Which of the Following Scenarios Indicates That the Brand Is

question 2

Multiple Choice

Which of the following scenarios indicates that the brand is not doing well and it would be worthwhile to determine the reasons and make some changes?

• A) iPhone's share of the growing mobile phone market is at an all-time high.
• B) Even though the popularity of Asian fast-food restaurants is on the rise, the Flying Wok has seen a fifteen percent decline in sales over the past three months.
• C) Just when Stephanie entered the specialty textile flooring market people don't seem to want shag carpeting anymore.
• D) Nestle's Quik has a high market share in a declining powdered flavour market.

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Definitions:

Time Inconsistency

The tendency of certain conditions or decisions to change over time, especially in the context of economic planning and policy-making.

Prospect Theory

A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.

Behavioral Economists

Economists who study how psychological, social, cognitive, and emotional factors affect economic decisions and market outcomes.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.