In Order for Product Differentiation to Be Effective, Real Product

question 323

True/False

In order for product differentiation to be effective, real product differences must be identified so that one product is clearly better than others.

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Definitions:

Elimination-by-aspects

A decision-making model in which choices are systematically rejected based on the absence of specific, desirable attributes.

Lexicographic Rule

A decision rule where choices are compared based on the most important attribute first, then the second most important, and so on, until a decision is made.

Heuristic

A mental shortcut that allows people to solve problems and make judgments quickly and efficiently.

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over another's due to satisfaction with the product and a good experience with the brand.