Project Kappa Will Cost $80,000 and Is Expected to Pay

question 48

Multiple Choice

Project Kappa will cost $80,000 and is expected to pay back $20,000, $30,000, $25,000, $25,000, $10,000, and $10,000 at the end of each of the following six years. What is its payback period?

• A)2 years
• B)5 years
• C)4 years
• D)3 years

Define and differentiate between the evoked set, the inept set, and the inert set in consumer behavior.

Appreciate the psychological aspects influencing consumer decisions, such as heuristics and decision rules.

Understand the concept of ethnocentrism and its impact on consumer preferences and behavior.

Comprehend what decision-making heuristics are and identify three common heuristics utilized in consumer decision-making.

---

Definitions:

Hearing Nuances

The ability to detect subtle variations in sound, often important in language acquisition, music appreciation, and social interactions.

Speech

The verbal means of communicating or expressing thoughts, ideas, or feelings.

Sensory Threshold

The minimum level of stimulus intensity required for a sense organ to detect a stimulus, marking the boundary between absence and presence of a sensation.

Working Memory

The cognitive system that holds information temporarily available for processing tasks such as problem-solving and planning.