Management and Organizational Studies 1021 Chapter Notes - Chapter All Final: Market Segmentation, Store Brand, Marketing Buzz

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021
• Professor: Chris Racknor

Document Summary

Psychology helps marketers understand why and how consumers behave as they do: motivation, perception, learning, attitudes, lifestyle, values, beliefs, personality. American/western culture, doesn(cid:495)t fit as well in collectivistic asian cultures, esteem needs are not as important as the social needs) Illustrations (i. e. frames direct. com lets you virtually try on glasses: warranties and guarantees (i. e. indigo 100% money back. Influences that stem from one(cid:495)s relationship with others: reference groups, family, subculture, personal influence, culture. Reference group: reference group: a group of people who influence a person(cid:495)s attitudes, values, and behaviour. Joint decision-making is common for cars, vacations, houses, appliances and electronics, medical care, and long distance telephone services: wives tend to have the most say when purchasing groceries, children(cid:495)s toys, medicine, and clothing maintenance purchases, user, e. g. Culture and subculture: culture: set of values, ideas, and attitudes that are learned and shared among the members of a group, e. g.