Examlex
Briefly explain the difference between selling points and benefits,and then give an example of each.
Cognitive Map
A cognitive map is a mental representation of a person's physical environment, allowing them to navigate and understand spatial information.
Sunk Costs
Expenses that have already been incurred and cannot be recovered, which should not influence future business decisions.
Subsequent Decision Making
Refers to the process of making decisions that follow an initial decision, taking into account the outcomes and new information that have emerged since the first decision.
Escalation Of Commitment
The phenomenon where people increase their investment in a decision despite new evidence suggesting it may be wrong or doomed.
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