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Written by:
Thomas M
Date added:
July 30, 2014
Level:
University
Grade:
B
No of pages / words:
4 / 867
Was viewed:
8831 times
Rating of current essay:
Essay content:
This consumer-driven, global economy ? the "trading up" phenomenon - was created and is driven by social and economic demand factors below.
Consumer Income - what consumers CAN buy:
? Increased discretionary income has influenced what consumers can buy.
? Increased number of women working outside the home increases total household income
? A rise in numbers of affluent households...
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Consumers of New Luxury goods embrace entrepreneurship and specialty items.
? Companies must have high performance - stay ahead of the growth of substitutes by supporting resources for research and development for new, improved products and updates.
? Companies must gain and retain consumer loyalty - understanding their customer's motivation and behavior to provide real value to the 4 Ps of marketing...
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