MAT 114 Lecture Notes - Lecture 3: Millennials, Yer, Disposable And Discretionary Income
21 Nov 2017
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Determined by whether or not the total shopping experience meet or exceeds customer expectations. Shopping experience meeting customers needs = rewarding shopping. Satisfied consumers: spend more money & more likely to come back. All the activities performed by the retailer that influence. Dividing population into smaller, more homogeneous groups based on their characteristics. Current trends affect the way the consumer behaves economic trends. Population growth- as population increases so will the demand for goods. Population decreasing- doesn"t mean all stores will suffer. Shouldn"t be overlooked by retailers even though growing older. First to grow up with internet, text, facebook, etc. Cannot assume all hispanics behave the same in the marketplace (common mistake) Shopping tendencies are unique even as they become more mainstream. Location or where consumers reside - affects how consumers buy. Not all consumers in a certain geographic area have the same purchasing habits (true for regions and cities more than neighborhoods)
