Among the factors affecting the consumer decision-making process is the way consumers spend their time and money to live, otherwise known as
A)lifestyle.
B)conspicuous consumption.
C)demographics.
D)external validation.
E)self-actualization.

Question

Quizplus · Accepted Answer

Lifestyle refers to the way consumers spend their time and money to live, including their values, attitudes, and behaviors. This can have a significant impact on the products and services they choose to purchase. Conspicuous consumption refers to the purchase of luxury goods and services to display social status, which is a subset of lifestyle. Demographics refer to the characteristics of a specific group of consumers, such as age, gender, income, and education. External validation refers to seeking approval or recognition from others, which can also influence consumer behavior. Self-actualization is the pursuit of personal growth and fulfillment, which can be a motivation for certain purchases but is not a factor affecting the overall decision-making process.

Among the Factors Affecting the Consumer Decision-Making Process Is the Way