One of the Traps of Instituting a Price Decrease Is

question 124

Multiple Choice

One of the traps of instituting a price decrease is when that low price buys market share in the short term.The same customers will shift to any lower-priced product that may come along.This trap is called ________.

• A) low-price trap
• B) market-loyalty trap
• C) shallow-pockets trap
• D) low-quality trap
• E) fragile-market-share trap

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Definitions:

Fundamental Attribution Error

The tendency to overemphasize personality traits and underestimate situational factors when explaining other people's behavior.

Role Playing

A method or technique for training, therapy, or entertainment in which participants act out roles in a narrative or scenario.

Cognitive Dissonance

The mental strain experienced when an individual harbors two or more conflicting beliefs, ideas, or values simultaneously.

Fundamental Attribution Error

The tendency to attribute others' actions to their character or personality, while attributing our own behaviors to external situations.