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  • Essay / lp Me

    In the article “Opportunity Cost Consideration”, Stephen Spiller aims to address the various issues involved in the consumer decision-making process. Spiller argues that buyers must involve the concept of opportunity cost in their purchasing decisions so that they can fulfill their unlimited wants using limited resources (Spiller 595). In this regard, the article focuses on when buyers should adopt opportunity cost, individuals or parties who accept opportunity cost, the opportunity cost that comes to buyers' minds and the consequences involved in taking opportunity cost into account. The author achieves his goal by conducting several studies. These studies fall into various categories such as the application of multiple mechanisms to assess opportunity cost consideration, self-reported consideration, thought lists, and purchase possibility. Thus, the author's findings play a vital role in highlighting consumers' need to accept opportunity costs in their purchasing decisions. When should buyers adopt opportunity costsSpiller asserts that...