To discuss: Consumer market and the four sets of factor which influences the
Explanation of Solution
Consumer market is the place where households and individuals will purchase the services or goods for the purpose of personal consumption.
The four factors factor which influences the behavior of consumers are as follows:
- Cultural factors which includes culture, social class and subculture,
- Social factors which includes groups, family, status, roles and social networks.
- Personal factors which includes life-cycle stage, age, occupation, lifestyle, economic situation, self-concept and personality.
- Psychological factors which includes perception, motivation, beliefs, attitudes and learning.
To discuss: The factor which influences Person X to decide on choosing the school and plans for Saturday night.
Explanation of Solution
The characteristics influenced the choice of Person X while choosing the school is social factors because most probably the choice of school is decided by the parents and family members. So, social factors are the groups, family, social network, status and roles.
The characteristics influenced the choice of Person X while deciding the plans for Saturday night is personal factor because personal factors involves life cycle stage, economic situation, self-concept, occupation, and age.
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Chapter 5 Solutions
Principles of Marketing, Student Value Edition (17th Edition)
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- Describe your approach to marketing for the Home Care Agency. Who is your principal competitor? What are some strategies you can use to compete effectively? With Home Care Agency, would it be possible to partner with a competitor in producing/distributing a particular product? PLEASE EXPLAINarrow_forwardMountain Dews evaluation differentiate between how they approach business customers vs consumers. For their business customers, explain which of the following reasons is their main focus, 1) to support the production of other products, 2) to facilitate daily company operations, 3) or for resale. Then, explain which interpersonal determinant is the main focus for their consumer market. (If your approved company for your marketing plan evaluation does not have a B2B component, you can use a different company.arrow_forwardMarketing Excellence American Express from Marketing Management (Subscription) Kevin Lane Keller; Philip Kotler - 15th edition book, Questions 2. Evaluate American Express’s integration of its various businesses. What recommendations would you make to maximize the contribution to equity of all its business units? Is the corporate brand sufficiently coherent?arrow_forward
- What are your thoughts on the use of children’s online games to disguise marketing to them? Do you consider this practice to be ethical or unethical? Link is listed below https://www.nytimes.com/2011/04/21/business/21marketing.htmlarrow_forwardPick a company or brand that we’ve discussed in a previous chapter—Amazon.com, McDonald’s, Nike, Microsoft, Pepsi, or another. How does the company you chose use its understanding of customers and their buying behavior to build better customer relationships?arrow_forward1. EXPLAIN THE STAGES OF CONSUMER BUYER DECISION PROCESS AND DESCRIBE HOW YOU OR YOUR FAMILY WENT THROUGH THIS PROCESS IN PURCHASING A JOLIBEE VALUE MEAL2. WHAT ARE THE DISADVANTAGES AND ADVANTAGES OF WEB BASED SURVEY OVER TRADITIONAL SURVEY RESEARCH?3. HOW DO INSTITUTIONAL AND GOVERNMENT MARKETS DIFFER FROM BUSINESS MARKETS?arrow_forward
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