Explain the Three Types of Reference Groups and Their Implications

question 119

Essay

Explain the three types of reference groups and their implications for marketers.

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Definitions:

Short-Term Orientation

A focus on immediate or near-future outcomes and gratifications, often at the expense of long-term goals.

Main Work Values

Fundamental beliefs that guide preferences and behaviors in the workplace, including priorities like job security, salary, and work-life balance.

Self Competency

The understanding and utilization of one's own skills and abilities to effectively accomplish tasks and goals.

Agreeableness

A personality trait characterized by warmth, kindness, and a cooperative and sympathetic attitude towards others.