What Are the Two Basic Approaches to Fluctuating Demand

question 30

Essay

What are the two basic approaches to fluctuating demand?

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Definitions:

Alternative Evaluation

The stage in the consumer decision process where options are assessed before making a purchase decision.

Information Search

The process by which individuals seek out and gather relevant information to satisfy a particular need or decision.

Routine Response Behavior

Refers to consumer purchasing decisions made out of habit without much deliberation or product comparison.

Prepurchase Behavior

The actions and processes consumers go through before making the final decision to purchase a product or service.