Match List I with List II. List I List II Choose the correct matching.
(a) Anchoring bias
(b) Escalation of commitment
(c) Confirmation bias
(d) Hindsight bias
(i) Selectively seeking or interpreting information that confirms existing beliefs
(ii) Persisting with a decision despite evidence that it is wrong
(iii) Falsely believing, after an outcome is known, that it was predictable beforehand
(iv) Fixating on initial information and adjusting insufficiently from it
(a) - (iv); (b) - (ii); (c) - (i ); (d) - (iii)
The correct matches are (a)–(iv), (b)–(ii), (c)–(i), (d)–(iii). Anchoring overweights initial information, escalation sustains a failing commitment, confirmation favours supporting evidence, and hindsight exaggerates how predictable a known outcome was.
Important Questions from Promotion decisions
- Assertion (A): Movie stars and sporting heroes are popularly used as Brand ambassadors.
Reason (R) : Attractive communicators (sources) are more effective in persuading for change than unattractive ones.
Codes : Advertising method in which a commercial is broadcast simultaneously on several radio stations and/or television channels is known as
- Select the correct sequence for Hierarchy-of-effects model related to marketing communication :
The major advantage of the direct mail marketing is :
- Match the items of List – I with the items of List – II and select the correct code.
List – I List – II (a) Coupons (i) Using one brand to advertise another non-competing brand. (b) Tie-in Promotions (ii) Offers to consumers of savings off the regular price of a product. (c) Cross Promotions (iii) Certificates entitling the bearer to a stated saving on the purchase of a specific product. (d) Price Packs (iv) Two or more brands or companies team up on coupons, refunds, and contests to increase pulling power.
Codes :
