How Can Marketers Reduce Consumers' Cognitive Dissonance

question 138

Multiple Choice

How can marketers reduce consumers' cognitive dissonance?

• A) Offer guarantees
• B) Offer sales promotions
• C) Avoid contradictory information
• D) Change the product
• E) Ignore it

Recognize the implications of not incorporating external environmental factors into HR forecasting.

Understand the process of reducing HR surplus through various strategic approaches.

Identify external factors that affect HR forecasting.

Acknowledge critical skills necessary for effective HR planning.

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Definitions:

Long Run

A period in which all factors of production and costs are variable, and companies can adjust all inputs to the production process.

Market Price

The actual selling price of a good or service in the marketplace, determined by supply and demand.

Price Takers

Market participants who accept prevailing prices because they have no power to influence the market price due to their small market share.

Perfect Competition

A market structure characterized by a large number of small firms, homogeneous products, free entry and exit, and perfect information, leading to firms being price takers.