Buyer Behavior

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Consumer behavior is...

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the study of individuals, groups, or organizations and the processesthey use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

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Marketing strategy is...

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using the 4 P's to market to a specific consumer

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The 4 P's

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Price
Product
Promotion
Place

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Regulatory Policy

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The understanding of how consumers use products

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Social Marketing

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Applying marketing strategies and tactics to alter or create behaviors that are positive on the targeted individuals

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For example, the first step is

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Market Analysis

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What is a Market Analysis?

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Analyzing competitors, conditions, consumers, and companies

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Then you study...

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Market Segmentation

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Market Segmentation -

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Create group sets to match the product you want to market, and identify attractive groups to market to

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Then you form a

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Marketing Strategy

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How has the Internet aided WOM?

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The Internet allows for easy WOM in the form of email,
blogs, etc., that can create buzz.

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What is a Group?

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two or more individuals who share
a set of norms, values, or beliefs and have certain
implicitly or explicitly defined relationships to one another
such that their behaviors are interdependent.

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What is the basis of a reference group?

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presumed
perspectives or values are being used by an individual as
the basis for his/her current behavior.

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What are characteristics of a group you don't want to associate with?

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Negative desirability
Influences behavior by defining products to avoid (e.g. teens and clothes associated with older people)

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What kind of group should you aspire to have?

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Group that one wants to become member of
Positive desirability
Emulate the behaviors of members of the group

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Consumption Subcultures are:

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Distinctive subgroup of society
that self-selects on shared commitment to a product
class, brand or consumption activity

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How can they be identified?

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Set of shared beliefs and values
Identifiable hierarchy
Unique jargon and rituals

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Brand communities...

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add value to the ownership of the product and build intense
loyalty.

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What are principles for marketing on social networking sites?

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Be transparent
Take advantage of each venue
Adapt to fit nature of each site
Be a part of the community

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Three types of Reference Groups influences

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Informational Influence
Normative Influence
Identification influence

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What is informational influence?

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it's simply influence by gathering information.

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Normative Influence?

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It involves being "sanctioned" for not following the norms

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Identification Influence?

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Helps to determine the way we are "indentified", by fitting into groups

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What is an opinion leader?

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the “go to person” for specific
types of information. This person filters, interprets, and
passes along information.

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Why are they useful?

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Opinion leaders possess enduring involvement for specific product categories. This leads to greater knowledge and expertise.

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In what situations will one use the information from an opinion leader?

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If an individual is seeking information
OR
If an individual volunteers information

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What is a market maven?

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A person who is a general leader in a market and provides a significant amount of information on where to shop etc.

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Who identified the group similar to the market mavens?

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Roper Starch

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Internet market mavens are called

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e-influencers.

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Strategies including WOM include

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1. Advertising
2. Product Sampling
3. Retailing/Personal Selling
4. Creating Buzz

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What is an innovation?

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is an idea, practice, or product perceived to be new by the relevant individual or group.

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What is continuous innovation?

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Innovation that requires little to no change at all to behavior of the consumer.

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What is Dynamically continuous innovation?

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Innovation that requires a moderate amount of change.

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Discontinous innovation?

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Innovation that requires a substantial amount of change to current consumer behavior.

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What are the types of innovation adopters?

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Innovators
Early Adopters
Early Majority
Late Majority
Laggards

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What are innovators?

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The first to usually adapt and accept change

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What are Laggards?

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The ones who are last to adopt.

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Types of Households:

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Household
Family Household
Nonfamily Household

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What is a regular household?

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all the people who occupy a housing unit.

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What is a family household?

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at least two members related by birth, marriage, or adoption, one of whom is the householder

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What is a nonfamily household?

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at least two members related by birth, marriage, or adoption, one of whom is the householder.

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What is a blended family?

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A family that consists of a couple who has already been divorced and has children with current spouse and previous spouse

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What is a traditional family?

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A family that as children mutually exclusive to their partner.

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What are the different types of household lifecycles currently in existence?

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Younger < 35
Middle-Aged (35-64)
Older (64 >)

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What types of cycles are in Younger <35?

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Single I
Young Couples: No Children
Full Nest I
Single Parent I

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What types of cycles are in Middle Aged?

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Middle-Aged Single
Empty Nest I
Delayed Full Nest I
Full Nest II
Single Parent II

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What types of cycles are in Older > 64?

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Empty Nest II
Older Single

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What is Family Decision making?

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the process by which decisions
that directly or indirectly involve two or more family members are made.

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How families interact in purchasing depends on:

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culture/subculture
the role of specialization of different members
the degree of involvement
the personal characteristics of the family members

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What are the six ways that consumers resolve purchase conflicts?

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Bargaining
Impressions Management
Use of Authority
Reasoning
Playing on Emotion
Additional Information(gathering)

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What is consumer socialization?

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The process by which young people aquire the skills necessary to enter the "consumer arena".

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Consumer socialiaztion content is...

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What children learn in respects to consumption

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Consumer socialization process is...

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How children learn in respect to consumption.

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What are consumer skills?

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The skills necessary in order for purchases to occur.

