Why Is Lifestyle Analysis Important for Marketers

question 103

Multiple Choice

Why is lifestyle analysis important for marketers?

• A)Because a company can decide on effective pricing policies and achieve profit maximization
• B)Because a company can offer extra features which particular lifestyle groups value and are willing to pay for
• C)Because a company may choose to target a particular lifestyle group with a product offering, and use advertising which is in line with the values and beliefs of this group
• D)Because a company needs to identify potential consumers which they can target in future with their marketing communications efforts

Identify the challenges of external adaptation and internal integration faced by organizations.

Understand how organizational cultures are formed, communicated, maintained, and changed.

Comprehend the role of leadership and core values in shaping organizational culture.

Recognize the impact of reward systems and managerial actions on organizational culture.

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Definitions:

Apical Dominance

A growth pattern in plants where the main, central stem grows more vigorously than the other side stems, which are suppressed.

Cytokinin

Plant hormone that promotes cell division in shoot apical meristem and cell differentiation in root apical meristem. Often opposes auxin’s effects.

Fleshy Fruits

Types of fruits that have a soft, edible part developed from the ovary of a flower, typically containing seeds.