When Making an Important Purchase,consumers Often Consult Friends and Family

question 1

True/False

When making an important purchase,consumers often consult friends and family.This is considered an external search for information.

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Definitions:

Formalization

The process of establishing official procedures and rules within an organization.

Specialization

The process of focusing on a narrow area of expertise, enhancing efficiency and proficiency in performing specific tasks or roles.

Hierarchy

A system or organization in which people or groups are ranked one above the other according to status or authority.

Centralization

The concentration of decision-making authority at the upper levels of an organization.