Online Consumers Are Considered Empowered Consumers Because

question 115

Multiple Choice

Online consumers are considered empowered consumers because

• A) products and services purchased online often cost less than in a retail store.
• B) online shopping does not require that they fight traffic, find a parking space, walk long store aisles, and wait in line at checkout.
• C) they use technology to control their shopping and purchase decision process.
• D) there are websites for almost any product or service they want.
• E) they can engage in an electronic dialogue with marketers.

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Definitions:

Mental Resources

Cognitive capabilities and emotional resilience an individual can draw upon to perform tasks or face challenges.

Decision Making

The method of selecting options through recognizing a decision, collecting data, and evaluating different solutions.

Net Benefits

The total positive effects or gains from a decision or action minus any negative effects or costs associated with it.

Prospect Theory

A behavioral economics theory of preferences having three main features: (1) people evaluate options on the basis of whether they generate gains or losses relative to the status quo; (2) gains are subject to diminishing marginal utility, while losses are subject to diminishing marginal disutility; and (3) people are prone to loss aversion.