A Convenience Store Is Generally Able to Charge and Obtain

question 67

Multiple Choice

A convenience store is generally able to charge and obtain a higher price for its candy bars than Walmart because the convenience store

• A) differentiates based on style.
• B) differentiates based on location.
• C) differentiates based on quality.
• D) advertises that its candy bars are identical to those sold at Walmart.
• E) differentiates based on high barriers to entry,such as patents.

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Definitions:

Purchase Momentum

The psychological phenomenon where an initial purchase increases the likelihood of further purchases.

Extended Problem Solving

Extended problem solving occurs in consumer behavior when individuals engage in a careful and deliberate choice process, often for significant, complex, or high-investment purchases.

Habitual Decision Making

Decision making characterized by little to no conscious thought, typically due to familiarity or routine.

Behavioural Influence Perspective

A viewpoint in psychology that focuses on understanding how external factors, such as environment or social interactions, shape behaviors.