When Consumers Are Unable to Judge the Quality of a Product

question 63

Multiple Choice

When consumers are unable to judge the quality of a product through examination or prior experience,they usually do which of the following and assume that the higher-priced product is the higher-quality product?

• A)make a price-quality inference
• B)depend on an internal reference price
• C)assess the fair price
• D)experience an assimilation effect
• E)experience a price-placebo effect

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Definitions:

Altruistic Gene

A hypothetical gene that influences individuals to act in a selfless manner for the benefit of others.

Biological Factors

Intrinsic physiological and genetic attributes that influence an individual's behavior, health, and development.

Prosocial Behaviour

Voluntary actions intended to benefit or help others without the expectation of external rewards.

Traditional Theories

Established principles and ideas that serve as the foundation for understanding various aspects of human behavior and societal functions.