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Consumer Decisions Regarding the Products They Buy Are Often Influenced

question 63

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Consumer decisions regarding the products they buy are often influenced by their nationality,religion,or ethnic origin.Marketers realize that the consumer decision-making process is impacted by the consumers' ________.


Definitions:

External Locus

An individual's belief that their success or failure is influenced by external factors or forces beyond their control.

Millennial

A Millennial is a person born approximately between 1981 and 1996, known for being tech-savvy, value-driven, and significantly influenced by the rise of the internet and social media.

Market Savvy

Having a keen understanding of market dynamics, including recognizing opportunities and threats within the competitive landscape.

Global Mind-Set

The ability to appreciate and adapt to different cultural norms and practices in a global business environment.

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