What Should Entrepreneurs Do in Communicating About Their Product During

question 50

Multiple Choice

What should entrepreneurs do in communicating about their product during a crowdfunding campaign?

• A)Communicate the message of your product in no more than two sentences.
• B)Cescribe the details of your product so that it is distinct from similar products.
• C)Provide images and pictures of the product or service.
• D)Provide flexibility in the final form of your product.

---

Definitions:

Anchoring

A cognitive bias that describes the human tendency to rely too heavily on the first piece of information offered when making decisions.

Time Inconsistency

The human tendency to systematically misjudge at the present time what will actually end up being desired at a future time.

Precommitments

Strategic decisions or investments made in advance to lock in certain behaviors, goals, or outcomes.

Time Inconsistency

A situation where a decision-maker's preferences change over time, often leading to a conflict between long-term goals and short-term gratification.