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Question : Case Study 16:

JKL Enterprises is a retail company that is facing challenges due to changes in consumer preferences and lifestyle trends.

Q:- What does the term "consumer preferences" refer to?
 

 

 

Option 1: The process of reducing government intervention in the economy

Option 2: The process of nationalizing private companies

Option 3: The process of promoting import restrictions

 

Option 4: The choices and tastes of consumers regarding products and services


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 10th Jan, 2024

Correct Answer: The choices and tastes of consumers regarding products and services


Solution : The correct answer is (D) The choices and tastes of consumers regarding products and services

The term "consumer preferences" refers to the choices and tastes of consumers regarding products and services. It reflects the specific attributes, features, brands, and qualities that individuals or groups of consumers favor when making purchasing decisions. Consumer preferences can vary widely based on factors such as personal preferences, cultural influences, lifestyle choices, and evolving market trends.

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