Groups Whose Value Structures and Standards Influence a Person's Behaviour

question 229

True/False

Groups whose value structures and standards influence a person's behaviour are known as reference groups.

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Definitions:

Alternative Weights

Describes different methods or scales used to assign importance or value to variables in mathematical, statistical, or computational models.

Preference Rules

Guidelines or criteria used by individuals to make choices or decisions between alternatives based on personal likes or dislikes.

Evoked Set

A group of relevant brands that a prospective consumer is favorably familiar with when considering a purchase decision.

Functional Risk

The potential for a product or service to fail to meet expected performance standards or fulfill its intended purpose, leading to dissatisfaction or loss.