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Evaluate the power and influence of a reference group and give an example in a buying decision

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Evaluate the power and influence of a reference group. Give an example of a reference group where you have asked for help in a buying decision, and give an example when a member of a reference group asked you for help in a buying decision. Support your position.

Discuss the reference group's impact on the buyer's decision, in terms of the power/influence of the reference group.

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Solution Summary

The expert influences reference groups and examples in a buying decision.

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Reference Group

Within consumer behavior, a reference group is one in which an individual generally tends to use as their respective anchor point in the evaluation of their own beliefs and attitudes. The individual may not always be a member of the said group nor even seek to be one; however, as a result of the group's intrinsic values, the individual is greatly influenced and the individual seeks to style their own lives in congruence at a personal level in their opinions, attitudes, values and even behavior patterns. The reference group could therefore be a church group, political party, sorority group, etc, which could ...

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