What is prospect theory, Name two ways in which a consumer

What is prospect theory

Reference no: EM131847282

Question: 1. Name two ways in which a consumer problem arises. Give an example of the sunk-cost fallacy.

2. What is prospect theory? Does it support the argument that we are rational decision makers?

3. "Marketers need to be extra sure their product works as promised when they first introduce it." How does this statement relate to what we know about consumers' evoked sets?

Reference no: EM131847282

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