If Harold Intends to Use the Reciprocity Norm to Influence

question 78

Multiple Choice

If Harold intends to use the reciprocity norm to influence Ramon, a potential customer, to buy his product, Harold might

• A) offer Ramon a great bargain, revealing hidden costs later.
• B) take Ramon to dinner at a nice restaurant.
• C) try to convince Ramon of the scarcity of his product.
• D) try to stimulate a reactance response in Ramon.

Recognize the importance of distribution and branding in marketing strategies.

Grasp the concept of derived demand and its significance in business products.

Understand the classification and promotion strategies for unsought products.

Comprehend the characteristics and marketing strategies of specialty products.

---

Definitions:

Secured Transaction

Any transaction in which the payment of a debt is guaranteed, or secured, by personal property owned by the debtor or in which the debtor has a legal interest.

Collateral

Assets or property pledged as security for the repayment of a loan, subject to seizure on default.

Foreclosure

A proceeding in which a mortgagee either takes title to or forces the sale of the mortgagor’s property in satisfaction of a debt.

Repossess

The act of taking back possession of property by a seller or lender from the buyer or borrower, typically due to failure in payment.