When Forming Judgments About Others,people Often Rely on the Representativeness

question 74

Multiple Choice

When forming judgments about others,people often rely on the representativeness heuristic.Unfortunately,this can lead people to

• A) ignore how much a person resembles a prototypical group member.
• B) use information that is causally relevant.
• C) rely too heavily on base-rate frequency information.
• D) ignore base-rate information.

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Definitions:

Perceived Customer Benefits

The advantages or value that consumers believe they gain from purchasing and using a product or service.

Standard Markup

The routine addition of a set percentage to the cost of goods to establish the selling price, commonly used in retail to ensure profitability.

Effective Pricing Decisions

The strategic determination of product prices to maximize profits and meet market demand.

Customer Relationship Management

A strategy for managing an organization's relationships and interactions with customers and potential customers, utilizing data analysis to improve business relationships and drive sales growth.