What Is a Down-Market Reference Group

question 7

Multiple Choice

What is a down-market reference group?

• A) A less prestigious group of consumers who degrade the value of a luxury brand by consuming it
• B) Consumers who negatively review products in social media settings
• C) Employees at bars, clubs, and other social settings who disguise themselves as regular customers but who are paid actors whose job is to create an atmosphere of sexual excitement
• D) Forms of artificial intelligence ("bots") that promote products on social media, appearing as if they are real people when they are not

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Definitions:

Performance Pay

A compensation strategy that ties an employee's pay directly to their performance and achievements within the organization.

Compensation System

A structured plan designed by an organization to pay its employees, including wages, salaries, benefits, and bonuses.

Total Rewards Approach

A strategy that encompasses all forms of compensation, including salary, benefits, recognition, and development opportunities, to motivate and retain employees.

Compensation System

An organized approach used by employers to determine the value and pay structure for different positions within the organization.