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The Consumer

The Consumer. BMI3C. Why we buy…. What motivates you to buy consumer goods and service? Make a list of the factors that influence your buying habits. Some Key Terms. A consumer is a person who USES a product A customer is a person who BUYS a product. Gatekeepers.

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The Consumer

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  1. The Consumer BMI3C

  2. Why we buy… • What motivates you to buy consumer goods and service? • Make a list of the factors that influence your buying habits

  3. Some Key Terms • A consumer is a person who USES a product • A customer is a person who BUYS a product

  4. Gatekeepers • If the consumer is a child, a parent/guardian, called a gatekeeper, is the person who buys the product for the child • The challenge for marketers of these products is to appeal to both the gatekeeper and the consumer • Examples?

  5. Needs and Wants • Needs are items that are necessary for survival • Wants are extras that add pleasure and comfort to our lives

  6. Changes in Consumer Demand • Marketers must consider and analyze consumer demand • The value equation is an essential component of the consumer demand • Consumer demand is constantly changing based on the economic shifts in a country, city, or region, as well as changes in consumer preference (based on trends and fads)

  7. Questions • Select 10 products you have in your home, and for each, suggest the needs/wants they satisfy • How are your needs/wants affected depending on where you live in the world? • What factors affect consumer demand?

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