Which of the Following Illustrates Time and Surroundings as Factors

question 309

Multiple Choice

Which of the following illustrates time and surroundings as factors of the purchase situation that can greatly stimulate buying behavior?

• A)routine trip to grocery store
• B)using mass transit to travel to and from work
• C)Black Friday shopping
• D)buying online
• E)paying a monthly cell phone bill

Differentiate among decision types, such as programmed vs. nonprogrammed decisions and strategic vs. tactical decisions.

Describe the phases in the rational model of decision-making and identify what phases are not included.

Recognize the implications of the "economic man" theory in decision-making.

Understand the role of standard operating procedures and how they influence decision-making in organizations.

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Definitions:

Promissory Estoppel

Promissory Estoppel is a legal principle that prevents a person from going back on a promise, even if it wasn't formally made as a contract, provided others have relied on the promise to their detriment.

Property Manager

An individual or company responsible for the maintenance and operation of real estate properties, acting on behalf of the property owner.

Financial Difficulties

refer to situations where an individual or entity struggles to meet financial obligations due to insufficient funds.

Quantum Meruit

A legal principle that allows a party to receive a reasonable payment for services provided when no specified compensation is involved.