Consumer Product Classifications Differ in Terms of The: (1) Effort

question 102

Multiple Choice

Consumer product classifications differ in terms of the: (1) effort the consumer spends on the decision, (2) frequency of purchase, and (3) ___________.

• A)amount of money the customer is willing and able to spend
• B)number of competing or substitute products
• C)demographics of the consumer
• D)attributes used in making the purchase decision
• E)consumer segmentation characteristics

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Definitions:

Limited Liability Company

A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Discretionary Income

The amount of an individual's income left for spending, investing, or saving after taxes and basic necessities have been paid.

Free Market

An economic system in which prices are determined by unrestricted competition between privately owned businesses.

Life Expectancy

The average period that an individual is expected to live, based on statistical averages of age, gender, and other demographic factors.