If a Company Is Using Coupons or Buy-One-Get-One-Free Promotions to Reduce

question 144

Multiple Choice

If a company is using coupons or buy-one-get-one-free promotions to reduce the existing inventory of a product,that product is most likely in what stage of the product life cycle?

• A)introduction
• B)growth
• C)maturity
• D)decline

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Definitions:

Cognitive Dissonance

The mental unease felt by a person when they simultaneously possess conflicting beliefs, ideas, or values.

Internal Search

The process by which consumers use their own memory and knowledge to identify possible choices in purchasing decisions.

External Search

The process consumers engage in by seeking information from sources outside of their personal knowledge base to make informed purchase decisions.

Problem Recognition

The initial step in the buying process where a consumer identifies a need or a problem that triggers the search for a product or solution.