Reference pricing is
A) the price that consumers carry in their mind for a particular product or brand
B) a strategy based on the premise that consumers will feel that products priced at a premium are of high quality, status, and image
C) setting prices at even or odd numbers
D) setting prices to create a particular psychological effect

Question

Quizplus · Accepted Answer

Reference pricing is the price that consumers carry in their mind for a particular product or brand and is important in determining the price of a product.

Reference Pricing Is