Internal reference prices are formed from advertising,past purchasing experience,and so on,and are often called ________ because the customer considers them the actual prices of the products in a category.

Question

Quizplus · Accepted Answer

Internal reference prices are also known as perceived prices because they are the prices that the customer perceives to be the actual prices of products in a certain category. These perceived prices can be formed from various factors such as advertising, past purchasing experience, and so on. Therefore, option B, perceived prices, is the best choice.

Internal Reference Prices Are Formed from Advertising,past Purchasing Experience,and So