What is the American Market Association's definition of Marketing? Show
A. The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. What does MARS stand for? A. Measurable, Accessible, Responsive, Substantial - Describe a population: Age, Income, Gender, Race, Education, Location, Etc. - Demographic Characteristics are strongly related to consumer buyer behavior. - Marketers refer to designated age - cohort groups by these names: Tweens, Teens, Generation Y, Generation X, and Baby Boomers. Each cohort has its own needs, values, and consumption patterns. Social Factors: Reference groups, opinion leaders, family, word of mouth. Cultural Factors: Culture and values, subcultures & social class. Personal Factors: Age, Gender, lifecycle stage, occupation, lifestyle, personality, self-concept. Psychological Factors: Perception, motivation learning, beliefs and attitudes Recommended textbook solutions
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