Why do various sellers use odd pricing

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Reference no: EM1376210

Visit eBay to conduct some pricing research. Select a product category that is books, video game consoles, collectible train sets. Don't choose a specific item that is, Guitar Hero for Xbox. Look at some of the current auctions taking place in your chosen category

1. How might sellers define the prices they set for opening bids as well as reserve prices (the minimum price they will accept for an item)?

2. For a particular item in this category (here's where you can select a specific item), how might prospective buyers determine internal and external reference prices?

3. Why do various sellers use odd pricing?

4. Does price flexibility play a role in determining the final bid price? If so, how?

Reference no: EM1376210

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