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- With which stage in the family life cycle wouldthe purchase of the following products and ser-vices be most closely identified? (a) bedroom fur-niture, (b) life insurance, (c) a Caribbean cruise,(d) a house mortgage, and (e) children’s toysFor the following products, discuss how having children or not might affect the choices a couple makes. What do such variations mean for marketers? Discuss each of the following products. Groceries Cars Vacation4 With which stage in the family life cycle would the purchase of the following products and ser- vices be most closely identified? (a) bedroom fur- niture, (b) life insurance, (c) a Caribbean cruise, (d) a house mortgage, and (e) children’s toys.
- 1-8 What is the difference between ultimate consumers and or- ganizational buyers?Would personal income, disposable income, or discretionary income be the of the greatest interest to marketers?The marketing mix of almost any business will be made up of the following main elements: * Product, Place, Price, Promotion O Product, Place, Price, Portion Income, Lifestyle, Location, Age Income, Lifestyle, Location, Gender 58 II
- What types of products would you use demographic segmentation for?How about psychographic segmentation? Explain how these products differ.Chapter 12 outlines the VALS lifestyle segments.Which of these lifestyle segments is the most likelytarget market for Patagonia products? Could morethan one group be a good target market? Justify youranswer1. There are, of course, people of most lifestyle types in all European countries, but their numbers vary. Try to determine which lifestyles are the most common in some European countries that you know. 2. If you have access to foreign TV channels, try to compare the advertising in the ones from your own country with the foreign ones. Are the styles different? Are the predominant products different? Is the use of a certain style of advertisement for a certain type of product similar or dissimilar?
- Do the male and female members of the segments have differing requirements of the distribution system? Do working couples, single individuals, or single parents within the segment have unique needs relating to product distribution?Personal Value is defined as “an enduring belief that a specific mode of conduct or end-state or outcome is desirable or good.” Lifestyles are consumers’ modes of living as reflected in their activity, interests, and opinions. Psychographics, on the other hand, involves the use of psychological, sociological, and anthropological factors to determine how the market is segmented by the propensity of groups within the market and their reason to make a particular decision about a product. a) Discuss the most frequently used measuring instruments of lifestyle-The Rokeach Value Survey (RVS) and the List of Values (LOV); b) Determinants of Life Style & its behavioral impacts; c) Discuss Values, Attitudes and Lifestyles (VALS) framework.Would your answer to Question 37change if the products were limitedto children’s toys?