Which of the following is an effect of social influences on consumer buying decisions?
a. Consumers base decision making on the values and beliefs of their culture.
b. Consumers rely on personal experience to make a buying decision.
c. Consumers seek out the opinions of others for decision making.
d. Consumers make decisions based on their ideal self-image.
ANSWER: c
Social factors such as reference groups and opinion leaders influence consumers who seek out the opinions of others to reduce their search and evaluation effort or uncertainty, especially as the perceived risk of the decision increases.
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The Hobby Shop Company has outlets in Olympia, WA, Boise, ID, and Boston, MA
The gross book value of long-term assets at historical costs that the Olympia outlet holds is $1,600,000, the Boise outlets holds $2,400,000 and the Boston outlet holds $3,200,000. The construction cost index for all three outlets in 2012 was 190. The construction cost index the year that the Olympia outlet was built was 120, the year that the Boise outlet was built it was 160 and the year that the Boston outlet was built it was 170. Required Compute the gross book assets at current cost at the end of 2012 for the Olympia outlet, the Boise outlet, and the Boston outlet. A) $2,360,363; $1,650,022; $688,520 B) $1,866,352; $2,148,633; $1,225,333 C) $2,533,333; $2,850,000; $3,576,471 D) $1,955,000; $2,225,036; $4,020,333 E) $3,148,523; $3,963,000; $455,630