Concept information
Preferred term
consumer preferences
Definition
- Consumer preferences represent the building block for assessing the value of any good or service relative to another. Once determined, a consumer may or may not wish to reveal a willingness to pay for an item given the asking price. [Source: Encyclopedia of Business Ethics and Society; Consumer Preferences]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/consumer_preferences
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