Price, Appearance, and Reputation Can Influence a Consumer's Perceptions of Quality

question 20

True/False

Price, appearance, and reputation can influence a consumer's perceptions of quality.

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Definitions:

General Sales Agent

An individual or company authorized to sell or distribute a manufacturer's products in a specific area or market.

Express or Implied Authority

Power granted by a principal to an agent, which can be explicitly stated (express) or inferred from actions, circumstances, or job title (implied).

Disclosed Principal

In the realm of agency law, a principal whose identity the third party is aware of when the agent enters into a contract with that third party.

Unauthorized Contract

An agreement made by someone who does not have the legal right or power to do so on behalf of another person or entity.