theory suggests that consumers rely on opinions or testimonials from people they consider similar to themselves, rather than on objective product information.
A)Equity
B)Reference group
C)Maslow's
D)Brand loyalty

Question

Quizplus · Accepted Answer

The theory described in the statement is referring to the concept of reference group influence, which suggests that consumers look to others who they perceive as similar to themselves for guidance in making purchasing decisions.

Theory Suggests That Consumers Rely on Opinions or Testimonials from People