Because a Purchase Decision Can Involve More Than One Source

question 72

Essay

Because a purchase decision can involve more than one source of motivation, consumers often find themselves in situations in which different motives, both positive and negative, conflict with one another.Identify and discuss three general types of motivational conflict.In addition, comment on how these conflicts help to bring about the satisfaction of needs.Provide an example of how marketers tailor their marketing communications to fit consumer needs in each of these cases.

Recognize the significance of holding a broad portfolio of stocks for long-term investment benefits.

Understand the concept of market equilibrium and how prices adjust to equilibrate supply and demand.

Analyze the effects of external factors on market prices and quantities.

Understand the principles of personal finance and investment strategy.

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Definitions:

JIT Systems

Just-in-time production strategies that aim to reduce in-process inventory and carrying costs by producing only what is needed, when it's needed.

TPS

An acronym for Toyota Production System, a methodology that aims to increase efficiency by eliminating waste and improving production processes.

Inventory

The total amount of goods and materials held by a company at a given time, including raw materials, work-in-progress, and finished goods.