Asked by NOYAN ALI.K on Jul 24, 2024
Verified
The halo effect is used to describe the impact that introducing a new product to the market can have on company sales of existing products.
Halo Effect
A cognitive bias where the perception of one positive characteristic of a person or entity influences the overall impression, often leading to unjustified favorable evaluations.
New Product
An item or service that has been recently developed or introduced to the market, aiming to meet consumer demand or open new markets.
- Comprehend the principle of the halo effect within marketing and its possible influence on the perception of products and sales for the company.
Verified Answer
NA
Nader AbbasiJul 25, 2024
Final Answer :
False
Explanation :
The halo effect refers to the cognitive bias where the perception of one positive trait (such as attractiveness or a single positive aspect of a product) influences the overall judgment of a person or product, rather than specifically describing the impact of new products on existing product sales.
Learning Objectives
- Comprehend the principle of the halo effect within marketing and its possible influence on the perception of products and sales for the company.