Examlex
Which type of sales communications format makes the assumption that customer needs and buying motives are homogeneous?
Utility Maximization
The process by which consumers allocate their income in a way that maximizes their overall satisfaction.
Rules of Thumb
Simple, general principles or guidelines that are used to make decision-making quicker, albeit less precise, often based on practical experience rather than theory.
Decision Making
Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.
Biases
Systematic patterns of deviation from norm or rationality in judgment, where particular feelings or opinions influence decision-making.
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