Consumers Are Less Likely to Spread Word-Of-Mouth When a Product

question 33

True/False

Consumers are less likely to spread word-of-mouth when a product is particularly relevant to their own self-concept and when they are highly involved with the product category.

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Definitions:

Economies of Scale

Advantages in costs that companies gain by operating at larger scales, resulting in lower cost per unit as the scale expands.

Product Innovation

The process of developing new products or improving existing ones to meet changing consumer needs and preferences.

Process Innovation

The implementation of new or significantly improved production or delivery methods, enhancing efficiency or quality in the manufacturing or service sectors.

Venture Capital

Financing provided by investors to startups and small businesses with long-term growth potential.