Briefly describe each step in the consumer decision-making process
What will be an ideal response?
The steps in the consumer decision-making process are problem recognition, information search, evaluation of alternatives, product choice, and postpurchase evaluation. In the problem recognition step, a consumer realizes that there is a significant difference between her current state and a desired state. To solve this problem, she begins the process of deciding on a purchase to achieve that desired state. Once she has recognized a problem, the consumer will conduct an information search, checking her memory and the environment to identify options that might solve her problem. After gathering the product information, the consumer will identify the products that interest her and then narrow down her choices by evaluating the pros and cons of each remaining option. The next step is the actual product choice and purchase. After purchasing the product, the consumer will have some level of satisfaction or dissatisfaction with the product, which is her postpurchase evaluation.
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Indicate whether the statement is true or false
Which of the following is NOT a difference between the percentage-of completion and completed-contract methods of accounting for long-term construction contracts?
a. They report different amounts for inventory during the construction period. b. They report different amounts for progress billings during the construction period. c. They cause a different cash inflow during the construction period. d. They report different amounts for accounts receivable during the construction period.
Which of the following is not a core driver of the information age?
A. Knowledge B. Internet of Things C. Data D. Information
Effective demonstrations reduce a prospect's resistance to making a purchase.
Answer the following statement true (T) or false (F)