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Chapter 1: Buying, Having, and Being | Comprehensive Questions and Answers Latest Updated, Exams of Economics

Demographics - age, gender, income, or occupation consumption communities - where members share opinions and recommendations about anything from Barbie dolls to baseball fantasy league team line-ups to iPhone apps. market segmentation strategies - means an organization targets its product, service, or idea only to specific groups of consumers rather than to everybody even if it means that other consumers who don't belong to this target market aren't attracted to it. consumer behavior - the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires exchange - a transaction in which two or more organizations or people give and receive something of value, is an integral part of marketing consumer - -a person who identifies a need or desire, makes a pur

Typology: Exams

2024/2025

Available from 06/20/2025

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Chapter 1: Buying, Having, and Being | Comprehensive Questions and Answers Latest Updated 2025/2026 With 100% Verified SolutionsDemographics - age, gender, income, or occupationconsumption communities - where members share opinions and recommendations about anything from Barbie dolls to baseball fantasy league team line-ups to iPhone apps.market segmentation strategies - means an organization targets its product, service, or idea only to specific groups of consumers rather than to everybody even if it means that other consumers who don't belong to this target market aren't attracted to it.consumer behavior - the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desiresexchange - a transaction in which two or more organizations or people give and receive something of value, is an integral part of marketingconsumer - -a person who identifies a need or desire, makes a purchase, and then disposes of the product during the three stages of the consumption process.-may take the form of organizations or groupsheavy users - companies define market segments when they identify their most faithful customers80/20 rule - 20 percent of users account for 80 percent of salesage - Consumers of different age groups obviously have different needs and wants. Although people who belong to the same age group differ in many other ways, they do tend to share a set of values and common cultural experiences that they carry throughout life.gender - We start to make gender distinctions at an early age even diapers come in pink versions for girls and blue for boys
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Chapter 1: Buying, Having, and Being | Comprehensive Questions and Answers Latest Updated 2025/2026 With 100% Verified Solutions Demographics - age, gender, income, or occupation consumption communities - where members share opinions and recommendations about anything from Barbie dolls to baseball fantasy league team line-ups to iPhone apps. market segmentation strategies - means an organization targets its product, service, or idea only to specific groups of consumers rather than to everybody even if it means that other consumers who don't belong to this target market aren't attracted to it. consumer behavior - the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires exchange - a transaction in which two or more organizations or people give and receive something of value, is an integral part of marketing consumer - -a person who identifies a need or desire, makes a purchase, and then disposes of the product during the three stages of the consumption process. -may take the form of organizations or groups heavy users - companies define market segments when they identify their most faithful customers 80/20 rule - 20 percent of users account for 80 percent of sales age - Consumers of different age groups obviously have different needs and wants. Although people who belong to the same age group differ in many other ways, they do tend to share a set of values and common cultural experiences that they carry throughout life. gender - We start to make gender distinctions at an early age even diapers come in pink versions for girls and blue for boys

family structure - -A person's family and marital status is yet another important demographic variable because this has a huge effect on consumers' spending priorities -Older couples and bachelors are most likely to use home maintenance services. social class and income - People who belong to the same social class are approximately equal in terms of income and social standing in the community. race and ethnicity - -African Americans, Hispanic Americans, and Asian Americans are the three fastest- growing ethnic groups in the United States. -As our society becomes increasingly multicultural, new opportunities develop to deliver specialized products to racial and ethnic groups and to introduce other groups to these offerings. geography - Many national marketers tailor their offerings to appeal to consumers who live in different parts of the country lifestyles - -Consumers also have different lifestyles, even if they share other demographic characteristics such as gender or age. -The way we feel about ourselves, the things we value, the things we like to do in our spare time all of these factors help to determine which products will push our buttons or even those that make us feelbetter. relationship marketing - interact with customers on a regular basis and give them solid reasons to maintain a bond with the company over time database marketing - tracks specific consumers' buying habits closely and crafts products and messages tailored precisely to people's wants and needs based on this information big data - the collection and analysis of extremely large datasets popular culture - the music, movies, sports, books, celebrities, and other forms of entertainment that the mass market produces and consumes is both a product of and an inspiration for marketers. role theory - -takes the view that much of consumer behavior resembles actions in a play.

interpretivism - argue that our society emphasizes science and technology too much, and they feel that this ordered, rational view of behavior denies or ignores the complex social and cultural world in which we really live pastiche - rejects the value we assign to products because they help us to create order; instead, it focuses on regarding consumption as offering a set of diverse experiences Consumer Culture Theory (CCT) - -refers generally to research that regards consumption from a social and cultural point of view rather than more narrowly as an economic exchange -embrace a variety of topics that range from how the media shapes our conceptions of our bodies or how underprivileged people cope with poverty