BUSI 520-MMGP Week 3 Marketing Analysis.docx

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Running head: MMGP WEEK 3: APPLE IPOD 1 MMGP Week 3: Apple IPod Allison M. Anderson Liberty University
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MMGP WEEK 3: APPLE IPOD 2 MMGP Week 3: Apple IPod It is very clear in today’s society in the United States that a product such as the Apple iPod is a luxury good. It is desired by many, but most see it as an item that can be purchased only at the most special of occasions. Considering the market that the iPod rests in, it is helpful to know a bit of background on the social and cultural factors that influence consumers’ purchasing trends, as this type of good is not a standard item among all groups. Marketing strategy must be heavily influenced by social and cultural considerations. Social Factors for Consumer Purchasing Humans have a natural tendency to need frequent and reliable social contact, thus resulting in social group preferences and aligned values, morals, wants, and potentially consumer choices. Within this social construct, individuals are influenced through seeing others’ decisions. Purchasing choices are not exempt from this system. Influence of Reference Groups While it is expected that an individual’s closest friends, family, and coworkers will have influence on him or her in a variety of ways, it is often not considered that purchasing choices would be one of those influenced items. Reference group power is in fact a large influence mainly due to the standard connection between group members. Often those from the same family or friends group have a similar income and lifestyle. Similarly, those working at the same
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