For ________ Purchases, Consumers Are More Likely to Be Narrow

question 60

Multiple Choice

For ________ purchases, consumers are more likely to be narrow categorizers, whereas for ________ purchases, consumers are more likely to be broad categorizers.

• A) high involvement; low involvement
• B) brand equity; brand loyalty
• C) evoked set; shaped
• D) positive reinforcement; negative reinforcement
• E) massed; distributed

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Definitions:

Industry

A group of companies that are related based on their primary business activities.

Variable Costs

Costs that change in proportion to the level of goods or services that a business produces.

Profit-maximizing Output

The level of production at which a firm achieves the highest profit, where marginal revenue equals marginal cost.

Marginal Cost

The expenditure required to produce an extra unit of a good or service.