Using the PLC Concept to Develop Marketing Strategy Can Be

question 140

True/False

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life cycle.

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Definitions:

Primacy Effect

The tendency to remember and give more weight to information that is encountered first in a series.

Recency Effect

The phenomenon where more recently presented information is better remembered and has a stronger influence on judgment than older information.

Transference

In psychotherapy, the phenomenon where patients project feelings or attitudes from past relationships onto the therapist.

Halo Effect

A cognitive bias where the perception of one positive trait leads to the assumption of other positive traits in an individual.