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Consumer Behavior Trends

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Submitted By dharleyv420
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INTRO/ISSUE:

The world that we live in today is continuously transitioning into a knowledge-based society that is dominated by the access to anything or anyone, anywhere in the world. The internet has become an irreplaceable part of our everyday life and that is undeniable. People can do pretty much anything on the internet; join a social network, earn college credits, purchase goods and services, exchange information, share memories, play games, or even find a potential mate-- the possibilities and options are endless. Unfortunately, these technological advances and opportunities have led to a developed sense of dependency amongst our society. With this new found sense of user dependency, potential for companies to gain a leg up on markets is increasing exponentially. Companies are finding new ways to advertise, while gaining massive publicity through consumer feedback.

With new technologies being introduced every day, the increasing availability of the internet, and the abundance of “smart” devices, accessibility to information is endless and consumers are eager to share what they experience. (SOURCE) For years, advertising and publicity was fairly simple to obtain. However, with all of the changes and advances in networking and technology, new advertising opportunities are presenting themselves while, at the same time, providing major influence in the purchasing decision of consumers. (SOURCE) The increases in access to technology means that consumers are no longer constrained to certain sources or specific locations while pursuing needed items. No single source is driving the purchasing decision but, rather, multiple sources, leading to an empowered customer purchase. (SOURCE) These sources include owned, paid, and earned media.

In marketing there are three terms for the different forms of publicity – paid, owned, and earned. Paid publicity is just

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