The Consumer Behavior Framework (CBF)represents Consumer Behavior Theory Illustrating Factors

question 69

True/False

The Consumer Behavior Framework (CBF)represents consumer behavior theory illustrating factors that shape consumption-related behaviors and ultimately determine the value associated with consumption.

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Definitions:

Ownership Utility

The added value or benefit provided to a product or service by ensuring that the consumer has the legal right or ownership to use or dispose of it as they see fit.

Product Availability

The extent to which products are in stock and can be purchased by consumers at any given time.

Exchange Process

The exchange process refers to the series of actions in which two or more parties give something of value to each other, usually in the context of business or trade.

Perceived Needs

The subjective understanding or belief of individuals about what they must have or achieve.