3 ECONOMIC factors affecting CONSUMER PURCHASE BEHAVIOUR - Answer-
consumer income/ purchasing power
inflation
Recession
/.3 strategies to reduce percieved risk - Answer-obtain seals of approval
secure endorsements
free trials/samples
/.3 types of media are: - Answer-newspapers / magazines
digital and mobile
direct response
/.4 Eras (How marketing creates value) - Answer-PRODUCTION-ORIENTED (good will
sell itself),
SALES ORIENTED (answers overproduction by focusing on sales)
MARKET ORIENTED (what customers want)
VALUE BASED (giving greater value than the competition)
/.4 key Consumer markets - Answer-GLOBAL, CONSUMER, BUSINESS,
GOVERNMENT
/.4 major types of advertising - Answer-pioneering
competitive
comparative
advocacy - institutional
/.4 types of consumer products - Answer-convenience, shopping, specialty, unsought
/.Additions to Product Lines - Answer-new products to supplement existing product lines
, /.advertising appeal - Answer-the unique selling proposition
- health
-convenience
-fun/pleasure
-emotion
/.Advocacy - Answer-expressing views on a change
/.AIDA - Answer-Attention, Interest, Desire, Action
/.Andrew is really important to marketers. He has the capacity to influence others in the
choices they make, is respected by others for his knowledge and is seen by others to be
a credible source of information. Andrew is part of WHAT GROUP when it comes to
consumer adoption? - Answer-Early adopters
/.Arnold is never the first to try new products, but he does try them before the average
person. He looks at mass media and those with more knowledge as sources of
information. Arnold is part of what group when it comes to consumer adoption? -
Answer-Early majority
/.Attribute - Answer-a product feature
/.Baby Boom Generation - Answer-massive group of consumers
believe in youth
/.Barry tends to be skeptical when it comes to new products such as driverLESS cars .
He doesnt trust mass media/salespeople. He will ONLY adopt a product when most
people have already purchased it. Barry is part of what group when it comes to
consumer adoption? - Answer-Laggards
/.Behavioural segmentation - Answer-dividing a market into segments based on
consumer knowledge, attitudes, uses, or responses to a product
/.Benefit - Answer-based on needs and wants
people seeking certain benefits
/.BRAND EQUITY - Answer-the value of company and brand names
/.Brand Mark - Answer-the elements of a brand that CANNOT be spoken
/.Brand name - Answer-part of brand that CAN be spoken
consumer income/ purchasing power
inflation
Recession
/.3 strategies to reduce percieved risk - Answer-obtain seals of approval
secure endorsements
free trials/samples
/.3 types of media are: - Answer-newspapers / magazines
digital and mobile
direct response
/.4 Eras (How marketing creates value) - Answer-PRODUCTION-ORIENTED (good will
sell itself),
SALES ORIENTED (answers overproduction by focusing on sales)
MARKET ORIENTED (what customers want)
VALUE BASED (giving greater value than the competition)
/.4 key Consumer markets - Answer-GLOBAL, CONSUMER, BUSINESS,
GOVERNMENT
/.4 major types of advertising - Answer-pioneering
competitive
comparative
advocacy - institutional
/.4 types of consumer products - Answer-convenience, shopping, specialty, unsought
/.Additions to Product Lines - Answer-new products to supplement existing product lines
, /.advertising appeal - Answer-the unique selling proposition
- health
-convenience
-fun/pleasure
-emotion
/.Advocacy - Answer-expressing views on a change
/.AIDA - Answer-Attention, Interest, Desire, Action
/.Andrew is really important to marketers. He has the capacity to influence others in the
choices they make, is respected by others for his knowledge and is seen by others to be
a credible source of information. Andrew is part of WHAT GROUP when it comes to
consumer adoption? - Answer-Early adopters
/.Arnold is never the first to try new products, but he does try them before the average
person. He looks at mass media and those with more knowledge as sources of
information. Arnold is part of what group when it comes to consumer adoption? -
Answer-Early majority
/.Attribute - Answer-a product feature
/.Baby Boom Generation - Answer-massive group of consumers
believe in youth
/.Barry tends to be skeptical when it comes to new products such as driverLESS cars .
He doesnt trust mass media/salespeople. He will ONLY adopt a product when most
people have already purchased it. Barry is part of what group when it comes to
consumer adoption? - Answer-Laggards
/.Behavioural segmentation - Answer-dividing a market into segments based on
consumer knowledge, attitudes, uses, or responses to a product
/.Benefit - Answer-based on needs and wants
people seeking certain benefits
/.BRAND EQUITY - Answer-the value of company and brand names
/.Brand Mark - Answer-the elements of a brand that CANNOT be spoken
/.Brand name - Answer-part of brand that CAN be spoken
