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Questions and Answers

What are the 5 stages of consumer adoption?

  • Awareness, Evaluation, Feedback, Trial, Adoption
  • Awareness, Interest, Evaluation, Trial, Adoption/Rejection (correct)
  • Adoption, Trial, Interest, Awareness, Evaluation
  • Interest, Evaluation, Trial, Adoption, Feedback

    • Which factors affect consumer adoption?

  • Readiness of consumer and organization (correct)
  • Advertising budget
  • Expert recommendations
  • New products, rates, and personal choices (correct)

    • What are the risks associated with consumer behavior?

    Economic, Environmental, Social

    List the categories of consumers.

    <p>Innovators, Early Adopters, Early Majority, Late Majority, Laggards</p> Signup and view all the answers

    What term describes individuals who are risk-takers in the adoption process?

    <p>Innovators</p> Signup and view all the answers

    Who are considered gatekeepers in the consumer adoption process?

    <p>Early Adopters</p> Signup and view all the answers

    Who are risk avoiders in the consumer adoption process?

    <p>Early Majority</p> Signup and view all the answers

    What characterizes the late majority in consumer behavior?

    <p>Cautious and Skeptical</p> Signup and view all the answers

    What is a laggard in the context of consumer adoption?

    <p>Slow to adopt</p> Signup and view all the answers

    Define Corporate Social Responsibility (CSR).

    <p>A gesture of showing the company's concern and commitment towards society's sustainability and development.</p> Signup and view all the answers

    What are the components of CSR?

    <p>Contribute, Make Social Changes, Improve Social Environment</p> Signup and view all the answers

    What are the types of CSR?

    <p>Responsibility towards society, government, shareholders, employees, and consumers</p> Signup and view all the answers

    What does responsibility towards society entail?

    <p>Contributing towards the development of social health, education.</p> Signup and view all the answers

    What does responsibility towards government include?

    <p>Paying taxes</p> Signup and view all the answers

    Explain responsibility towards shareholders.

    <p>To build reputation and goodwill of the company.</p> Signup and view all the answers

    What does responsibility towards employees involve?

    <p>To provide a healthy working environment.</p> Signup and view all the answers

    What is the responsibility towards consumers?

    <p>Adopt fair pricing</p> Signup and view all the answers

    What is meant by the triple bottom line?

    <p>An accounting framework with three parts: social, environmental, and financial.</p> Signup and view all the answers

    Define cause-related marketing.

    <p>Contributing a portion of revenues from selling certain products to causes.</p> Signup and view all the answers

    What is green marketing?

    <p>Promotion of healthy, reusable, eco-friendly products.</p> Signup and view all the answers

    What is greenwashing?

    <p>Disinformation disseminated by an organization to present an environmentally responsible public image.</p> Signup and view all the answers

    Which of the following are tactics used in greenwashing?

    <p>Use of misleading green images (A), Unsubstantiated claims (C), Lesser of two evils (D)</p> Signup and view all the answers

    Define knockoffs.

    <p>Copy of an existing product that sells at a lower price than the original.</p> Signup and view all the answers

    What is counterfeiting?

    <p>Act of making or selling lookalike goods or services bearing the logo or name of another company.</p> Signup and view all the answers

    How do food companies market food to children?

    <p>Food companies use television as a key marketing channel targeting children.</p> Signup and view all the answers

    What are the issues/side effects related to the obesity crisis associated with food companies marketing to children?

    <p>Increased rates of childhood obesity and related health issues.</p> Signup and view all the answers

    What are online privacy issues?

    <p>Tracking you while you shop online and using Wi-Fi signals from smartphones to track consumers in stores.</p> Signup and view all the answers

    Define social media.

    <p>Means of interactions among people in which they create, share, and exchange information and ideas in virtual communities and networks.</p> Signup and view all the answers

    What are mobile ads?

    <p>Chunks of software installed on devices that are gateways to games, online resources, and social networking.</p> Signup and view all the answers

    What does sustainability mean?

    <p>The quality of not being harmful to the environment or depleting natural resources.</p> Signup and view all the answers

    What is the history of sustainability?

    <p>Concerns over climate change and environmental protection have evolved since the 1970s.</p> Signup and view all the answers

    List the framework of sustainability.

    <p>Environmental quality, economic productivity, social equity.</p> Signup and view all the answers

    Define environmental quality.

