Many Rebate Programs Are More Effective Because Consumers Get Excited

question 10

True/False

Many rebate programs are more effective because consumers get excited about them and this leads them to wait patiently until one is offered before making a purchase.

Comprehend the concepts of internal and external attributions, fundamental attribution error, and self-serving bias; understand their relevance for managers.

Identify and describe the stages in the perceptual process.

Grasp the concept and application of discouraging behaviors through negative consequences.

Understand the principle of reinforcing behaviors by administering positive consequences.

---

Definitions:

Value Judgments

Evaluations based on individual or societal beliefs about what is good, desirable, or worthwhile, often influenced by personal ethics or morals.

Law of Averages

A layman's term for the statistical principle that over time, outcomes will tend towards the expected average; not a formal economic law. NO.

Microeconomics

The branch of economics that studies individual units of the economy, such as households and firms, and their interactions in markets.

Macroeconomics

The branch of economics that studies the behavior and performance of an economy as a whole, focusing on aggregate outcomes such as economic growth, inflation, and unemployment.