A tendency for a good to come into favor with consumers because other consumers have chosen to buy the item is
A) price-leadership.
B) a negative-sum game.
C) positive market feedback.
D) negative market feedback.

Question

Quizplus · Accepted Answer

This is known as positive market feedback, where the popularity of a product increases due to the positive experiences and choices of other consumers. It can create a self-reinforcing cycle where more people buy the product, causing even more people to want it. This phenomenon is often referred to as the "Bandwagon Effect." Price-leadership refers to a marketing strategy where a company sets prices that competitors follow. A negative-sum game is a situation where one person's gain is another person's loss, resulting in a net loss overall. Negative market feedback refers to negative reactions from consumers about a product or service.

A Tendency for a Good to Come into Favor with Consumers