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According to Exchange Theory, What "Value" Does a Customer Look

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According to exchange theory, what "value" does a customer look for in a sales interaction with a salesperson?


Definitions:

Group Attribution Error

The tendency to overemphasize dispositional or personality-based explanations for the behavior of individuals in a group, while underestimating the role of external factors.

Stereotyped Thinking

The practice of having oversimplified and generalized beliefs about certain groups or categories of people.

Law of Small Numbers

A cognitive bias that leads people to infer or generalize outcomes from a small sample size, mistakenly treating it as representative of a larger population.

Double-Standard Thinking

The application of different sets of principles for similar situations, often leading to unfair or biased judgments.

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