List and define the five stages of the cognitive decision-making process. Explain

List and define the five stages of the cognitive decision-making process.

 

 Explain the term “behavioral economics.”

 

 How have marketers responded to an increasing sense of time poverty among consumers?

 

What two basic dimensions determine if a shopper will react positively or negatively to a consumption environment? What factors can affect a consumer’s moods in the shopping environment that are a) under the control of the marketer and b) not under the control of the marketer?

 

Using examples, explain the difference between referent power, information power, and legitimate power.

 

What is a reference group? What is the difference between a membership reference group and an aspirational reference group? Use yourself in an example

 

Using an example, define and describe discretionary income.

 

What are the two major components of social class? Explain and comment on each component (such as which is more important).