Test Bank for Chapter 1 - Buying,
Having, and Being: An Introduction to
Consumer Behavior 8th Canadian
Edition by Solomon
demographics - ANSMeasurable observable characteristics of a population. Age, gender, family
structure, social class or income, race and ethnicity or occupation.
consumption communities - ANSWhere members share opinions and recommendations about
about anything.
market segmentation strategies - ANSAn organization targets its product, service or idea, to
only to specific groups of consumer rather than everybody.
consumer behavior - ANSThe study of the process involved when individuals or groups select,
purchases, use, or dispose of products, services, ideas, or experiences to satisfy needs and
desires.
exchange - ANSA transaction in which two or more organizations or people give and receive
something of value.
consumer - ANSPerson who identifies a need or desire, makes a purchase, and the disposes of
the product during the 3 stages of consumption process.
heavy users - ANSMost faithful customers.
80/20 rule - ANS20% of users account for 80% of sales.
relationship marketing - ANSWhen marketers interact with customers on a regular basis and
give them solid reason ti maintain a bond with the company over time.
database marketing - ANStracks specific consumers' buying habits very closely and crafts
products and messages tailored precisely to people's wants and needs based on this
information.
Big Data - ANSThe collection and analysis of extremely large databases.
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