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Consumer- is a person who uses a product but not necessarily buys the product. (E.g. babies &
Customers- are people who buy the products. Customers are interchangeable with consumers
because they can consume and purchase the product (E.g. parents for the diapers)
Gatekeeper- a person who oversees the care of another (E.g. parents for babies)
Consumer Demand- in Canada, consumer demand is driven by what we want rather than what
¾ Demand is always changing
¾ Economic conditions
¾ Needs & wants
¾ Lifestyle changes
Product Life Cycles (market life cycles)
¾ Describes the changes in consumer demand over time.
¾ No product is in demand forever
¾ Helps manage a product in terms of marketing, price, promotion, place & product
¾ Four types of cycles: Traditional, fad, seasonal & niche
¾ Introduction- low ± new mayonnaise
¾ Growth- Increased ± iPhone
¾ Maturity- highest ± ketchup
¾ Decline- decreasing- C.D.
¾ Decision point ±lowest point ± VHS
x New product aka product launch is the moment when a new product is introduced
into the marketplace; the birth of a new product
x New products use Push and Pull Strategies. The purpose is to inform the consumer
about new products and to establish the value equation
Pull- samples, coupons, etc.
Push- product placement in retail stores.
Consignment deals- allow the retailer to return any unsold products to the
manufacturer after displaying them for a certain time period
Shelf allowance- is money paid by manufacturers to a retailer to provide shelf
space for a new product.
x Once early adopters/ trend setters find and use a new product, other consumers are
likely to follow.