List and briefly describe the three different sets of options formed by customers in the search for alternatives through internal and external information sources
What will be an ideal response?
a. Evoked or consideration set – this is the set of products from which the customer will choose to purchase.
b. Inert set – this is the set of products that the customer has no intention of buying or has no information about.
c. Purchase set – this is the set of products the customer has actually chosen within a specified period of time.
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Where two parties contract for the purchase and sale of an ordinary item, such as a desk, that
unknown to both parties is a rare and valuable example of that item, this is: A) A case of fraud in the inception. B) A unilateral mistake. C) A case of fraud by concealment. D) A mutual mistake of fact. E) A mistake of value, but not a mistake of fact.
The possible responses to the question "How many people are there in your household?" are values from a
A) discrete numerical variable. B) continuous numerical variable. C) categorical variable. D) table of random numbers.