The Objective and Subjective Attributes of a Brand That Consumers

question 121

Multiple Choice

The objective and subjective attributes of a brand that consumers use to compare different products and brands are referred to as

• A) temporal states.
• B) antecedent states.
• C) information sources.
• D) evaluative criteria.
• E) the consideration set.

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Definitions:

Elasticities

Indicators that show the sensitivity of the demand or supply of a product to variations in its price, income levels, or other relevant elements.

Elasticity of Demand

A measure of how much the quantity demanded of a good or service changes in response to a change in its price.

Determinant

A factor or element that causes change in an outcome or condition, often used in reference to variables that affect economic indicators.

Cross Elasticity

A measure of how the quantity demanded of one good responds to a change in the price of another good.