Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You work at a store that sells stereo equipment. The manager is thinking of dropping the most expensive item because sales of this product are
You work at a store that sells stereo equipment. The manager is thinking of dropping the most expensive item because sales of this product are very low (close to zero) and this model is not perceived by customers to be that high-end quality. Based on what we have studied in this class, why might you discourage the manager from this action? Group of answer choices The other items might look more attractive because of the expensive option and their sales might be high due to the attraction effect Keeping more items in the store might cognitively overwhelm customers and prompt them to use System 2 thinking, which could lead to more impulsive purchases Customers use the expensive stereo equipment as a default and therefore are inclined to purchase more Having expensive stereos on the shelf might give the store a high-end image and attract higher income customers
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started