There Are Five Stages in the Consumer Purchase Decision Process

question 227

Multiple Choice

There are five stages in the consumer purchase decision process. The fourth stage is

• A)information search.
• B)purchase decision.
• C)alternative evaluation.
• D)option testing.
• E)problem recognition.

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Definitions:

Equity

Refers to the ownership interest in a corporation in the form of common or preferred stock; it represents the owners' share in the company's assets.

Fairness

A subjective concept referring to equal and impartial treatment, decisions, and actions in context with ethical, societal, or personal standards and norms.

Normative Economics

An approach to economics that makes judgments about what the economy should be like or what particular policy actions should be recommended.

Behavior

The actions or reactions of an individual, group, or system in response to external or internal stimuli.