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Test Bank for Chapter 1: Buying, Having, and Being 8th Canadian Edition by Solomon
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Test Bank for Chapter 1: Buying, Having, and Being 8th Canadian Edition by Solomon
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Test Bank for Chapter 1: Buying,Having, and Being 8th Canadian Edition
by Solomon
Demographics - ANSage, gender, income, or occupation
consumption communities - ANSwhere members share opinions and recommendations about
anything from Barbie dolls to baseball fantasy league team line-ups to iPhone apps.
market segmentation strategies - ANSmeans 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 - ANSthe 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 - ANSa transaction in which two or more organizations or people give and receive
something of value, is an integral part of marketing
consumer - ANS-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 - ANScompanies define market segments when they identify their most faithful
customers
80/20 rule - ANS20 percent of users account for 80 percent of sales
age - ANSConsumers 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 - ANSWe start to make gender distinctions at an early age even diapers come in pink
versions for girls and blue for boys
family structure - ANS-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.
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