How Consumers Make Choices Is Influenced by the Personal, Financial

question 148

Multiple Choice

How consumers make choices is influenced by the personal, financial, and social significance of the decision being made, in other words, their level of

• A)self-actualization.
• B)cognitive dissonance.
• C)motivation.
• D)perception.
• E)involvement.

---

Definitions:

Bounded Rationality

A concept suggesting that individuals make decisions based on the limited information available to them and their own cognitive limitations.

Convergent Thinking

A cognitive process where the focus is on narrowing down multiple ideas or solutions to determine a single best solution.

Creative Process

The series of steps or stages involved in generating innovative ideas or solutions, which often include preparation, incubation, illumination, and verification.

Incubation

A process in creativity and problem-solving where an individual refrains from consciously thinking about a problem, allowing for subconscious processing.