Marketing Executives Must Translate Estimates of Customer Demand into Estimates

question 117

Multiple Choice

Marketing executives must translate estimates of customer demand into estimates of

• A)personnel.
• B)advertising expenditures.
• C)ancillary product support.
• D)revenues the firm expects to receive.
• E)supply.

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Definitions:

Actor/Observer Bias

is the tendency to attribute one's own actions to external causes while attributing other people's behaviors to internal causes.

Self-Fulfilling Prophecy

People’s tendency to behave in ways that confirm their own expectations or other people’s expectations.

Ingroup/Outgroup Bias

The tendency to favor and extend loyalty to members of one's own group (the ingroup) while discriminating against members of other groups (the outgroup).

Stereotype

A stereotype is a fixed, generalized belief about a particular group or class of people.