Describe the characteristics of consumers.
DefinitionDescription should include loyal, discount, impulsive, need-based, and wandering consumers.
Description should also address level of engagement such as
- disengaged consumers
- partially engaged consumers
- fully engaged consumers (ready to buy).
- Why is it important to determine customer characteristics?
- Why is product placement important?
- What type of customers will purchase a certain product?
- How does a marketing professional determine to whom the marketing for a given product is targeted?
Related Standards of Learning
History and Social Science
The student will apply social science skills to understand the role of government in the Virginia and United States economies by
- describing the provision of government goods and services that are not readily produced by the market;
- describing government’s establishment and maintenance of the rules and institutions in which markets operate, including the establishment and enforcement of property rights, contracts, consumer rights, labor-management relations, environmental protection, and competition in the marketplace;
- investigating and describing the types and purposes of taxation that are used by local, state, and federal governments to pay for services provided by the government;
- analyzing how Congress can use fiscal policy to stabilize the economy;
- describing the effects of the Federal Reserve’s monetary policy on price stability, employment, and the economy; and
- evaluating the trade-offs in government decisions.