CH 1 Flashcards
ntroduction to Consumer Behavior and Research Methods
consumer behavior def
the study of the psyc processes involved when indv or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs nad desires
consumer insights
gained by studying processes
what is the goal of studying consumer behavior
- supply and demand: help identify and understand marketplace demands 2. marketers almost always want to influence consumers
- understand and predict how consumers will react (and adapt) to change
who needs to understand consumer behavior
marketers, finance, nonprofits, org/consulting, and policymakers/regulators
why do we collect data in consumer behavior? why not just use intuition
- we are atypical - tend to be different from the median
- our expectations and preconceived notions can strongly color our experiences
- we lack introspective access
differences in ourselves and our target audience
strong intuitions can be wrong
people don’t accurately report what influences their behaviors
consumers don’t have introspective access to non-conscious processes
expectations can color our experiences
hindsight bias
somethings become clear after we learn/know the answer to it
correlational methods
purpose: prediction
approach: measure 2 or more variables
why: to develop a relationship
correlational research:
examines the relationship between 2 or more variables (whether they correlate or not) // x change y, predicting y because of x
correlation research pros and cons
pros: predict when an effect will occur, establish a relationship between variables, easy to collect data, can study variables that can not be manipulated
cons: correlations does not equal causation
positive and negative correlation
negative: one goes up, one goes down
positive: