Changing Importance Weights Is Difficult Because

question 102

Multiple Choice

Changing importance weights is difficult because

• A) it involves the addition of a new benefit.
• B) importance weights reflect customers' personal values.
• C) many customers make purchases based on a single attribute.
• D) the retailer needs to improve performance on all benefits.
• E) the retailer has to include a wide range of fair trade merchandise.

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Definitions:

Preexisting Duty Rule

A legal principle stating that an existing contractual obligation cannot serve as consideration for a new contract.

Bilateral Contract

A bilateral contract is a mutually binding agreement in which each party makes a promise to the other, such as a promise to perform a service in exchange for payment.

Illusory Promise

Describes a statement or agreement that appears to be a promise but is too vague or has terms that allow the promisor to avoid any real obligation.

Consideration

Something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.