Solomon Ch - 1 Revised

Solomon Ch - 1 Revised - Chapter 1 Consumers Rule By...

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1 - 1 Chapter 1 Consumers Rule By Michael R. Solomon Consumer Behavior Buying, Having, and Being Sixth Edition
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1 - 2 What is Consumer Behavior? 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 Behavior is a Process: Exchange: A transaction in which two or more organizations give and receive something of value
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1 - 3 Consumer Behavior Involves Many Different Actors Consumer: A person who identifies a need or desire, makes a purchase, and then disposes of the product
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1 - 4 Consumers’ Impact on Marketing Strategy Market Segmentation: Identifies groups of consumers who are similar to one another in one or more ways and then devises marketing strategies that appeal to one or more groups Demographics: Statistics that measure observable aspects of a population Ex.: Age, Gender, Family Structure, Social Class and Income, Race and Ethnicity, Lifestyle, and Geography
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1 - 5 A Lesson Learned Nike was forced to pull this advertisement for a running shoe after disabilities rights groups claimed the ads were offensive.
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1 - 6 Market Segmentation Finely-tuned marketing segmentation strategies allow marketers to reach only those consumers likely to be interested in buying their products.
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Solomon Ch - 1 Revised - Chapter 1 Consumers Rule By...

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