Consumers who adopt the products and services used by the rich and famous can be said to be part of a contractual reference group.

Question

Quizplus · Accepted Answer

A contractual reference group refers to a group that an individual has formally agreed to be part of, such as a club or organization, not merely adopting products or services used by the rich and famous. The correct term for consumers who adopt products and services used by the rich and famous is aspirational reference group.

Consumers Who Adopt the Products and Services Used by the Rich