ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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PURCHASE DECISION
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REFLECTS STATUS
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Marketing factors
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None of the above
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Detailed explanation-1: -Experts agree that there are four main types of consumer behavior: complex-buying behavior, dissonance-reducing buying behavior, habitual buying behavior, and variety-seeking buying behavior.
Detailed explanation-2: -The customer is highly involved in the buying process and thorough research before the purchase due to the high degree of economic or psychological risk. Examples of this type of buying behavior include purchasing expensive goods or services such as a house, a car, an education course, etc.
Detailed explanation-3: -Personality. Personal factors, which can include age, lifestyle, economic bracket, orientation, occupation and personality traits, influences buyer behaviour.
Detailed explanation-4: -1. Problem recognition. The first step of the consumer decision-making process is recognizing the need for a service or product. Need recognition, whether prompted internally or externally, results in the same response: a want.