Explain Reference groups.
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Reference groups are social groups that individuals use as benchmarks to evaluate their own beliefs, behaviors, and attitudes. These groups serve as a standard for comparison, shaping individuals' aspirations, identity, and lifestyle choices. Reference groups can be aspirational (groups one aspires to join), associative (groups one is a part of), or dissociative (groups one wants to avoid). The influence of reference groups is pervasive in consumer behavior, social identity formation, and decision-making processes, highlighting the significant role these groups play in shaping individuals' perceptions and actions.