Posted: February 16th, 2017

What is the difference between an internal influence and an external influence as described by the Consumer Value Framework (CVF)?

. How is niche marketing different than differentiated marketing? 2. What is the difference between an internal influence and an external influence as described by the Consumer Value Framework (CVF)? 3. What is meant by the term “personality”? What does it mean that personality is unique to the individual? 4. What is meant by the terms “symbolic interactionism” and “semiotics”? How do these concepts apply in the daily life of a consumer? 5. What are the various power bases of reference groups? Give examples of how these power bases may influence consumers in their consumption decisions. 6. What do the terms acculturation and enculturation mean and how do they relate to consumer socialization? 7. How do the various types of risks influence consumer decision making approaches? 8. Identify and discuss the five factors that influence the amount of search performed by consumers in a typical decision making process. 9. What is meant by each of the following: universal set, awareness set, consideration set, inert set, and inept set? 10. Discuss the concept of value in the context of the consumption process. Your discussion of the concept of value needs to include the notion of utilitarian value and hedonic value. 11. How are models such as the elaboration likelihood model (ELM) and the attitude-toward-the-object (ATO) model provide their own unique contributions for marketers in understanding consumer attitudes.