Recently, the Only Type of Car Available for Anthony to Rent

question 105

Multiple Choice

Recently, the only type of car available for Anthony to rent on a business trip was a compact, fuel-efficient Japanese import.Anthony was surprised at the comfort and performance of the car.He is in the market for a new car and had previously considered only buying another luxury SUV.Now, he is thinking about the significant cost savings he would have if he bought the compact vehicle rather than a new SUV.This is an example of the competitive risk that:

• A) a competitor's products can convey a product's differentiated features to a customer at a significantly reduced price.
• B) a product imitation can cause customers to perceive that competitors offer essentially the same goods.
• C) experience can narrow a customer's perceptions of the value of a product's differentiated features.
• D) brand loyalty insulates a company from rivalry with competitors.

Understand how consumer trust in product reviews is influenced.

Recognize the role of ratings, reviews, and testimonials in social commerce.

Understand the use of social commerce tools and applications in enhancing the shopping experience.

Identify key components of word-of-mouth marketing.

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Definitions:

Unpredictable Amount

A quantity or volume that cannot be precisely foreseen or estimated due to varying factors or conditions.

Negative Reinforcement

A process in operant conditioning by which the removal or avoidance of an unpleasant stimulus increases the likelihood of a behavior being repeated.

Time-Out

A behavioral intervention technique that involves temporarily removing an individual from an environment where undesired behavior has occurred, to decrease the likelihood of the behavior's recurrence.

Make-Up Exam

A test or examination given to a student who missed the original date, providing an opportunity to make up for the missed assessment.