Question

Jane's aunt wants a cashmere blanket to put over her legs when she watches television from her favorite chair. Jane could drive 50 miles and pay $90 for the blanket, or she could order one off the internet for $168. Because Jane works 50 hours a week, cares for three children, and tries to help her aunt, she opts to buy the blanket on the internet. This is an example of how ________ influences the consumer decision-making process.

Answer 1

Answer:

Time

Explanation:

There is a trade off between time spent in travelling and engaging into some other activity.

In Economics, Opportunity cost refers to the next best alternative. It represents the foregone benefits of an activity sacrificed in return for another activity.

In the given case, Jane is willing to pay extra online than travel all the way and get the blanket at a much cheaper rate. By doing so, Jane has saved time as well as energy which would've been spent in 50 miles drive.

Consumer decision making process involves the whole process between a consumer identifying his need and ultimately making the purchase.

The given case corresponds to the influence of available time or the time constraint which affects consumer decision making process.