Examlex
What is a person reducing if they start taking public transportation and riding a bicycle?
Rationalization
The process of reorganizing a company or system to make it more efficient and effective, often involving reductions in staff.
Abandoning Markets
The strategic decision to exit a market segment or stop marketing efforts in a particular geographic or product area.
Hierarchy Of Effects
A model describing the stages a consumer goes through, from awareness to knowledge, liking, preference, conviction, and finally purchase.
Need Recognition
The first stage in the consumer buying process, where a potential buyer realizes a difference between their current state and a desired state.
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