Briefly compare and contrast the three concepts of self-identity, personality, and lifestyle, explaining how each influences consumer buying behavior
What will be an ideal response?
Self-identity is an individual's understanding that he or she is unique. Unique self-identity leads to different behaviors relative to other individuals. Individuals tend to select products and services that are consistent with their perception of their self-identity. Personality is a sense of consistency, internal causality, and personal distinctiveness. Personality is expressed through behavior patterns. Consumers often select products and services that they perceive to fit their personalities. Lifestyle is a way of life expressed by how individuals spend their time and resources. Like self-identity and personality, an individual's lifestyle also influences his or her purchase decisions.
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Scanner data is often used to measure the impact of the marketing communications in which of these programs?
A) test markets B) cognitive neuroscience C) purchase simulation tests D) emotional reaction tests
Which of the following is TRUE of a purchases journal?
A) For a periodic inventory system, the Merchandise Inventory DR column is replaced with a column titled Cost of Goods Sold DR. B) Cash purchases are recorded in the purchases journal. C) For a perpetual inventory system, a column titled Purchases DR is needed. D) The Other Accounts DR column is used for purchases on account of items other than merchandise inventory and office supplies.
The cost of assets acquired for a lump sum should be allocated equally among the acquired assets
Indicate whether the statement is true or false
Which of the following evaluation methods ignores the time value of money?
A) The accounting rate-of-return and discounted cash flow methods B) The net present value and discounted cash flow methods C) The payback period and net present value methods D) The accounting rate-of-return and payback period methods