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2 years ago

when consumers examine products, they often compare an observed price to an internal price they remember. this is known as a(n)

1 answer:

5 0

In a situation where consumers examine products, they often compare an observed price to an internal price they remember. This process is known as a reference pricing. Therefore, the option B holds true.

<h3>What is the significance of a reference price?</h3>

A reference price can be referred to or considered as the price that is known to the consumer related to a particular product due to the remembrance from the last time he or she purchased or saw that product. It is often comparable with the prevailing market prices of a product.

Therefore, the option B holds true and states regarding the significance of the reference price of a consumer.

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The missing choices to the incomplete question have been added below for better reference.

A) markup price

B) reference price

C) market-skimming price

D) accumulated price

E) target price

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<h3>What is Written Communication?</h3>

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