Consumer Markets and Consumer Buyer Behavior

22. Which of the following is an association of two or more individuals who have a shared sense of identity

j.Explain and justify which of these your business may use when marketing their product or service (one of the businesses products/services you have explained within task d).

* From the scenario for Katrina’s Candies, examine the key factors affecting the demand for and the supply of a good in general and Katrina’s Candies specifically. Distinguish between a change in demand and a change in the quantity demanded (movement along the demand curve).

availability of substitutes, and justify how you determine the price elasticity of demand for your firm’s product. b) Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price

Describe three macroeconomic variables in the United States that impact the supply and demand of your chosen product or service.

Consider the last purchase you made in these categories: personal electronics, clothing, and vacation destination. To what extent was your purchase decision influenced by decision-making complexity, individual influences, social influences, and situational influences? What specific issues were the most influential in making the decision? How could a marketer have swayed your decision in each case?

14) The attitudes and behavior patterns of consumers making a purchasing decision are part of the A. political environment

23) When customers buy on the basis of a reference price or because the price conveys a particular quality image to them, they are being influenced by ____________.

4) Why is ethics an important consideration in marketing decisions? Explain your answer with an example.

Q#1 Marketing has been described as being both an "art" and a "science." Discuss the differences and similarities between these two marketing thrusts. Provide your theoretical response and a "real-life" example where you have seen both processes work effectively at creating customer value and loyalty

The article that will be used for this analysis is “Supply, demand, and the Internet-economic lessons for microeconomic principles courses” by Fred Englander and Ronald L. Moy. There will be definitions for the following economics, microeconomics, Law of supply and the Law of demand. Another subject that will be discussed is the identification of factors that lead to the changes in supply and demand. In order to better understand what is being discussed going to start with the definitions.

1. Analyze the marketing environment and the forces shaping eBay’s business over the years. What conclusions can you draw?

There are four main factors that influence the consumer’s behavior; cultural, social, personal, and physiological. These factors determine what the consumer will buy, why they buy an item, and if they will be a return customer.

1. Consumers are often` confronted with incomplete information. How do consumers deal with incomplete information for (a) attribute values (b) brands? (give examples)

The fourth stage consists of individual and environmental influences that affect all five stages of the decision process. Individual characteristics include motives, values, lifestyle, and personality; the social influences are culture, reference groups, and family. Situational influences, such as a consumer’s financial condition, also influence the decision process. (Engel, 1995)