Which of the following is most relevant to a company that wants to position a new brand on price leadership?
A)Gestalt psychology
B)Weber's law
C)Augmented reality
D)The closure principle

Question

Quizplus · Accepted Answer

Weber's law states that the change in a stimulus that will be just noticeable is a constant ratio of the original stimulus. In pricing, this means that a small change in price is more noticeable for low-priced products than for high-priced products. Understanding Weber's law can help a company position a new brand on price leadership by setting a lower price point that is noticeable to consumers and perceived as a better value than competitors.

Which of the Following Is Most Relevant to a Company