This example illustrates the fundamental attribution error. It is a tendency of a person that explain a certain behavior of someone based on that person's personality. This is to underestimate the effect of external factors like events that happened which lead to that person's behavior at that moment.
Answer:
The planning fallacy
Explanation:
The planning fallacy concept was first given by Denial Kahneman in 1977.it is the most universal and consistent demonstrated cognitive bias that most people do have. There is common misconception related to the planning fallacy is that people underestimate the time, cost and risk that it will take to do something, If they have already experience about the task entails. It is an overly optimistic plan.
<u>For example:</u> A house can be built on time, if there is no payment delay, no employee absences, no hazardous weather conditions. But there is most probably chances of one condition that can occur.
Underestimate the fallacy will lead a project in delaying. Optimism is a great quality but sometimes it creates hazardous when you underestimate time and cost and will leads to the in-completion of the projects.
Answer:
Insight #1: Asia’s consumers know what they want, and they want it now
Asian consumers make decisions quickly. In Vietnam and Thailand, 97% of smartphone users say that online research has contributed to them making purchase decisions more quickly now than they did a few years ago And consumers’ decisions aren’t just faster, they’re also better informed. A staggering 96% of smartphone users in India say that, thanks to online research, they’re making more informed purchase decisions than a few years ago. This is compared to just 59% of people in the U.S. who feel the same Insight #2: In Asia, brand loyalty is built moment-by-moment
Asia Pacific’s mobile-first consumers are open to new brands, which is exciting news for marketers. The key is being there. In Japan, 96% of smartphone users said they aren’t absolutely certain of the specific brand they want to buy when they begin looking for information online,When consumers start searching, they’re all ears.
Even when consumers do have a particular brand in mind, seeing the right information at the right time can make them change their decision. We found that 80% of smartphone users in Hong Kong have actually purchased a brand they wouldn’t normally consider because of relevant information shown to them on their smartphones in those moments. By contrast, only 1 in 3 of U.S. consumers say this.
Marketer takeaway: Be there. Asia Pacific consumers are open to brands across all stages of the consumer journey, but they can’t choose you if you aren’t there. It’s simple: commit to being there in consumers’ moments of need by showing up in category-relevant searches on mobile.
Explanation:
2. glossary. hope it helps
Answer:
The sociological significance is that the classification into dominant and minority groups allows the sociology to have an insight into the power relations that configurate the particular society he or she is studying. Besides, it is well known in sociology that aspects like class, power, and the economy are some of the most important to understand any society from an academic point of view.
