Question: 500 words please!!!! Explain the following statement giving examples: When we look at buying decisions, it is not price levels but price perceptions that may

500 words please!!!!

Explain the following statement giving examples:

When we look at buying decisions, it is not price levels but price perceptions that may be more important. Price perceptions can be molded and modified by sellers, based on the use of advertising or other cues that may determine our reference prices. After this the coding of the price as a gain or loss is altered. By framing a price as a gain the seller induces purchases.

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