Brand Loyalty Is

question 24

Multiple Choice

Brand loyalty is:

• A) the optimization of consumer utility through brand image.
• B) the repeat purchase of a brand because of habit.
• C) a reduction of cognitive processes through low-effort brand retrieval.
• D) a commitment to two or more brands that consumers purchase repeatedly.
• E) the repeat purchase of a brand because of a conscious evaluation.

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Definitions:

English Auctions

A method of sale in which the price ascends and participants bid openly against each other, with the item being sold to the highest bidder.

Sealed-bid Auctions

Auctions in which all bidders simultaneously submit their bids in sealed envelopes, with no bidder knowing the bid of the others.

Common-value Auction

An auction format where the item for sale has the same value for everyone, but bidders have different information about that value.

Oral Auctions

Public sales where goods or services are sold to the highest bidder through verbal bids.