__________ Refers to the Tendency for Groups to Make Decisions

question 2

Multiple Choice

__________ refers to the tendency for groups to make decisions that are more extreme than the initial inclinations of their individual members.

• A) Groupthink
• B) The risky shift
• C) Group polarization
• D) Negotiation

---

Definitions:

Multi-Product Pricing

A strategy where businesses set different price levels for various products in their lineup, aiming to maximize profitability across the range.

Yield Management Pricing

This refers to a strategy in marketing and business where prices are constantly adjusted based on the product's or service’s demand, with the aim to maximize revenue.

Cognitive Dissonance

The discomfort in one's mind arising from holding several opposing beliefs, ideas, or values concurrently.

Perceived Risk

The level of uncertainty consumers associate with purchasing a product or service, which can affect their decision-making process.