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How can marketers and consumers reduce cognitive dissonance?
Seek information that reinforces positive ideas about the purchase. Avoid information that contradicts the purchase decision. Revoke the original decision by returning the product. Offer guarantees.
How does the advertising agency market a product to the consumers?
An advertising company works with the product company to develop a commercial and other promotional ideas to get consumers to want to purchase the product.
What are advertising appeals?
Advertising appeal is used to grasp the attention of consumers and to persuade consumers to purchase a service or product.
Why marketers go beyond selling a product or service to create a brand experiences?
The main reason marketers go beyond selling a product and/or service to create a brand experience is to gain repeat customers. If the customer is familiar and happy with the brand, they are very likely to purchase the product or service in the future.
Why do marketers define products in terms of benefits?
Product developers create features. But buyers are interested in the benefits - that's how they evaluate a purchase. If marketers emphasized features, they would not be taking the customer's perspective. You don't buy features - you buy benefits.
How can marketers and consumers reduce cognitive dissonance?
Seek information that reinforces positive ideas about the purchase. Avoid information that contradicts the purchase decision. Revoke the original decision by returning the product. Offer guarantees.
Consumers who are willing and able to purchase a product or service create an economic situation referred to as which of the following?
demand
Explain why elasticity of demand is such an important concept to marketers who sell a commodity product?
Elasticity of demand is important to marketers because it helps them know the optimal price for the product. When a product is priced too high, the consumers may opt for a competitor's product.
The general willingness of consumers to purchase a product at various prices is .?
Demand is the general willingness of consumers to purchase a product at various prices.
How can marketers provide positive reinforcement to consumers after the purchase to reduce their dissonance?
Marketers can provide positive reinforcement to consumers after a purchase by sending personalized thank-you messages or follow-up emails that highlight the benefits of their purchase, reinforcing its value. They can also encourage customers to share their experiences on social media, fostering a sense of community and validation. Additionally, offering loyalty rewards or exclusive content related to the purchased product can enhance satisfaction and mitigate post-purchase dissonance. These strategies help reassure consumers that they made the right choice and enhance their overall brand experience.
What is the price at which consumers will purchase the same quantity of a product that suppliers will produce?
The equilibrium price is the price at which consumers will purchase the same quantity of a product that suppliers will produce.
What economic term means the willingness of consumers to purchase a specific amount of a product at different prices?
Demand is the economic term meaning the willingness of consumers to purchase a specific amount of a product at different prices.
What economic term means willingness of consumers to purchase a specific amount of a product at different prices?
Demand is the willingness of consumers to purchase a specific amount of a product at different prices.
How does the anticipation effect impact consumer behavior in the context of marketing strategies?
The anticipation effect in marketing refers to how consumers' expectations about a product or service can influence their behavior. When consumers anticipate a positive experience or outcome, they are more likely to be interested in and purchase the product. This effect can be leveraged by marketers to create anticipation and excitement around their offerings, leading to increased consumer engagement and sales.
Which term means the willingness of consumers to purchase a specific amount of a product at different prices?
Demand is the economic term meaning the willingness of consumers to purchase a specific amount of a product at different prices.
How does the advertising agency market a product to the consumers?
An advertising company works with the product company to develop a commercial and other promotional ideas to get consumers to want to purchase the product.
What are advertising appeals?
Advertising appeal is used to grasp the attention of consumers and to persuade consumers to purchase a service or product.
