____ pricing is common in retail goods for which consumers have an idea of what the price "should be" and have a "usual" price in mind for that item.

Name: ____ pricing is common in retail goods for which consumers have an idea of what the price "should be" and have a "usual" price in mind for that item.
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Question

Quizplus · Accepted Answer

Reference pricing is used when consumers have a preconceived notion of what the price of an item should be, based on past experiences or market standards.

____ Pricing Is Common in Retail Goods for Which Consumers