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marketing 14.docx

2 Pages

Course Code
MKT 2210
Subbu Sivaramakrishnan

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1. consumer socialization. consumer socialization is the process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers. 2. family life cycle. the family life cycle is the distinct phases that a family progresses through from formation to retirement, each phase bringing with it identifiable purchasing behaviours. for example, young singles purchase clothing and entertainment. young marrieds without children purchase furniture and appliances. young marrieds with children represent a sizeable market for infant products and child care services. finally the older married and unmarried stages represent a sizeable market for medicine and health care services. 3. family decision making. family decision-making influences can be broken down into two decision-making styles: a. spouse dominant (wife or husband dominates) b. joint decision making (decision made jointly by husband and wife). five roles of individual family members in the purchase process exist. a. information gatherer b. influencer c. decision maker d. purchaser e. user increasingly, teenagers are assuming more of these roles for many purchases in single parent and working parent homes. . social class social class is the relatively permanent, homogeneous divisions in a society into which people sharing similar values, lifestyles, interests, and behaviour can be grouped. social class standing is related to the purchase and use of consumer products. a. people in upper classes are targeted by companies for items such as financial investments, expensive cars, a
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