The just meaningful difference (JMD)represents:
A) the smallest amount of change in a stimulus that would influence consumer consumption and choice.
B) how consumers interpret different information in ways that are biased by their previously held beliefs.
C) the contrast reaction that occurs when a stimulus has characteristics that can be readily recognized as an example of a specific category.
D) how consumers form opinions about one brand over another based on the information provided by marketers.
E) the process by which consumers filter out unwanted details when they are exposed to a stimulus.

Question

Quizplus · Accepted Answer

The just meaningful difference (JMD) is the smallest amount of change in a stimulus (such as price, quantity, or product features) that would influence consumer consumption and choice. It is important for marketers to understand the JMD in order to make effective pricing and product decisions.

The Just Meaningful Difference (JMD)represents