Why Do Consumers Often Rely on Friend's Advice When Shopping

question 8

Multiple Choice

Why do consumers often rely on friend's advice when shopping for experience goods?

• A)They know their friend's tastes
• B)Friends are less likely to be biased reporters
• C)There are no search costs in seeking friend's advice
• D)Friends are always more accurate than unknown verifiers
• E)All friends share the common goal of highest quality

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Definitions:

Competitive Negotiation

A negotiation strategy where parties compete to achieve the best possible outcome for themselves, often at the expense of others' interests.

Alternatives

other options or choices available besides the one currently considered.

Prioritizing Issues

The act of arranging or dealing with problems, tasks, or interests in order of importance or urgency.

Less Important

Items or factors considered to have lower priority or significance in comparison to others in a given context.