    <p>Not littering/picking up litter, renewable energy.</p> Signup and view all the answers

    What is economic productivity?

    <p>Live within your means, support yourself.</p> Signup and view all the answers

    What does social equity encompass?

    <p>Ethical issues, human well-being.</p> Signup and view all the answers

    Define sustainable product design.

    <p>Worst case scenario; cradle to grave.</p> Signup and view all the answers

    What are fundamental design problems?

    <p>Product lifecycle where everything goes to landfill.</p> Signup and view all the answers

    What does eco-efficiency mean?

    <p>Doing more with less.</p> Signup and view all the answers

    What are the four R's?

    <p>Reduce, Reuse, Recycle, Regulate.</p> Signup and view all the answers

    What is an ecological footprint?

    <p>It compares human consumption of natural resources with Earth's ecological capacity to regenerate them.</p> Signup and view all the answers

    Who are freegans?

    <p>Someone who is trying to escape the economic system and trying to cancel out the exchange of money for something they can get for free.</p> Signup and view all the answers

    Study Notes

    Consumer Adoption Process

    • Five stages of consumer adoption: awareness, interest, evaluation, trial, and adoption/rejection.
    • Factors influencing consumer adoption include consumer readiness, organizational readiness, product novelty, adoption rates, and personal choices.

    Consumer Categories

    • Innovators: characterized as risk-takers who embrace new ideas and products first.
    • Early adopters: serve as gatekeepers for trends, influential in the adoption process within their communities.
    • Early majority: typically more cautious, avoid risks and prefer to see proven benefits before adoption.
    • Late majority: skeptical and require convincing before embracing new products; typically adopt once they see widespread acceptance.
    • Laggards: the last group to adopt, usually resistant to change and slow in trying new products.

    Corporate Social Responsibility (CSR)

    • CSR reflects a company’s commitment to sustainability and social development, showing concern beyond profit margins.
    • Components of CSR focus on contributing positively to society, enacting social changes, and improving the social environment.
    • Types of responsibilities include obligations to society, government, shareholders, employees, and consumers.
    • Responsibility towards society aims at improving social health and education.
    • Responsibility towards government generally encompasses fulfilling tax obligations.
    • Responsibilities toward shareholders involve building company reputation and goodwill.
    • Employee responsibilities prioritize offering a healthy working environment.
    • Responsibilities toward consumers entail fair pricing practices.

    Sustainability Concepts

    • Triple bottom line framework examines social, environmental, and financial impacts.
    • Cause-related marketing involves donating a portion of product sales to charitable causes.
    • Green marketing promotes eco-friendly, reusable products.
    • Greenwashing refers to misleading claims companies make to appear environmentally responsible.
    • Greenwashing tactics include unsubstantiated claims, lesser of two evils comparisons, and use of misleading imagery or names.
    • Knockoffs are cheaper copies of existing products; counterfeiting involves creating lookalike goods with another company’s branding.
    • Marketing channels on television target children, raising concerns about the obesity crisis linked to food marketing practices.
    • Online privacy issues highlight tracking consumer behavior both online and in-store through technological means.
    • Social media acts as a platform for users to create and share content within virtual communities.
    • Mobile ads serve as interactive software for access to games and social networking.

    Sustainability History and Framework

    • 1970s concerns about an impending ice age transitioned to awareness of the ozone layer by 1985.
    • The 1997 Montreal Protocol aimed to phase out CFC usage; recovery of the ozone layer was reported in 2010 with warnings about potential global warming impacts.
    • The framework of sustainability encompasses three pillars: environmental quality, economic productivity, and social equity.
    • Environmental quality is promoted through practices like not littering and utilizing renewable energy.
    • Economic productivity advocates living within financial means and self-support.
    • Social equity addresses ethical issues and focuses on human well-being.

    Ecological and Sustainable Practices

    • Sustainable product design evaluates a product's lifecycle, from creation to potential end-of-life disposal.
    • Eco-efficiency emphasizes maximizing outputs while reducing resource inputs.
    • The four R's of sustainability focus on reducing waste, reusing materials, recycling products, and regulating resource use.
    • The ecological footprint measures human consumption against Earth's ecological capacity for regeneration.
    • Freegans challenge traditional economic systems by seeking free alternatives and minimizing reliance on monetary transactions.

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