Many of your perceptions regarding price versus value are likely to be different from those of your parents or grandparents. Researchers attribute such differences to cohort effects, which are based on the premise that consumption patterns are determined early in life. Therefore, individuals who experienced different economic, political, and cultural environments during their youth are likely to be different types of consumers as adults.
Describe instances in which your parents or grandparents disagreed with or criticized purchases you made.
Describe the cohort effects that explain each party’s position during these disagreements.
Consider items you have in closets and cabinets that might be considered cabinet castaways. What are these products? Why didn’t you use them?
What could be a marketer’s role to ensure that you use it or discard it and buy it again? Keep a consumer journal for three days. On each day, briefly describe each of your consumer journeys and decisions. Apply the concepts and terms in this chapter to analyze your consumer behavior.
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