Psychological pricing uses price points to designate prices that help make the impression that the product exists less expensive than it is.
<h3>What is Psychological pricing?</h3>
Pricing, which can be a part of a company's marketing strategy, is the process by which a company determines the price at which it will offer its goods and services. Pricing is the process of determining the value that a manufacturer will receive in exchange for their goods and services. The producer uses a pricing strategy to make the cost of its products suitable for both the manufacturer and the consumer.
The use of pricing to sway a customer's purchasing decisions or spending patterns is known as psychological pricing. The objective is to satisfy a customer's psychological need, whether that need is to save money, invest in the best product, or receive a "good deal." A pricing and marketing technique known as psychological pricing is based on the idea that specific prices have psychological effects.
Hence, Psychological pricing uses price points to designate prices that help make the impression that the product exists less expensive than it is.
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Answer:
The correct answer is the option C: there are many substitute goods available for a product, and they have a long time horizon to adjust their consumption.
Explanation:
To begin with, the concept known as <em>''price-responsive'' </em>in the marketing field and in the business world refers to the ability by the consumers to adjust their consumption behavior regarding the prices that are being charged by the company in order to control the use of the good itself and therefore to avoid paying high prices. Moreover, it is understood that in this theory scheme the consumers are adaptative to the services price changes that the company tends to do.
<span>If peanuts serve as a medium of exchange, a unit of account, and a store of value, then peanuts are MONEY.</span>
Answer: $9,600
Explanation:
Past-due accounts written off = Beginning Allowance balance + Bad Debts expense - Ending Allowance Balance
= 6,300 + 11,400 - 8,100
= $9,600
Answer: $21,000
Explanation:
Financing activities refer to those that a company engages in, in relation to capital needed to run the affairs of the business which means it included Equity and Debt.
Financing Activities: Interest paid, dividends paid, money borrowed from bank, stock repurchase
Net cash flows from financing = Money borrowed from bank - Interest paid - dividends paid - Stock repurchase
= 50,000 - 6,000 - 8,000 - 15,000
= $21,000
