Consumer Behavior: provide arguments for why one could day that limitless choice is not a good...

Consumer Behavior:

provide arguments for why one could day that limitless choice is not a good thing. provide examples.

Expert Solution

There is theory called "the paradox of choice" which states that having too many options to choose from rather than making consumer happy, makes them more confused and creates stress in decision making.
When they have too many options they will try to analyse each and every option and will be more cautious in choosing.
It brings a fear of losing on to the best or missing out on anything if they choose one.
It also leads to more wastage of time and thinking and causes us to be procrastinate and paralyze.
Due to constant comparison it also leads to dissatisfaction.

For example if I have to purchase a smart phone then I need camera like Apple, Android system like Samsung, battery like Nokia and maybe cost like of Oppo. Now all these qualities are not available in one brand or product. So if I choose one I definitely miss out the best of each product or brand. This leads to dissatisfaction and we tend to spend more then we intend to meet our needs. But the utility derived keeps on falling.

Also If I want to have a chocolate, I want it to be soft like Dairy milk, with nuts like in snickers and waffers like in KitKat, again causing the stress to choose the best in the given budget.

keosha answered 3 months ago

List 2 factors influencing the consumer buying behavior and provide one example for each – (10...

List 2 factors influencing the consumer buying behavior and provide one example for each – (10 pts). Explain the four types of buying behavior and share one example for each – (40 pts). You want to buy a car; hence you experience a process for making up your mind. Explain each of the stages you encounter during your decision making for the best car purchase – (50 pts).

Was it a good choice to sell Ben and Jerry's to Unilever? Why or why not?

Consumer choice theory assumes that consumers behave rationally. Provide an example of a consumer being irrational,...

Consumer choice theory assumes that consumers behave rationally. Provide an example of a consumer being irrational, and explain what property (completeness, transitivity, more is better) is being violated.

Write ONE proposal for behavior change. This could be a behavior change for yourself or someone...

Write ONE proposal for behavior change. This could be a behavior change for yourself or someone else (friend, family member, etc.). The behavior change program should incorporate and specify at least two basic principles of behavior (e.g., reinforcement, punishment, stimulus control, prompting, etc). You may elect to increase/decrease the frequency of an existing behavior, establish a new behavior, or some combination. It will also be important to incorporate examples when designing your behavior change program (I.e., describe the experimental design...

Provide a brief background of the topic and speculate on arguments you could pose or problems you could solve.

topic: Obesity Explain why this topic interests you. Provide a brief background of the topic and speculate on arguments you could pose or problems you could solve. Additionally, draft a potential problem statement. Pose ideas and solicit feedback from your peers on your ideas.In your responses, provide your peers with constructive criticism. Identify topics that might seem too broad or too narrow in focus. Identify possible challenges and offer ideas and solutions for improvement.

Provide an introduction on the topic of consumer behavior. Select a purchase that you recently made...

Provide an introduction on the topic of consumer behavior. Select a purchase that you recently made and reflect on the purchase decision process. Explain in detail how each step in this process affected your purchase decision. Describe how each of the 4Ps (product, price, promotion, and distribution) affected your purchase decision. Technology is a tool that companies use to influence consumers. Discuss the impact of the internet at every step of the purchasing decision process. The letter concludes by explaining...

a.) Provide a real life example of a "nudge" being used to encourage consumer behavior by...

a.) Provide a real life example of a "nudge" being used to encourage consumer behavior by a corporation, government or, organization that has led to improved utility or welfare of those being nudged. b.) Explain how the nudging you cited as an example did or did not meet the other two principles of Thaler's guide for the use of nudge. Note: use some of the concepts —— diminishing marginal utility, utility, price greater than utility received, cost and burden resulting...

Identify the instrumental and terminal values expressed through consumer behavior surrounding the context "valentine's day"

Is public infrastructure a public good? Explain and provide clear logical arguments for your position.

What are the 3 separate domains- perspectives on consumer behavior and why is it important to...

What are the 3 separate domains- perspectives on consumer behavior and why is it important to understand the primary driver of decision making? Be specific, clear and concise.

Question