Question

Please discuss, give full answer. "considering the Theory of Consumer Choice, which needs to you fulfill first when making buying decisions." Thank you.

Answer 1

Achieving to theory of consumer choice, it is important that the consumer might have certain preferences in opting for a product though the price levels of the available products are similar and these include various factors as the brand value, the perceived quality of the product, the valuation of one specification over other etc. So inorder to maintain more and more level of sales, it is actually important for the firm to understand what is it actually required to fulfill the preferences of the customer and then act accordingly.