When Consumers Make Consumption Decisions Based on an Association Between

question 89

Multiple Choice

When consumers make consumption decisions based on an association between the product,brand name,or service,and the country in which it was made,this is referred to as ________.

• A) jumping to conclusions
• B) stereotyping
• C) country of origin effects
• D) the halo effect
• E) judging value

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Definitions:

Base Rate Fallacy

A cognitive error where people wrongly judge the likelihood of a situation by ignoring general statistical information and focusing on specific information.

Gambler's Fallacy

The erroneous belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future, or vice versa.

Overestimation Fallacy

The cognitive bias of overestimating one's own abilities, performance, level of control, or chances of success.

Manual Babbling

Early non-verbal gestures or movements made by infants that precede the development of spoken language.