Question

With respect to the consumer buying process, __________ is perhaps the most important factor that affects the time, effort, and expense dedicated to the search for information.

Answer 1

Answer:

The Degree of Risk

Explanation:

With respect to the consumer buying process, the degree of risk is perhaps the most important factor that affects the time, effort, and expense dedicated to the search for information. When the higher risk is involved, we spend a lot of time in searching for information either from our external sources or internal sources. When the risk factor is less, then we do not spend much time and effort on searching for information. For example, when we are buying a packet of chips, we do not search information by spending much time and effort. But when we have to buy a car or a laptop, then we spend much time in searching for the information from all of the available sources because bad or wrong decision can cost us more in the case of buying a car or a laptop as compared to the buying of a packet of chips.