Even Though Vusi Never Actually Exercises, You Have Always Assumed

question 72

Multiple Choice

Even though Vusi never actually exercises, you have always assumed that he is an athlete because he hangs around at the gym (like other athletes) , drinks bottled water nonstop, and wears sweat suits everywhere.Your (false) assumption that Vusi is an athlete is MOST clearly an example of the ____.

• A)availability heuristic
• B)actor-observer bias
• C)representativeness heuristic
• D)anchoring and adjustment heuristic

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Definitions:

Differentiation Strategy

A business approach where companies aim to develop and market unique products or services to stand out from competitors and attract a specific segment of customers.

Competitive Advantage

A scenario or element that positions a firm in a more favorable or advantageous spot relative to its competitors.

Unique Products

Goods that are distinct in nature, offering uncommon features or benefits not typically found in similar items.

Market Demand Curve

The market demand curve represents the total quantity of a good or service that all consumers in a market are willing to purchase at various prices.