When a Person Does an Internal Search for Product Information

question 58

Multiple Choice

When a person does an internal search for product information and already has sufficient information, the next step of the purchase decision process will be to:

• A)search for additional information.
• B)make the purchase decision.
• C)evaluate the alternatives.
• D)identify the need or problem the choice will meet.

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Definitions:

Competitive Price-Taker

A firm or individual that has no control over the market price and must accept the prevailing price set by market supply and demand.

Profit

The financial gain realized when the revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Price-taker Firm

A firm that has no control over the market price and must accept the prevailing market price for its products.

Marginal Revenue

The extra revenue generated by the sale of an additional unit of a product or service.