Decision Making Process
Economic Needs and Wants
Collective Values
Factors that Influence Spending
Advertising and Marketing
100
The first step in the Decision-Making Process
What is "Define the Problem?"
100
The ingredients necessary for maintaining physical life
What are food water, shelter and clothing
100
The result of society's collective value for protection of citizens and property
What is "Law Enforcement?"
100
Age, marital status, gender, employment status, lifestyle
What is "position in life?"
100
The practice of setting prices at uneven amounts rather than in whole dollars
What is "odd number pricing?"
200
The Second Step in the Decision-Making Proess
What is "Obtain Accurate Information?"
200
Beyond what is necessary for biological survival
What are "life-enhancing wants?"
200
New ideas, methods or devices that bring about changes in the way we live.
What are "Innovations?"
200
A long establsihed practice that takes on the force of an unwritten law
What is a custom?
200
The specific consumer group to which advertisements are designed to appeal
What is a "Target Market?"
300
The third step
What is "Compare Choices?"
300
Principles by which a person lives
What are Values?
300
Because it is expected and demanded in order to survive in this society and most people who are able to, will
What is "Employment?"
300
Time, money, energy, skills and abilitie, available credit
What are "personal resources?"
300
Advertising intended to promote the image of a store, corporation or retail chain
What is "Company Advertising?"
400
The 4th Step
What is "Make a Decision?"
400
Your likes or dislikes
What are "personal preferences?"
400
Preserving natural resources and minimizing environmental damage
What is "quality of environment?"
400
Slow to change, but do change over time
What are "Values?"
400
A marketing strategy designed to target specific peopel or small groups with products that they are likey to want.
What is "micromarketing?"
500
The 5th Step
What is "Take Action?"
500
The money you have left over after you've paid your expenses
What is "Discretionary Income?"
500
Organized and highly advanced, money contributed through taxes provides these services
What are "Public and Government Services?"
500
Change often
What are "Goals?"
500
An item of merchandise marked down to an unusually low price, sometimes below the store's cost
What is a "Loss Leader?"
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