Why do consumers often rely on friend's advice when shopping for experience goods?
A)They know their friend's tastes
B)Friends are less likely to be biased reporters
C)There are no search costs in seeking friend's advice
D)Friends are always more accurate than unknown verifiers
E)All friends share the common goal of highest quality

Question

Quizplus · Accepted Answer

Friends are more likely to have similar tastes and preferences, so their advice is more likely to be helpful.

Why Do Consumers Often Rely on Friend's Advice When Shopping