According to the Text,___________ Is the Key Component in Developing

question 102

Multiple Choice

According to the text,___________ is the key component in developing successful marketing strategies and avoiding major marketing blunders in the international marketing environment.

• A)public relations
• B)information
• C)advertising
• D)government support
• E)"deep pockets"

---

Definitions:

Behavioral Economics

A field of economics that studies how psychological, social, cognitive, and emotional factors affect the economic decisions of individuals and institutions.

System 1

Refers to our mental system primarily responsible for quick, instinctual, and often subconscious decisions and judgments, contrasting with deliberate and analytical thinking processes.

System 2

refers to a theory of decision-making proposed by Daniel Kahneman that emphasizes slow, deliberate, and analytical reasoning.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind, affecting the perception of the frequency or likelihood of events.