The Apple Watch Was Released in the Market in 2015

question 297

Multiple Choice

The Apple Watch was released in the market in 2015 as an edition model. This is an example of a

• A) lock-in strategy to retain existing customers.
• B) teaser strategy to gain new customers.
• C) market segmentation strategy to target different groups of customers.
• D) bundling strategy in which there are a group of variations of the product.

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Definitions:

Behavioral Economics

A field of economic research that integrates psychological insights into human behavior to explain economic decision-making.

Negative Emotional Associations

Refers to the unfavorable feelings or emotions that are linked to a particular concept, object, or situation due to past experiences or perceptions.

Self-Serving Bias

The common habit of a person taking credit for positive events or outcomes, but blaming outside factors for negative events.

Cognitive Biases

Systematic patterns of deviation from norm or rationality in judgment, leading individuals to make illogical decisions.