The following table shows Alexi’s preference ranking for different brands of jea
ID: 1128136 • Letter: T
Question
The following table shows Alexi’s preference ranking for different brands of jeans for 2011 and 2012. His preferences are ranked from 1 to 4, where 4 is his most-preferred brand and 1 is his least-preferred brand. In 2011, 1,439 of the 28,000 men attending Alexi’s college owned a pair of Joe’s Jeans. In 2012, a survey showed that 9,421 of the 28,560 men attending Alexi’s college owned a pair of Joe’s Jeans. Based on this information, the change in Alexi’s preference ranking for Joe’s Jeans from 2011 to 2012 can be best explained by the ________ effect.
Brand of Jeans 2011 Preference Ranking 2012 Preference Ranking Citizens of Humanity 2 2 True Religion 1 1 Seven for All Mankind 4 3 Joe’s Jeans 3 4Explanation / Answer
Network effect because when more people wore Joe's jeans in 2011 then , it gains additional value . Therefore, in 2012 , now more people start preferring Joe's jeans . This is because of network externality effect.
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