[Management and Organizational Studies 3321F/G] - Final Exam Guide - Everything you need to know! (47 pages long)

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3321F/G
• Professor: Tara Lee

Document Summary

It is the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas, or experiences to satisfy needs and desires. Family structure and life stage family structure and marital status are two important demographic variables because they have a big impact on consumers spending priorities. Social class and income those grouped within same social class are approx. equal in terms of incomes and social standing similar occupations, tastes in music, clothing, art. Lifestyles: way we feel about ourselves, things we value, things we like to do in our spare time. Interdependence = part of users daily routine: love = product elicits emotional bonds of warmth, passion and positive feelings. In many ways we are at the mercy of the marketer: rely on them to sell us p/s that are safe, tell us truth about what they are selling, and to price and distribute these products fairly.