In 1977,Kenneth H

question 66

Multiple Choice

In 1977,Kenneth H.Olsen,then president of Digital Equipment Corp.,announced that there was no reason for individuals to have a computer in their home.Long since disproven,this is an example of

• A) poor forecasting of future consumer demand.
• B) overestimation of uncertainty.
• C) excellent forecasting.
• D) good prediction skills.

Comprehend the individual differences that influence consumer behavior and their significance to marketing strategies.

Understand the concepts of selective distortion and selective retention and their impacts on consumer perception.

Recognize the various roles individuals can play within a buying process and the significance of these roles in decision-making.

Identify and describe different types of B2B customers and their characteristics.

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Definitions:

Genetic Counseling

A process that involves discussing the risks of inherited conditions and genetic disorders, typically with a healthcare professional trained in genetics.

Cognitive Prime

A theoretical concept suggesting there is a prime cognitive ability or function that influences and supports other cognitive processes.

Adolescents

Young people typically between the ages of 13 and 19, during the transitional stage from childhood to adulthood.

Young Adults

People in the age range typically considered to be from late teens through their twenties, often focusing on personal and professional development.