Cognitive Dissonance Refers to

question 230

Multiple Choice

Cognitive dissonance refers to

• A)feelings of guilt for purchasing a product or service that was not consistent with a consumer's moral or ethical beliefs.
• B)feelings of discomfort associated with purchasing something purely for the sake of prestige.
• C)the feeling of postpurchase psychological tension or anxiety consumers may experience when faced with two or more highly attractive alternatives.
• D)feelings of discontent after a purchase has been made when the product fails to perform up to expectations.
• E)feelings of discontent after a purchase has been made when the customer finds out that he or she paid more than necessary.

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Definitions:

Sales

The total number of goods or services sold within a specific time period.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating its sensitivity to price changes.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase at various prices.