- Demography is a study of changes over a period of time. Its important to to marketers because it gives them away to study the human population and see what types of people of what age would buy their product.
- The baby boomers, Generation X, and Millennials all have an impact on today's marketing strategies. If you try to sell a product that involves canes or retirement home then you should advertise to baby boomers but if your trying to sell a house or a car sell to Generation X. Millennials are young, some have kids and are finishing collage so you should try to get them to buy diapers, cars, and homes.
- The technological environment is such a dramatic force in today's market because most of today's youth can be found on the internet or on their phones. Technology is the best way to advertise towards them or get them to respond to something.
- Both core beliefs and values and secondary beliefs/values
- The statement "Too much information can be as harmful as too little." means if you don't have enough information you wont be able to collect all the things necessary for your product but, if you have too much information that doesn't mean its right.
- Secondary data is available because you can get information offline or from other companies about the same topic.
- If you work for a restaurant and observe how many people order what during what time of day, that is an example of primary data that could effectively be collected via observation.
- An example of a closed-end question would be "Did you eat breakfast this morning?"
- Consumers in different family life-cycle stages may respond to a marketer's promotional strategy different. For example
- The shift in needs changes if a nightclub lights on fire as compared to what the needs where before it was lit on fire. the need changes to be escaping the fire.