Question

In term of consumer behaviour culture social class and reference group influence have been related to purchase and ___

Answer 1

Reference groups communicate through opinion leaders, who influence what others do, act, and buy. In the consumer world, this means that if a reference group purchases a product, those that associate with the group likely will as well.

Answer 2

Consumption decisions

• "In term of consumer behaviour culture social class and reference group influence have been related to purchase and consumption decisions."

• A consumer decision is considered short run when his/her consumption will occur soon enough to be constrained by existing household assets, personal commitments, and know-how.

• Given sufficient time to remove these constraints, the consumer can change his/her consumption patterns and make additional improvements in the utility of consumption.

• Long-run decisions are the decisions affecting consumption far enough into the future so that any such adjustments can be made.

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