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Changes in Economy and Consumption

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How have the changes in the economy led to changes in the consumption process? How might these influence the pre-purchase, purchase, and post purchase stages of consumer decision-making?

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Solution Summary

This solution explains how changes in the economy have led to changes in the consumption process. This solution also explains how these changes may influence the pre-purchase, purchase, and post purchase decision-making processes.

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Changes in the economy always lead to changes in the consumption process. In each of the consumer decision-making process, consumers are going to analyze and reconsider their purchases to a greater degree when the economy is lagging. We will see this to an even greater degree with big ticket items. While this still happens with ...

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