Discuss how reference groups and opinion leaders influence purchase behavior.
What will be an ideal response?
A reference group is a group, either large or small, with which a person identifies so strongly that he or she adopts the values, attitudes, and behavior of group members. Reference groups can affect whether a person does or does not buy a product at all, buys a type of product within a product category, or buys a specific brand. The extent to which a reference group affects a purchase decision depends on the product's conspicuousness and on the individual's susceptibility to reference group influence.An opinion leader is a member of an informal group who provides information about a specific topic, such as smartphones, to other group members seeking information. An opinion leader is likely to be most influential when consumers have high product involvement but low product knowledge, when they share the opinion leader's values and attitudes, and when the product details are numerous or complicated.
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Which of the following statements about diversity is true?
A) Diversity includes not only race and ethnicity, but also gender, sexual orientation, disabilities, and so on. B) The workplace is in?uenced by our nation's global interdependence. C) Today you are more likely to interact with people who are ethnically and linguistically different. D) All of the above are true.
The Automotive Department of K-Seers Corp shows net sales of $1,320,500 for tires and $759,800 for other goods. It has been determined that the tires cost $834,000 and the other goods cost $372,100 . What is the gross profit for the Automotive Department?
a. $2,080,300; b. $874,200; c. $387,700; d. $1,206,100; e. $486,500
Statutes that require proof of character and skill and impose a penalty for violation are considered:
A. revenue raising. B. usury. C. wagering. D. regulatory.
May, Inc. had the following transactions in 2019, its first year of operations:
• Issued 20,000 shares of common stock. The stock has a par value of $3.00 per share and was issued at $19.00 per share. • Issued 2000 shares of $200 par value preferred stock at par. • Earned net income of $40,000. • Paid no dividends. At the end of 2019, what is the total amount of paid-in capital? A) $820,000 B) $460,000 C) $380,000 D) $780,000