Price loyalty is driven by rational economic behaviour and the main motivations are cautious management of money or financial necessity.

Question

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Price loyalty occurs when consumers repeatedly purchase a product or service because they perceive it offers the best value or price relative to alternatives. This behavior is rooted in rational economic behavior, where the main motivations include cautious management of money or financial necessity, especially in contexts where consumers aim to maximize utility or satisfaction within their budget constraints.

Price Loyalty Is Driven by Rational Economic Behaviour and the Main