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FmResM 340 exam 1 study guide

FmResM 340 exam 1 study guide - FmResM 340 Study Guide for...

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FmResM 340, Study Guide for Mid-Quarter Examination, Autumn Quarter 2007 Definitions: 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 consumer socialization – process by which young people acquire skills, knowledge, and attitudes relevant to their functioning in the marketplace demography - application of demographic information and methods in business and public administration. (2) pl. . the demographic information utilized in (1). Psychographics - identifying consumer attitudes and the personality traits and lifestyles that characterize particular groups human resource management demography – use of demographic information to increase awareness of the special qualities and needs that exist among present and potential employers investment demography – use of demographic information to pinpoint areas for potential market growth marketing demography – use of demographic information to help a company properly segment and target the market for products mass marketing – marketing to the population as a whole target marketing – marketing technique characterized by efforts to appeal to differences in consumer tastes and behavior market segmentation – process of portioning markets into segments of potential consumers with similar characteristics who are likely to exhibit similar purchase behavior database marketing – tracking specific consumer’s buying habits very closely and crafting products and messages tailored precisely to people’s wants and needs based in this information family household – a household that contains at least 2 people that are related POSSLQ – persons opposite sex sharing living quarters FLC models – standard flc models use demographic information to describe changes or differences in priorities and demand for product categories
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