The Technique of Getting a Commitment from a Potential Customer

question 19

Multiple Choice

The technique of getting a commitment from a potential customer and then changing the terms of the agreement is best described as

• A) reciprocal concession.
• B) cognitive dissonance.
• C) the foot-in-the-door technique.
• D) lowballing.

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Definitions:

Highly Concentrated

Describes a market or industry dominated by a small number of firms, leading to reduced competition and possibly higher prices and lower output.

Kaiser Aluminum

A key company in the aluminum industry, known for its operations worldwide.

Oligopoly

A market structure characterized by a small number of firms dominating the market, leading to competitive yet collusive behavior among the firms.

Mutual Interdependence

A condition in which the actions of one participant in a market or industry significantly affect others, typically seen in oligopolistic markets.