According to sheryl connelly, ford's global consumer trends manager, millennial buyers are less interested in cars as a status symbol than previous generations. this best relates to which of the following influences on consumer buying behavior? a. situational b. psychological c. technological d. cultural e. social

The correct option is C (technological)

Sheryl, she's an abundance of learning about self-driving vehicles, to moving gender role jobs, to how and why organizations need to deal with building trust with purchasers.  

Her activity includes assuming the job of contrarian. At Ford she invests energy getting some information about their very own suppositions around their work. What's more, this is the job of the futurist, to present potential outcomes and different situations around the future and what could be. Innovation has accelerated the rate of progress and this is the reason the job of the futurist could easily compare to ever.

The change in consumer buying behavior in the case of cars is due to the social factor.

Further Explanation:

Factors affecting consumer behavior:

Consumer behavior refers to the approach of the consumer or customer towards an offered product. Consumer behavior can be explained as a set of actions that affect the buying behavior of the buyer. Price, quality, personal preferences, income, age, demography affect behavior product selection for the consumer.  There are majorly three factors that affect consumer behavior:

• Cultural factor

• Social factor

• Personal factor

Factor affecting the cars as the status symbol:

The status symbol is mutually accepted parameters by society. The social status symbol signifies the status in society. The definition of the status symbol changes with the change in the trends in society changes. In the 80s and 90s, the car used is the status symbol because it was not assessable by most people. Currently, it is easily assessable to people. Therefore, it is no more a status symbol as the society has changed its parameter of status symbol.

Thus, the change in consumer buying behavior in the case of cars is due to the social factor.

Learn More:

1. Learn more about the behavioral concepts

2. Learn more about the  motivational effect of money

3. Learn more about the price control

Answer Details:

Grade: Senior School

Subject: Economics

Chapter: Consumer Behavior

Keywords: according, Sheryl, Connelly, ford's, global, consumer, trends, manager, millennial, buyers, interested, cars, status, symbol, previous generations, cultural factor, social factor, personal factor

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