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Why Is It Important for Marketers to Understand the Consumer

question 15

Essay

Why is it important for marketers to understand the consumer decision-making process and hierarchy of effects model? the position of customers on that continuum? In your answer,provide examples of marketing activities that are effective at different stages.


Definitions:

Dividends

Payments made by a corporation to its shareholder members, typically out of the company's profits.

Market Price

The price at which an asset or service can be bought or sold in a given market.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term financial health of the business.

Company

An organization created by several individuals for the purpose of running and managing a business, which can be either commercial or industrial in nature.

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