Briefly compare and contrast the internal influences of personality, self-concept, and lifestyle and discuss how each is relevant to marketers

What will be an ideal response?


Personality is the set of unique psychological characteristics that consistently influences the way a person responds to situations in the environment. Self-concept involves both psychological and behavioral factors. It is a person's positive or negative attitude toward his own abilities, behaviors, and personal attributes. Lifestyle is more behavioral than psychological--it is a pattern of living expressed through a person's activities, interests, and opinions. Personality, self-concept, and lifestyle are all important concepts for marketers to understand in their target markets. Marketers create brand personalities that match specific personality types to encourage consumers to see specific products as extensions of their own personalities. Marketers can appeal to consumers based on self-concept when marketing beauty and fashion products, among others. Lifestyle characteristics are also important for marketers. Data on activities, interests, and opinions can help marketers understand why people in the same demographic group are interested in completely different products.

Business

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Marketing communications budgets tend to be higher when there is much change in the marketing program over time and more complex customer decision making

Indicate whether the statement is true or false

Business

The cost to defend a patent successfully should be expensed in the period incurred

Indicate whether the statement is true or false

Business

A _____ is a financial contract in which the borrower and the lender agree to certain conditions about repayment, operating policies, other borrowing activities while they are outstanding, and other provisions

a. preferred stock b. common stock c. paid-in-capital d. bond e. a restriction on retained earnings

Business

Uniform Supply accepted a $4,800, 90-day, 10% note from Tracy Janitorial on October 17. What entry should Uniform Supply make on December 31, to record the accrued interest on the note?

A. Debit Cash $120; credit Interest Revenue $100; credit Interest Receivable $20. B. Debit Interest Receivable $20; credit Interest Revenue $20. C. Debit Cash $100; credit Notes Receivable $100. D. Debit Interest Receivable $100; credit Interest Revenue $100. E. Debit Cash $20; credit Notes Receivable $20.

Business