Using Appropriate Research Methods to Examine How People Think, Feel

question 79

Multiple Choice

Using appropriate research methods to examine how people think, feel, and behave is important because:

• A) it decreases the likelihood that we draw empirically sound conclusions.
• B) it decreases the likelihood that we make poor decisions.
• C) biases in how we think make the study of psychology more like real life.
• D) it makes us more likely to use the availability heuristic.

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Definitions:

Customer Demographics

Statistical characteristics of consumers, such as age, gender, income, and education, used to identify market segments.

TAM, SAM, SOM

stands for Total Addressable Market, Serviceable Available Market, and Service Obtainable Market, respectively, and they are metrics used to estimate the potential market size and revenue opportunity for a product or service.

Disposable Income

The amount of income left to an individual after taxes have been paid, available for spending, saving or investing.

Product Application

Goods or services created to meet a demand, thereby providing a solution to a customer problem.