Although Group Influence Plays an Important Role in Influencing Consumer

question 54

Essay

Although group influence plays an important role in influencing consumer behaviour, not all consumers conform to group expectations equally. Describe two individual difference variables that play an important role in the extent to which consumers conform to expectations of others or how one behaves in the presence of others.

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Definitions:

Output

The total amount of goods or services produced by an individual, company, or country.

Total Variable Cost

The sum of all costs that vary with output level in the production process.

Marginal Cost

The augmentation in cost due to the manufacture of one additional unit of a product or service.

Total Variable Cost

The sum of all costs that vary with the level of output, including materials and labor directly involved in production.