Question

The just meaningful difference (JMD) refers to: A. The process by which consumers give humanlike characteristics to inanimate objects. B. The smallest amount of change in a stimulus that would influence consumer consumption and choice. C. A situation where a stimulus is sufficiently stronger than another so that someone can actually notice that the two are not the same. D. The way in which consumers interpret information in ways that are biased by their previously held beliefs. E. The process of screening out certain stimuli and purposely exposing oneself to other stimuli.

Answer 1

Answer:

B. The smallest amount of change in a stimulus that would influence consumer consumption and choice.

Explanation:

The just meaningful difference (JMD) refers to the smallest amount of change in a stimulus that would influence consumer consumption and choice.

For instance, when the price of a particular product rises from $5.0 to $6.5, consumers wouldn't be motivated to buy such a product again and may choose to go for its close substitutes.

Hence, in marketing it is important to introduce a stimulus plan that will significantly increase consumer consumption and choice in order to increase sales and make profit.