Describe the "consumer class" and note the implications for public relations professionals
What will be an ideal response?
The world is awash with consumers. By one calculation, there are now more than 1.7 billion members of "the consumer class"–nearly half of them in the developing world. Worldwide, private consumption expenditures topped $20 trillion in 2000. The consumer class includes nearly two billion people worldwide. Often, their diets include highly processed foods, they desire larger homes and cars, they have higher levels of debt, and they have lifestyles devoted to the accumulation of non-essential material goods. The spread of consumerism has placed fresh pressures on multinational companies to act ethically, in the best interests of their global customers. Often it is public relations techniques and societal sensitivities that help distinguish a company and its products from the competition.
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According to the definition from the American Marketing Association, a consumer market insight refers to a ________ view and appreciation of research
A) pure B) applied C) qualitative D) quantitative E) holistic
________ is a competitive advantage in the form of relationships with other people and the image other people have of an entrepreneur.
A. Opportunity analysis B. Community standing C. Social capital D. Quality of life E. Legitimacy
If a party against whom enforcement of an oral contract is sought admits under oath that a contract for sale was made, the contract will be enforceable
Indicate whether the statement is true or false
The CFPA excludes from the Bureau of Consumer Financial Protection's authority the activities of all but which of the following?
A) Auto dealers B) Check cashing businesses C) Real estate brokers D) Employee benefit plans