Which of the following is true of the influence of economic development on consumer preferences?
A)The level of economic development does not impact consumer preferences as much as cultural difference does.
B)Firms based in highly developed countries do not build extra performance attributes into their products.
C)Consumers in less developed nations demand to have extra attributes built into products.
D)Consumers in developed countries are often willing to sacrifice their preferred attributes for lower prices.
E)Consumers in developed nations are willing to pay more for products that have additional features customized to their tastes.

Question

Quizplus · Accepted Answer

Contrary to Theodore Levitt's suggestions, consumers in the most developed countries are often not willing to sacrifice their preferred attributes for lower prices. Consumers in the most advanced countries often shun globally standardized products that have been developed with the lowest common denominator in mind. They are willing to pay more for products that have additional features and attributes customized to their tastes and preferences.

Which of the Following Is True of the Influence of Economic