500 words please!!!!
Explain the following statement giving examples:
“When we look at buying decisions, it is...
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Operations Management
500 words please!!!!
Explain the following statement giving examples:
“When we look at buying decisions, it is not price levels butprice perceptions that may be more important. Price perceptions canbe molded and modified by sellers, based on the use of advertisingor other cues that may determine our reference prices. After thisthe ‘coding’ of the price as a gain or loss†is altered. By framinga price as a ‘gain’ the seller induces purchases.â€
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Perceived prices as opposed to price levels are reference points that customers make for a product based on experience Experience in terms of price levels that they have come across for similar products Every time a customer looks at a price point there are two opposing thoughts that crosses the mind of
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