ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Economic situations
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Consumption decisions
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Situational influences
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None of the above
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Detailed explanation-1: -Social Class Like culture, it affects consumer behavior by shaping individuals’ perceptions of their needs and wants. People in the same social class tend to have similar attitudes, live in similar neighborhoods, attend the same schools, have similar tastes in fashion, and shop at the same types of stores.
Detailed explanation-2: -Reference groups influence people’s behavior through peer interaction and social perception, impacting the norms, values and desires of the average consumer. Reference groups can be either comparative or normative.
Detailed explanation-3: -In the context of consumer behavior, culture is defined as the sum total of learned beliefs, values, and customs that serve to regulate the consumer behavior of members of a particular society. Beliefs and values are guides for consumer behavior; customs are unusual and accepted ways of behaving.
Detailed explanation-4: -What are Cultural Factors ? Subcultures. Religion (Christianity, Hindu, Muslim, Sikhism, Jainism etc) Status (Upper Class, Middle class and Lower Class) Gender (Male/Female) More items