Heuristics can come into play when consumers forecast the likelihood of future outcomes or events. When would a consumer use an anchoring and adjustment heuristic?
What will be an ideal response?
Consumers will use this heuristic when the consumer arrives at an initial judgment and then makes adjustments of that first impression based on additional information.
Business
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Which of the following is a disadvantage of online focus groups?
A) Responses are not instantaneous. B) Controlling the online sample is difficult. C) Results take a long time to tabulate and analyze. D) Facility, technology, and travel costs are very high. E) Researchers are unable to view the sessions in real-time.
Business
________ means that the price of similar goods is the same, regardless of which currency one uses to buy the goods
A) Interest rate parity B) Purchasing power parity C) Currency parity D) Expectation parity
Business