Adding a Similar but Inferior Decoy Product to a Product

question 83

Multiple Choice

Adding a similar but inferior decoy product to a product line increases the attractiveness of the other products.This is known as the:

• A)part-list cuing
• B)price-quality heuristic
• C)attraction effect
• D)compromise effect
• E)anchoring-and-adjustment heuristic

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Definitions:

Safety Needs

The second level in Maslow's hierarchy of needs, encompassing the human desire for security, safety, and physical well-being.

Managerial Ethics

Principles and standards that guide behavior in the world of business, including fairness, honesty, and integrity.

Corporate Social Responsibility

The concept that businesses should be accountable for their impact on society and the environment, going beyond profit-making to ethical, social, and ecological concerns.

Mary Parker Follett

An early 20th-century social worker and management consultant who emphasized the importance of human relations and collaborative management in organizations.