Economic-Buyer Model Activity Paper
Charlene Andrews
Professor Chatmon
BUSS110-Marketing Principles
Economic-Buyer Model Activity
From an economic perspective, needs would be viewed as a consumer maximizing their dollar or buying potential by choosing the product that best meets their requirements based on value, features, functionality, convenience etc. Economic needs relate to the economic-buyer model of consumer behavior by consumers comparing similar products and weighing their buying options to ensure that their selection will offer value and satisfaction.
A purchase that I recently made that was consistent with the economic-buyer model was an electronic fireplace. As this was a relatively high dollar purchase for me, I was concerned about losing money if it did not
Professor Chatmon
BUSS110-Marketing Principles
Economic-Buyer Model Activity
From an economic perspective, needs would be viewed as a consumer maximizing their dollar or buying potential by choosing the product that best meets their requirements based on value, features, functionality, convenience etc. Economic needs relate to the economic-buyer model of consumer behavior by consumers comparing similar products and weighing their buying options to ensure that their selection will offer value and satisfaction.
A purchase that I recently made that was consistent with the economic-buyer model was an electronic fireplace. As this was a relatively high dollar purchase for me, I was concerned about losing money if it did not