Answer:
What is the difference between an internal influence and an external influence as described by the Consumer Value Framework (CVF)?
- Consumer value framework represents consumer behaviour theory illustrating factors that shape consumption-related behaviours and ultimately determine the value associated with consumption.Internal and external influence are both two important factors in the consumer value framework. Internal influence represents things that processed inside the mind of the consumer or can be thought as a part of the consumer. It consists of consumer psychology: learning, implicit memory, intuition, information processing, perception, information processing, categorization, attitudes; and personality of consumer: motivation, personal values, personality, lifestyle, emotional expressiveness, and emotional intelligence.The internal influence appears in the need recognition of the consumption making decision process. The personality and psychology of consumer determine the needs and wants, even preference of the consumption. For instance, consumers want to buy new cars, first of all, the need appears, and then they have to choose a brand or what kinds of cars they are looking for. Some consumers like the sports car, otherwise, some consumers are more into SUV and so on. These consumption decisions are depend on the consumers’ personality and psychology. Each of them has the different perspective.External influence include the social and cultural aspects of life as a consumer. Social environment are elements that specifically deal with the way other peopleinfluence consumer decision making and value. Such as social class, family influence,culture and cultural values, acculturation/ enculturation and reference groups and peerinfluence. Situational influence are things unique to a time or place that can affectconsumer decision making and the value received from consumption. For example,atmospherics, time/timing, conditions.The external influences directly impact the value of activities. It appears in theinformation searching stage of the consumption decision making process. For example,when a consumer want to buy a new car, and he is struggling with the brand betweenToyota and Land Rover, the social groups like friends, families who has bought those cars,they can directly influence the consumer’s consumption decision and feelings aboutthose brands. Relationship quality—consumer loyalty
Answer:
C
Explanation:
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Perfect competition is the simplest market structure, where the market is assumed to be in equilibrium and that all sellers sell the same product at the same price. The four conditions for perfect competition are:
1. There are many buyers and sellers in the market so that no one individual or seller can influence the price of the products, goods, and services.
2. Identical products are offered by the sellers
3. Both the buyers and the sellers are well-informed about the products and want to maximize profit.
4. Entry and exit to and from the market can be done freely by the sellers and buyers.
There is no market which displays 100% perfect competition. However, markets exhibiting nearly perfect competition do exist. These include street food vending and agricultural markets.
The assistant chief of police has decided to forego using the polygraph test on a suspect and will use a different technique to assess the suspect's physiological responses to crime-scene details. This is known as the guilty knowledge test.
<u>Explanation:</u>
The Guilty Knowledge Tests (GKT's) refers a psycho-physiological survey method that could be used in a polygraph test to find whether suspects are hiding "guilt" by measuring their physiological answers to multiple choice questions.
50 participants were randomly selected to commit one of two real false crimes. Later they were tried with GKT for crimes and things they did not know about. Using the best scoring systems, as per logistic regression analysis, this test correctly classifies 84% innocent and to 76% criminals.
The appropriate response is literary summary. It is analyzing the distinctive components of a bit of writing to enable you to better acknowledge and comprehend its work in general. This procedure expects you to utilize the honed, centered articulation of thought and concentrate into the literary work, particularly a limited area of it.
