Naoki believes that food prices should be standardized and a restaurant should not charge more simply because it is a popular brand. He feels that $10 to $20 is a suitable price for a meal at a restaurant and all restaurants should follow the same pricing strategy. This is what is best known as his:
A) pricing strategy.
B) expectation pricing.
C) known price range.
D) zone of acceptance.
E) appropriate acceptability range.

Question

Quizplus · Accepted Answer

Naoki's belief that meals should fall within a specific price range ($10 to $20) reflects his "zone of acceptance," which is the range of prices he deems acceptable for a product or service, in this case, a meal at a restaurant.

Naoki Believes That Food Prices Should Be Standardized and a Restaurant