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What are consumption-related preferences?

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The knowledge, attitudes, and values that attach differential opinions to brands, etc.

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What are consumption related attitudes?

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Attitudes and values directly related to how we process market stimuli(ads, etc)

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What are the ways in which a parent socializes their children?

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Instrumental training(repeated training)
Modeling(learning behaviors)
Mediation(intentional altering)

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What is a subculture?

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a segment of a larger culture whose members share distinguishing values and patterns of behavior.

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What is an ethnic subculture?

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are those subcultures whose members’
unique shared behaviors are based on a common racial, language, or nationality background.

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What does it mean to be a secular society?

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To be free of religion in government.

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Christian Subcultures:

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Born Again Christian
Roman Catholic
Protestant

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Non-Christian Subcultures:

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Jewish
Muslim
Buddhist

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Why do regional subcultures arise?

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- climate conditions
- natural environment and resources
- characteristics of the various immigrant groups that
have settled in each region
- signification social and political events.

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What are examples of demographics?

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Population and SizePopulation Size
OccupationOccupation
EducationEducation
IncomeIncome
Age

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What is a generation or age cohort?

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a group of persons who have experienced a common social, political, historical, and economic environment.

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What is a Cohort Analysis?

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the process of describing and explaining the attitudes, values and behaviors of an age group as well as predicting its future attitudes, values, and behaviors.

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What groups are a part of the "mature market"?

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Pre-Depression
Depression
Baby Boomers

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What groups are part of the "non mature market"?

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Generations X & Y
Tweens

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Targeting the "mature market":

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Healthy indulgers(still healthy)
Ailing Outgoers(social, like to get together)
Health Hermits(complain about health)
Frail Recluses(sickly, stay at home)

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What are some characteristics of Baby Boomers?

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Higher income
Re-defining retirement
More tech-savvy
Strong market for anti-aging products
Alienated by strong "youth-appeal"

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What are some characteristics of Generation X?

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They are more highly educated than before
Women are more educated than men
They're getting married and having kids
They require special attention to media

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What are some characteristics of Generation Y?

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They have two subcultures(teens and young adults)
Expected to have the highest education
Very tech savvy with media options
Strong markets for automobiles

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What is Social Rank?

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one’s position relative to others on one or more dimensions valued by society, also referred to as social classand social standing.

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What are status dimensions?

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LImits on one's lifestyle due to boundries, such as parental status, education, occupation and income, set limits on one’s lifestyle, including one’s residence.

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What are some measures of the single-item index?

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Education
Occupation
Income

This is generally less developed and are seen as simply determinants of status rather than influences

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What are cultural beliefs?

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widely held beliefs that affirm what is desirable.

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What are value shifts?

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Shifts in cultural value.

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What are self-oriented values?

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society’s view of the appropriate
relationships between individuals and groups within that society.

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What are types of self oriented values?

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Religious/Secular
Sensual Gratification/Abstinence
Postponed/Immediate Gratification
Hard work/Leisure
Material/Nonmaterial
Active/Passive

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What are environment oriented values?

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a
society’s relationship to its economic and technical as well as its physical environment.

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What are types of environment oriented values?

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Cleanliness
Tradition/Change
Risk Taking/Security
Problem Solving/Fatalistic
Admire/Overcome Nature
Performance/Status

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What are types of marketing strategies?

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Green Marketing
Cause-Related Marketing
Marketing to Gay and Lesbian Consumers
Gender-Based Marketing

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What is green marketing?

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Marketing based on the environment around you. This includes creating a product that is enviro-friendly, marketing for an enviro organization, or developing products that have a positive impact on the environment.

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What is cause related marketing?

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Marketing for a specific cause, or marketing a product as to support a specific cause.

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Why is marketing to GLBT so important and attractive?

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The GLBT makes up for about 7% of the US population, but they account for over $700 Billion in purchasing power.

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What are the different types of Gender-based marketing?

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Traditional Housewife
Trapped Housewife
Trapped working woman
Career working woman

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How has gender based marketing changed?

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Men are shopping more for household items, where as women are shopping more for "masculine" items like power tools.

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What are the four major types of world citizens?

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Global citizens
Global Dreamers
Antiglobals
Global Agnostics

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What is culture?

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the
complex whole that
includes knowledge,
belief, art, law,
morals, customs,
and any other
capabilities and
habits acquired by
humans as members
of society.

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What are norms?

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The values that a society idealizes.

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What are sanctions?

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Punishments for violating norms.

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What are the different types of values?

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Other Oriented values
Enivornment Oriented Values
Self-Oriented Values

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What are types of Other oriented values?

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What are types of Enviro-oriented Values?

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What are types of Self-oriented values?

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Why is it important to consider the country you're marketing to before you actually market to them?

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What is appropriate in one country may not be appropriate in another.

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What are demographics?

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Demographics describe a population in terms of its size,
structure, and distribution.

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What is a market segment?

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A portion of the market who's needs/want differ from the market as a whole.

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What are major influences on consumer behavior?

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• Culture
• Demographics and social stratification
• Ethnic, religious, and regional subcultures
• Families and households
• Groups