The Bargaining Power of a Customer Is Weak If ________

question 106

Multiple Choice

The bargaining power of a customer is weak if ________.

• A) the availability of a substitute is limited
• B) the cost of switching to a substitute is low
• C) competitors offer products with same benefits at lower prices
• D) new entrants are offering a product that uses more recent technology

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Definitions:

Overestimate Accuracy

The tendency to overvalue one's ability to accurately recall, predict, or perform tasks.

Memory of General Information

The ability to recall facts, concepts, and knowledge about the world that is not tied to specific experiences.

Researcher Feedback

Comments or information provided by researchers on the methods, results, or process of an experiment or study.

Deep Processing

Refers to a method of learning and memory retrieval that involves a meaningful analysis of the information, leading to better recall.