What Product Characteristic Refers to the Situation Where Consumers Place

question 6

Multiple Choice

What product characteristic refers to the situation where consumers place higher value on a product if other consumers also use it?

• A)Value creation effect
• B)Product linkage
• C)Product externality
• D)Complementary effect
• E)Network effect

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Definitions:

Placebo Effect

The phenomenon in which patients experience a perceived improvement in condition solely due to the belief that they are receiving treatment.

Withdrawal

Symptoms that occur upon the reduction or cessation of intake of a substance that one has become dependent on.

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus, leading to learned responses.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment, introduced by B.F. Skinner.