Social Factors Exert a Broad and Deep Influence on Consumer

question 30

Essay

Social factors exert a broad and deep influence on consumer behavior. The marketer needs to understand the role played by the buyer's culture, subculture, and social class. Compare the roles of culture, subculture, and social class.

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Definitions:

Spending Variance

The difference between the actual amount of money spent and the budgeted amount for a particular period or item.

Applied Production

The practical application of manufacturing processes to produce goods or materials.

Fixed Overhead

Represents the regular, recurring costs associated with operating a business that do not vary with production volume, essentially an alternate term to Fixed Costs but specifically related to manufacturing overhead.

Budget Variance

The difference between the budgeted amounts of expense or revenue and the actual amounts incurred or earned.