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The Brown sisters own Creative Catering and would like to improve customer satisfaction and increase repeat business. When you ask them to describe a typical customer, they say it is impossible and explain that with corporate functions, family affairs, and fundraisers, they do not have a typical customer. Why should they use market segmentation?
Optimistic Bias
The tendency to believe that one is less likely to experience negative events and more likely to experience positive events compared to others.
Pessimistic Bias
The tendency to overestimate the likelihood of negative outcomes or events happening in the future.
Balanced View
An approach or perspective that fairly considers all relevant aspects of an issue, avoiding extremes in judgment or opinion.
Attribution
The process by which individuals explain the causes of behavior and events; attributions can be internal (due to personal factors) or external (due to situational factors).
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