or price range in consumers' minds that they refer to in evaluating a product's price. The other choices do not specifically refer to this concept. Dynamic price refers to a price that changes frequently, suggested retail price is the price recommended by the manufacturer or creator of the product, captive price is a pricing strategy where the price of a main product is low but complementary products are priced higher, and value price refers to a pricing strategy where the price is set to emphasize the value of the product to the customer.

Which of the Following Is a Set Price or Price