The marketing manager of a doll manufacturing company is tasked with setting the price of the company's new range of collectible dolls. He decides to consider the psychological factors related to pricing and sets the price of each doll at $300. Which of the following questions would the marketing manager have considered when making his decision?
A) What is the discretionary income of prospective buyers of the doll?
B) Will prospective buyers relate the doll's high price to 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

The marketing manager considered if prospective buyers would associate the high price of the doll with high quality, which is a psychological factor related to pricing. The discretionary income of prospective buyers (A), geographic clustering (C), and the number of prospective buyers who can afford the doll (D) may also be important factors but are not directly related to psychological factors related to pricing.

The Marketing Manager of a Doll Manufacturing Company Is Tasked