While Making Purchasing Decisions, Consumers May Be Influenced by _____

question 94

Multiple Choice

While making purchasing decisions, consumers may be influenced by _____ factors which include physical surroundings or a buyer's mood and condition.

• A) institutional
• B) social
• C) psychological
• D) situational

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Definitions:

Opportunity Cost

The forfeiture of potential advantages from various alternatives upon choosing one.

Control Over

The authority or power to regulate, direct, or dominate a situation, process, or entity.

Technological Advances

Innovations and improvements in technology that increase productivity and potentially lead to economic growth and development.

Specialized Resources

Resources uniquely suited for a specific type of production or service, enhancing efficiency.