CHAPTER 4 Consumer Motivation 1. Key Concepts Innate needs Acquired needs • Consumers have both innate and acquired needs. Give examples of each kind of need and show how the same purchase can serve to fulfill either or both kinds of needs. • Specify both innate and acquired needs that would be useful bases for developing promotional strategies for: o global positioning systems o sunglasses with built-in earphones and an MP3 player o recruiting
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Understanding the consumer attitudes and behavior is one of the key factors for an organization to successfully tap the business opportunities in the Philippines. This aspect is more crucial especially during crisis periods when there are number of changes in consumer attitudes and behaviors. The marketing managers and advertisers need to know and consider these changes while developing their promotional plans and media-mixes. In the short term‚ behavioral dimensions maybe even more important than
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may be defined as the “amount of satisfaction derived from a commodity or service at a particular time”. Assumptions: • UH:\Games.exetility can be measured. • Marginal Utility of money remains constant • No change in income of the consumer‚ his taste & fashion to be constant • No substitute • Independent marginal utility of each unit of commodity Utility Characteristics: • Utility is subjective/not measurable • Utility is variable • Utility is different
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will make them feel better. This "passion" becomes a powerful force that makes people make some unwise decisions in their life. The money consumers spend on these goods could be going to the ever-surmounting needs for health care‚ poverty help‚ or other things that would help the society as a whole. This is why America is the prime example of a capitalistic consumer society and not a socialistic country. People want things for themselves before anyone else. All cultures need consumerism to survive‚
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The Indian Consumer The middle class male consumer The middle class of India is for whom most of the advertising is targeted. Even in the lower middle class‚ consumer products like biscuits‚ talcum powder‚ hair oil‚ hair cream‚ toilet soaps‚ leather foot ware‚ casual foot ware‚ wrist watches‚ quartz watches etc. are purchased. To get a much better understanding of the middle class “male” head of the family‚ consider the following characteristics: Security Seeking: The middle class
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which they do not need. While most people have the knowledge not to buy things which they cannot afford‚ some people will buy it anyway using credit. While there are many forms of consumer debt‚ credit is the most common and expensive‚ as the magic of credit cards and their capabilities continue to evolve. While consumer debt has been around since before money‚ it has been rising exponentially among Americans due to lack of knowledge and cultural norms. Many people of the United States lack financial
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r Higher Diploma Programmes Consumer Behaviour Individual Assignment Topic Jackson and Kathy are high school lovers graduated from university two years ago. Both of them have settled in a stable job and are planning to get married next year. To prepare for an unforgettable wedding‚ they are actively searching for market information. Imagine yourself as the marketing manager of a wedding planning company. You are extending your product line to adventurous and creative wedding. How would
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* Product: KURKURE * Company: PepsiCo’s food division Frito-Lay * Ad Agency: JWT INTRODUCTION Kurkure was born in India‚ grew up with India DNA‚ flaunted Indian attitude‚ and has been entertaining everyone with an endearing Indian spirit….this Block busterish brand‚ now‚ rapidly is spreading its vibrant influence to as far as West Asia. Kurkure was launched by PepsiCo’s food division Frito-Lay in 1999. Named after the Hindi word for "crunchy"‚ Kurkure is a cheeto-like snack and is
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CONSUMER THEORY I Consumer theory – deals with how a consumer chooses the best bundle of goods he/she can afford. BUDGET CONSTRAINT To know which bundle of goods a consumer can afford‚ we have to look into the consumer’s budget constraint. We first assume that there are only two goods‚ say good x1 and x2. A consumer can choose from bundle A (3‚ 2) – 3 units of good 1 and 2 units of good 2; bundle B (6‚ 5) – 6 units of good 1 and 5 units of good‚ so forth. Given the price of good 1 (p1)‚
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Consumer Surplus: The difference between the maximum price that consumers are willing to pay for a good and the market price that they actually pay for a good is referred to as the consumer surplus. The determination of consumer surplus is illustrated in Figure 1‚ which depicts the market demand curve for some good. | | | | The market price is $5‚ and the equilibrium quantity demanded is 5 units of the good. The market demand curve reveals that consumers are willing to pay at least
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