Exam (elaborations)

Consumer Behavior Study Questions and Answers High Grade 2023

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Course
Consumer Behavior

Institution
Consumer Behavior

What are the four major uses of applications of an understanding of consumer behavior? - -Marketing Strategy, Regulatory Policy, Social Marketing, Informed Individuals -What is involved in the company analysis phase of market analysis in figure 1-1? - -The firm must understand its ability to mee...

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Consumer Behavior Study Questions and
Answers High Grade 2023
What are the four major uses of applications of an understanding of consumer behavior? - -
Marketing Strategy, Regulatory Policy, Social Marketing, Informed Individuals

-What is involved in the company analysis phase of market analysis in figure 1-1? - -The firm
must understand its ability to meet evolving customer needs better than the competition. This
involves evaluating all aspects of the firm ranging from its financial condition to its general
management skills to its reputation. This will generally involve both internal analyses as well
outside assessments.

-What is involved in the conditions analysis phase of market analysis in figure 1-1? - -A firm
should know its key competitors as well as it knows itself (see #6 above). For particular
initiatives, the firm needs to determine which competitors will be harmed and their capability
and likely means of responding. The firm's strategy should be evaluated in light of these
probable responses.

-What is meant by injurious consumption? - -Consumption that has negative consequences for
the long run well being of the consumer.

-What is meant by consumer lifestyle? - -is expressed in both work and leisure behavior patterns
and (on an individual basis) in activities, attitudes, interests, opinions, values, and allocation of
income.

-What does the statement "Culture sets boundaries on behaviors" mean? - -Normally, the
boundaries of behavior are outlined by the culture, and even some of these boundaries for certain
kinds of behavior are vague. On the other hand, very important behaviors, such as the ways in
which one person may force behavior in others, are very well defined. Consumptive behaviors
also run the gamut from vague (purchase and use of food products for entertaining) to fairly
specific (what clothes one should wear for specific occasions such as weddings or funerals)

-What are demographics? Why are they important to international market? - -Statistical data
relating to the population and particular groups within it. The most important function of
demographics in marketing is obviously to increase sales. By understanding consumers, any
business can increase marketing efforts to target those most likely to buy.

-How do demographics affect a culture's values? How do a culture's values affect its
demographics? - -

-What is green marketing? - -refers to the process of selling products and/or services based on
their environmental benefits.

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Exam (elaborations)

Consumer Behavior Study Questions and Answers High Grade 2023

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