Explain how a marketer can address the situational factors of the purchase environment and time to influence consumer behavior
What will be an ideal response?
The purchase environment has considerable influence on consumer behavior. The pace of music played in a store can affect the pace of shopping, with faster music encouraging bolder and quicker consumer choices and slower music encouraging more leisurely shopping that may translate into more purchases. Marketers can design the overall traffic flow of a store, the lay-out of aisles, and even the organization of products on a shelf to influence consumer behavior, directing their attention to certain products. The situational factor of time also heavily influences consumer behavior, as a consumer may choose a secondary product to save time. Marketers can address this issue by carefully selecting retail locations and setting up an efficient purchase system.
You might also like to view...
Which of the following plays a role in determining utility costs?
a. revenue b. FF&E costs c. weather d. POM expenditures
On July 31, 2017, Archer, Inc reported the following information in the equity section of their balance sheet
Stockholders' Equity: Common Stock, $1.00 par, 500,000 shares authorized, 20,000 shares issued and outstanding $20,000 Paid-In Capital in Excess of Par-Common 1,180,000 Retained Earnings 3,200,000 Total Stockholder's Equity $4,400,000 Assume that Archer splits its common stock 3-for-1. Prepare an equity section of the balance sheet that shows the effects of the stock split. (Please round all numbers to the nearest cent.) What will be an ideal response