The ________ Hierarchy of Effects Assumes the Consumer Does Not

question 90

Multiple Choice

The ________ hierarchy of effects assumes the consumer does not initially have a strong preference for one brand over another. Instead, a consumer acts on the basis of limited knowledge and then forms an evaluation only after the product has been purchased or used.

• A) experiential
• B) habitual
• C) low-involvement
• D) standard learning

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Definitions:

Inflation

A rise in the general level of prices in an economy; an increase in an economy’s price level.

Legal Tender

Any form of currency that by law must be accepted by creditors (lenders) for the settlement of a financial debt; a nation’s official currency is legal tender within its own borders.

Political Candidates

Individuals who run for office in governmental elections, seeking to hold a position within a government body.

Consumer Sovereignty

The theory that consumer preferences determine the production of goods and services, making consumers the driving force of the economy.