Many consumers correlate price with quality, thinking that the higher the price, the better the quality. For these consumers, all else being equal, higher prices provide a quick signal of product quality. This is an example of a(n):
a. compensatory decision rules
b. non-compensatory decision rule
c. heuristic
d. social factor
e. determinant attribute
Answers: 2
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Many consumers correlate price with quality, thinking that the higher the price, the better the qual...
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