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MGT 103 chapter 5 Questions And Answers extended problem solving a purchase decision process during which the consumer devotes considerable time and effort to analyzing alternatives; often occurs when the consumer perceives that the purchase decision entails a lot of risk limited problem solv...

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  • October 23, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mgt 103 chapter 5 questions and answers

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MGT 103 chapter 5 Questions And Answers

extended problem solving a purchase decision process during which the consumer devotes

considerable time and effort to analyzing alternatives; often occurs when the consumer perceives

that the purchase decision entails a lot of risk




limited problem solving occurs during a purchase decision that calls for, at most, a

moderate amount of effort and time




routine problem solving consumers recognize a problem, make a decision, and spend little

effort seeking external information and evaluating alternatives




brand loyalty a favorable attitude toward and consistent purchase of a single brand over

time




opinion leaders individuals who exert direct or indirect social influence over others




reference groups people to whom an individual looks as a basis for self-appraisal or as a

source of personal standards

, MGT 103 chapter 5 Questions And Answers
brand community a specialized group of consumers with a structured set of relationships

involving a particular brand, fellow customers of that brand, and the product in use




consumer socialization the process by which people acquire the skills, knowledge, and

attitudes necessary to function as consumers




family life cycle the distinct phases that a family progresses through from formation to

retirement, each phase bringing with it identifiable purchasing behaviors




social class the relatively permanent, homogeneous divisions in a society into which

people sharing similar values, interests, and behavior can be grouped




Subculture subgroups within the larger, or national, culture with unique values, ideas, and

attitudes




situational influences Impact on the purchase decision process: the purchase task, social

surroundings, physical surroundings, temporal effects, antecedent states

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