In the Purchase of a Product

question 20

Multiple Choice

In the purchase of a product. time. effort. risk. and opportunity costs are all examples of:

• A) nonmonetary costs.
• B) soft costs.
• C) intangible costs.
• D) experiential costs.
• E) monetary costs.

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Definitions:

Brand Recognition

is the extent to which consumers can correctly identify a brand by its attributes, such as logos, colors, or slogans.

Brand Preference

The degree to which consumers favor one brand over competing brands, often influenced by marketing, personal experiences, and perceptions.

Strategy Canvas

Tool for plotting out the competitive position of a company relative to its competitors, focusing on key success factors and performance indicators.

Customer Perceptions

The way customers view and interpret a company's products, services, and overall brand.