Phil Has Observed That Today's Car Buyers Are More Knowledgeable

question 53

Multiple Choice

Phil has observed that today's car buyers are more knowledgeable than car buyers in the past,primarily due to the Internet. Such car buyers gather information on all aspects of a car,from the manufacturing process to service contracts,and they respond best to a value-added selling strategy. What advice should Phil most likely give to his sales team when they are faced with such knowledgeable buyers?

• A)Drop the price significantly under the list price.
• B)Create rapport with the buyer to build instant customer loyalty.
• C)Tailor the product to the buyer's needs and provide superior service.
• D)Augment the product by adding extra features for only a minimal fee.
• E)Appeal to the buyer's sense of style and luxury through differentiation.

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Definitions:

Commons Dilemma

A situation in which individuals or groups must balance their own interests with the public good, often involving shared resources.

Social Loafing

The tendency for individuals to reduce their effort when working in a group compared to when working alone.

Bystander Effect

A social psychological phenomenon where people are less likely to offer help to a victim when other people are present.

Social Trap

A situation where individuals or groups are unable to cooperate, resulting in negative outcomes for all involved due to conflicting interests.