An Example of the Application of the Anchoring and Adjustment

question 125

True/False

An example of the application of the anchoring and adjustment heuristic is the team leader who selects a new member not because of any special qualities of the person,but only because the individual comes from a department known to have produced high performers in the past.

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Definitions:

Geographic Targeting Strategy

A marketing approach that tailors advertising and promotional efforts to consumers in specific geographic areas or locations.

Preferences

Individual choices or tastes that dictate the selection of options or alternatives over others.

Differentiated Marketing Strategy

A marketing approach in which a company develops products or services and marketing campaigns tailored to meet the needs and preferences of different market segments.

Market Segmentation

The process of dividing a market into distinct subsets of consumers with common needs or characteristics, to target them more effectively.