A Consumer's Purchases Are Often Influenced by the Views, Opinions

question 348

Multiple Choice

A consumer's purchases are often influenced by the views, opinions, or behavior of others. Two important aspects of personal influence to marketing are

• A) lifestyle and motivation.
• B) personality and lifestyle.
• C) opinion leadership and word-of-mouth activity.
• D) word-of-mouth activity and psychographics.
• E) psychographics and demographics.

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Definitions:

Descriptive Economics

A branch of economics that focuses on describing economic phenomena, without making judgments or recommendations.

Empirical Economics

The branch of economics that focuses on using data and statistical methods to analyze economic theories and test hypotheses.

Macroeconomics

The branch of economics that studies the behavior and performance of an economy as a whole, focusing on aggregate indicators such as GDP, unemployment rates, and inflation.

Limited Resources

The finite availability of resources that are used for the production of goods and services.