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Consumers become more likely to seek the opinions of others under which condition?
AAs the price of the product they want falls steadily
BAs the perceived risk of the decision they face rises
CAs the number of stores selling the product increases
DAs the advertising for the product becomes more common
Answer & Solution
Correct answer: B. As the perceived risk of the decision they face rises
1. Consumers seek the opinions of others to cut their own search effort and uncertainty.
2. That tendency grows stronger as the perceived risk of the decision increases.
3. Buyers also seek opinions for new products and for products with image-related attributes.
4. A falling price, more stores and more advertising do not by themselves raise perceived risk.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 11 "Creating Products and Pricing Strategies to Meet Customers' Needs", section 11.4 Buyer Behavior_
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