Which of the Following Statements Is True of the Tendency

question 3

Multiple Choice

Which of the following statements is true of the tendency of salespeople to not monitor competitor actions?

• A) When the selling firm is in an invulnerable position, there is no need to study competitor actions.
• B) Studying competitor actions involves locating data that is not easily accessible to everyone.
• C) The selling firm is especially vulnerable during a personnel, technological, and directional change.
• D) Competitor's actions rarely help a company position its products and services better.
• E) The 3-by-3 strategy is designed specifically to help salespeople understand a competitor's actions.

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Definitions:

Representativeness Heuristic

A cognitive bias in which an individual categorizes a situation based on patterns of previous experiences or beliefs about the scenario.

Over-Confidence

A psychological condition where an individual overestimates their knowledge, skill, or importance.

Noise Trader

A trader whose trades are not based on information or meaningful financial analysis.

Day Trading

The practice of buying and selling financial instruments within the same trading day, taking advantage of small price movements.