Management and Organizational Studies 3321F/G Chapter Notes - Chapter 1: Peer Pressure, Psychographic

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

Document Summary

Marketers can find it useful to categorize in terms of demographics or psychographics. Consumer characteristics have a huge influence on the applications of marketing. The peer pressure to buy goods that will be approved by the community. Consumer behaviour: the study of the processes involved when individuals select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires. Initially cb was referred to as buyer behaviour with an emphasis on the interaction between consumers and producers at the time of purchase. Marketers now recognize that cb is an ongoing process, not merely what happens at the moment a consumer hands over money or a credit card and in turn receives a good or service. Market segmentation: identifies groups of consumers who are similar to each other in one or more ways and then devises marketing strategies that appeal to one or more groups.