Todd owns a discount sporting goods store, and several of the items in his store have a manufacturer's suggested retail price (MSRP) above Todd's lower price. Todd is using the MSRP as a(n) _____.
A) base reference price
B) external reference price
C) perceptual reference price
D) internal reference price
E) disclosed reference price

Question

Quizplus · Accepted Answer

An external reference price is presented by a marketer for the consumer to use to compare with the current price.

Todd Owns a Discount Sporting Goods Store, and Several of the Items