How do heuristics affect a consumer's decision-making process? Give two examples of heuristics you might use when shopping
What will be an ideal response?
Hueristics are decision guidelines, or mental rules-of-thumb, that help consumers evaluate the merits of competing brand claims. The more heuristics a consumer has, the easier the consumer decision-making process is. For example, if you know that a particular brand of jeans always fits just right, then you will not spend time looking at other brands. Brand loyalty is the most commonly used heuristic. Other common heuristics include country-of-origin preferences and "price = quality."
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All the following are standard life insurance dividend options EXCEPT
A) taking the dividend as an income tax-free cash distribution from the insurer B) using the dividend to purchase a unit of paid-up whole life insurance C) using the dividend to increase the base whole life policy's face amount D) leaving the dividends with the insurer to accumulate at interest in a cash account"
Explain product line pricing. Provide an example
What will be an ideal response?