In consumer behavior, the conversion rate measures:

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Question restatement: In consumer behavior, the conversion rate measures which option best describes it?

Option 1: The number of repeat buyers in a loyalty program. This reflects customer retention and loyalty metrics, not the overall conversion rate from exposure to action. It focuses on repeat behavior rather than initial action taken by exposed individuals.

Option 2: The speed of product adoption in the market. This is about diffusion or adoption rate over time, a market dynamics concept, not the proportion of exposed individuals who take a desired action.

Option 3: How often consumers change brands. This measures brand switching or loyalty dynamics, which is not the conversion rate from exposure to action.

Option 4: How many people take a desired action (like purchasing) out of the total number exposed. This directly captures the idea of conversion rate as the ratio of actions taken to exposures, often expressed as a percentage and central to evaluating funnel effectiveness.

Option 5: The percentage of consumers who return products. This is a post-purchase behavior metric (returns rate), not the rate at which exposed individuals convert to a desired action.

Putting it together, conversion rate is about the conversion of exposed individuals into those who perform a desired action, rather than about loyalty, adoption speed, brand switching, or returns.

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In consumer behavior, the conversion rate measures:

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