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Why Should Marketers Be Aware of Consumers' Cognitive Consistency and Cognitive

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Essay

Why should marketers be aware of consumers' cognitive consistency and cognitive dissonance? How can dissonance be reduced? Use the post-purchase behaviour of a customer as an example.


Definitions:

US$

The United States Dollar, the official currency of the United States, represented as USD.

Euro

The official currency of 19 of the 27 European Union countries, which together make up the Eurozone.

Buying Power

The capacity of an individual or company to purchase goods and services, often related to the amount of money available.

CPI

A metric known as the Consumer Price Index evaluates the overall weighted pricing of a range of consumer items and services, covering areas such as healthcare, food, and transportation.

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