The Art of Consumer Behavior

 Marketers take into account consumer's ethnicity and racial differences. Research has discover that members in a minority group will find a spokesperson from their own group more trustworthy. It is more likely for them to consider purchasing the product. Although the research is true, marketers need to be cautious about assuming all members of an ethnic or racial group are the same. This is not the case. Consumers may find certain ads offensive when they are geared towards their ethnic or racial group. If they find it offense, then the marketers did not succeed in trying to target them and convince them to buy their products. When individuals immigrate to a new country, they may go through acculturation. This is a process in which the individual learns the beliefs and behaviors endorsed by another culture. These people choose to assimilate to their environment. Others may choose to resist the blending process and stick to their cultures and traditions. They do not want to blend in...

 Every consumer needs to have money in order to buy goods and services. They need a job to have income and be able to spend money on necessities such as groceries, transportation, and shelter. If they have dependents such as children and pets, they need money to support them as well. A survey was done in the U.S. with 450,000 respondents and the majority agreed that making $75,000 annually would give them a comfortable life. As prices continue to rise, this number may rise eventually. The money that individuals have left over after living comfortably is called discretionary income.  After the Great Recession of  2009, consumers have been wary about the health of the economy. Recently, stocks have declined due to COVID-19. The pandemic has left many individuals without jobs and many businesses to permanently shut their doors. There tend to be two extreme type of spenders. The first are called tightwads. They hate spending money. Generally men, older people, and individuals...