A Marketing Manager Championed Expansion into Eastern Europe, but Sales

question 34

Multiple Choice

A marketing manager championed expansion into Eastern Europe, but sales failed to materialize. Instead of recommending exiting from that market, he or she insisted that growth would occur. This is an example of which of the following cognitive biases?

• A)Projection
• B)Ego- defensiveness
• C)Frequency
• D)Cognitive dissonance

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Definitions:

Traveller's Cheques

Preprinted, fixed-amount cheques designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege.

Exchange Rate

The equivalent value of a currency when exchanged for a different one.

Round-Trip Transaction

A term referring to the complete process of buying and then selling a financial instrument, or vice versa.

Exchange Rates

The evaluation of one currency's value for the intention of exchanging it for another, indicating how much one currency equates to in another currency.