The Examples of Mental Accounting,prospect Theory and Perceived Risk All

question 68

True/False

The examples of mental accounting,prospect theory and perceived risk all remind a marketer that the customer's perception is more important than an objective reality when trying to understand consumer behaviour.

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Definitions:

Lessor

The party who owns a property or asset and leases it out to another party, known as the lessee, under a lease agreement.

Express Warranty

An explicit guarantee made by the seller regarding the quality, condition, or performance of a product.

Formal Words

Specific language required or recognized by law to create a binding agreement or to perform a legal act.

Guarantee

A formal assurance or promise, often in writing, that certain conditions will be fulfilled, including the quality or durability of a product or the completion of an obligation.