One Method of Categorizing Consumers Refers to a Large Group

question 124

Multiple Choice

One method of categorizing consumers refers to a large group of older men (called Rugged Traditionalists) who believe in the traditional,old-school gender roles,who prefer hockey to all other types of sports,who would use a straight razor for shaving if they could find one,and prize convenience above all other qualities in a retail store.The Rugged Traditionalist is described in terms of how which of the following influences affect his consumer decision making?

• A)psychological
• B)individual
• C)social
• D)cultural

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Definitions:

Absolute Purchasing Power Parity

A theory that states that exchange rates between currencies are in equilibrium when their purchasing power is the same in each of the two countries.

Trading Barriers

Restrictions or laws that limit the ability to trade goods, services, or financial instruments across borders or within markets.

Absolute Purchasing Power Parity

A theory that asserts that in the absence of market frictions, identical goods in different countries should have identical prices when expressed in a common currency.

Transactions Costs

The expenses associated with buying or selling goods and services, including fees, taxes, and other charges.