A company launches a new product, and initially, sales are slow. However, after a successful influencer marketing campaign shows many popular figures using the product, sales dramatically increase as more and more people decide to buy it, believing in its quality because 'everyone else is doing it'. This phenomenon is best explained by which cognitive bias?

The correct answer to the question "A company launches a new product, and initially, sales are slow. However, after a successful influencer marketing campaign shows many popular figures using the product, sales dramatically increase as more and more people decide to buy it, believing in its quality because 'everyone else is doing it'. This phenomenon is best explained by which cognitive bias?" is Option C: Bandwagon Effect.

The other options — A) Confirmation Bias, B) Anchoring Bias, D) Sunk Cost Fallacy — are incorrect for this General Knowledge question. As explained above: The Bandwagon Effect is a cognitive bias where people do something primarily because others are doing it, regardless of their own beliefs, which can lead to the acceptance of popular trends or belief…