Reference no: EM131829355

Problem: Cosumer Behaviour

1. Fat is good for you, artificial sweetener bad and cricket flour is a real thing being sold as a healthy source of protein in snack bars. Food companies and grocers count on us flitting from one eating habit to another to profit from a steady supply of products tailored to new tastes. But forecasting eating habits is tricky. Some new foods or health trends become common parts of daily life, like $4 lattes, while others such as caffeine gum fizzle.

What can a food or apparel company do to spot new trends/fashions? Can we tell if it's a trend or just a fad?

2. In Class your instructor wanted show you a video program from a 2001 PBS program entitled the Merchants of Cool. Watch this video (A bit-dated, but I think you will appreciate some of the memories).

• Do you think this is ethical?

• What techniques were used to understand teens (millennials)?

• Do you think these techniques would work today? Why/why not?

3. What is culture? List three dimensions that social scientists use to describe a culture and give an example of each. Does America have an American culture? Why or why not? (1/2 page)

4. What are the two dimensions that influence whether reference groups affect consumer buying behavior? Which groups tend to be more influential, large formal groups or small informal groups? Why?