influences on marketing Flashcards
What is the acronym PEGS?
physiological
economic
government
socio-cultural
physiological influences on consumer choice
different wording/advertising techniques makes a consumer more likely to buy a product eg. the use of the word “natural” creates a word association to consumers to be healthy despite the lack of evidence proving this
economic influences of consumer choice
changes in economic status within population groups affects a customers ability to spend
Boom/Recession
government influences on consumer choice
policies, procedures, laws or codes that directly influence customer buying behaviours
socio-cultural influences on consumer choice
peer, family, other people/group influences on a product
What does the acronym WIPD mean?
Warrenties
Implied conditions
Price discrimination
Deceptive and misleading advertising
what is a warranty?
A promise to repair a Faulty Product
what is meant by implied conditions?
the quality level that is expected of a product, safe, durable and free from defects.
what is deceptive and misleading advertising?
when a company advertises a product to be better than it is
what is price discrimination?
a system in place that makes it illegal to advertise a different price online than in story under the 2010 CCA
What is the CCA
the Australian competition and consumer act
What is the ACCC
The Australian competition and consumer commission
What Does the Acronym PEST stand for and what category is it under?
Ethical:
Products that may damage health
Engaging in fair competition
Sugging
Truth and accuracy
what is meant by the Term Truth and Accuracy & good tatse
- untruths due to concealed facts
- exaggerated claims
- vague statements
good taste:
Advertisements must not be offensive
what is sugging?
the process of getting customers to partake in a survey and then selling their product by the end of the survey
not illegal but does raises ethical concerns
