Markdowns Can Be Used to

question 207

Multiple Choice

Markdowns can be used to

• A) increase competition with other retailers in the immediate vicinity.
• B) placate dissatisfied customers.
• C) enhance customer perceptions of product quality.
• D) increase demand for complementary products.
• E) reduce the sense of urgency among repeat buyers.

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Definitions:

Normative Influence

A type of social influence that leads individuals to conform in order to be accepted and liked by others, often involving the adoption of group norms.

Deindividuation

A psychological state where an individual loses their sense of self-awareness and feels less responsible for their actions, often occurring in group settings.

Social Facilitation

The tendency for individuals to perform differently when in the presence of others than when alone, typically improving on simple or well-rehearsed tasks.

Obedience

The act of following orders or directions from an authority figure, often studied in social psychology.