Which of the following is an example of a psychological factor relevant to the pricing decisions made for a collectible doll that sells for $299?
A) What is the discretionary income of prospective buyers of the doll?
B) Will prospective buyers view the doll's high price as an indicator of high quality?
C) Are the prospective buyers of the doll geographically clustered?
D) How many prospective buyers can afford to pay this much for a doll?

Question

Quizplus · Accepted Answer

Psychological factors related to pricing concern primarily how consumers will perceive various prices or price changes. Psychological factors include questions such as, whether potential buyers will use price as an indicator of product quality. The discretionary income of prospective buyers and whether prospective buyers can afford the product are questions directly related to the economic strength of potential buyers. Economic strength of potential buyers and whether they are geographically clustered are demographic factors relevant to pricing decisions.

Which of the Following Is an Example of a Psychological