Which of the following statements is true of the influence of price on consumers' acquisition, usage, and disposition decisions?
A) When making a purchase, consumers consider how much they must pay in relation to the price of other relevant brands.
B) Consumers perceive prices that end in the number 0 to be cheaper than prices that end in 99.
C) Consumers respond better to a discount presented as a specific amount of money subtracted from the regular price than to a discount presented as a percentage off the regular price.
D) When buying multiple units of a service for one bundled price, consumers feel a great loss if they use only some of the units.
E) Generally, consumers tend to underestimate how much others will pay for goods, particularly when they are selling a product they own.

Question

Quizplus · Accepted Answer

Consumers consider the price of other relevant brands when making a purchase, and they compare it to the price of the brand they are interested in buying.

Answer: B
 Consumers perceive prices that end in 0 to be cheaper than those that end in 99. This is known as the left-digit effect.

Answer: C
 Consumers respond better to a discount presented as a specific amount of money subtracted from the regular price than to a discount presented as a percentage off the regular price. This is because they can easily calculate the actual amount they will save.

Answer: D
 When buying multiple units of a service for one bundled price, consumers may feel like they are losing out if they don't use all of the units, even if the price per unit was still a good value.

Answer: E
 Generally, consumers tend to overestimate the value of goods they own and underestimate how much others will pay for the same goods. This is known as the endowment effect.

Which of the Following Statements Is True of the Influence