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Jaylah Riggins
on Nov 25, 2024

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"Impulse buying" is often the result of a

A) rational optimizing decision in response to incentives and prices.
B) precise estimation of one's marginal utilities and price comparisons.
C) systematic nonrational behavior that marketers can take advantage of.
D) random error in a consumer's behavior that is not predictable.

Impulse Buying

Impulse buying is the act of purchasing goods or services without premeditation or planning, often triggered by emotions or situational factors.

Nonrational Behavior

This term describes actions or decisions that do not follow rational judgement or logical reasoning.

Marketers

Professionals involved in the process of promoting, selling, and distributing a product or service to consumers.

  • Perceive the elucidation by behavioral economics on the impact that cognitive biases and heuristics have on decision making.
  • Acknowledge the importance of impulse purchases and consistent irrational actions in the choices consumers make.
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BC
Britni CrawfordNov 28, 2024
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