Which of the following is an effect of social influences on consumer buying decisions?
a. Consumers base decision making on the values and beliefs of their culture.
b. Consumers rely on personal experience to make a buying decision.
c. Consumers seek out the opinions of others for decision making.
d. Consumers make decisions based on their ideal self-image.
ANSWER: c
Social factors such as reference groups and opinion leaders influence consumers who seek out the opinions of others to reduce their search and evaluation effort or uncertainty, especially as the perceived risk of the decision increases.
You might also like to view...
Using point-of-sale data to evaluate point-of-purchase (POP) displays can help manufacturers strengthen partnerships with retailers on the use of POP displays
Indicate whether the statement is true or false
Discuss what employers look for during an interview
What will be an ideal response?
The "Little Tucker Act" provides federal district courts concurrent jurisdiction in
certain cases with the Claims Court when the amount in controversy is under: a. $10,000 b. $15,000 c. $20,000 d. $25,000
Which of the following is a factor that is most likelyto discourage people from trying to spend funds from their retirement accounts?
A. Funds from retirement accounts cannot be invested in stocks and bonds. B. The Internal Revenue Service usually adds a10% penalty for early withdrawals from retirement accounts. C. Earnings from retirement accounts are nontaxable only if they are withdrawn at least 25 years after starting the account. D. The Securities and Exchange Commission freezes retirement accounts after a single instance of early withdrawal from the accounts.