ECONOMICS

Detailed explanation-1: -The correct option is C) conspicuous consumption. Conspicuous consumption is not one of the five stages in the buyer decision process; it is the expenditure on consuming luxuries or lavish items to enhance one’s status and lifestyle.

Detailed explanation-2: -These steps include getting aware about the product, searching about it, and evaluating the products available in the market and making a choice. Demographic analysis is not a part of the process. Hence, the right option is b.

Detailed explanation-3: -Psychological factors include gender, age, family life cycle stage, personality, self-concept, and lifestyle. Social, individual, and psychological factors do not affect a decision-making process. Cultural factors exert the broadest and the deepest impact on consumer behavior.