CH07 Targeting: Identifying and Understanding Consumers Flashcards
demographics (p. 170)
objective, quantifiable, easily identifiable, and measurable population data
lifestyles (p. 170)
ways in which individual consumers and families (households) live and spend time and money
discretionary income (p. 170)
money left after paying taxes and buying necessities (hehe haha)
culture (p. 172)
a distinctive heritage shared by a group of people that passes on a series of beliefs, norms, and customs
social class (p. 172)
involves an informal ranking of people based on income, occupation, education, and other factors
reference groups (p. 172)
individuals or groups that influence our opinions, beliefs, attitudes and behaviors
family life cycle (p. 173)
describes how a traditional family moves from bachelorhood to children to solitary retirement
household life cycle (p. 173)
incorporates life stages for both family and
nonfamily households
personality (p. 173)
the sum total of an individual’s traits, which make that individual unique
class consciousness (p. 173)
the extent to which a person desires and pursues social status
attitudes (opinions) (p. 173)
the positive, neutral, or negative feelings a person has about different topics
perceived risk (p. 173)
the level of risk a consumer believes exists regarding the purchase of a specific good or service from a given retailer, whether or not the belief is correct
motives (p. 176)
reasons for a consumers’ behaviour
outshopping (p. 177)
out-of-hometown shopping
eg. driving to the states for trader joes and target
cross-shopping (p. 179)
whereby consumers (1) shop for a product category at more
than one retail format during the year or (2) visit multiple retailers on one shopping trip
consumer behavior (p. 180)
the process by which ppl determine whether, what, when, where, how, from, whom, and how often to purchase G+S (MARK 305)
consumer decision process (p. 181)
has 2 parts: the process itself and the factors affecting the process
6 -step process: stimulus, problem awareness, information search,
evaluation of alternatives, purchase, and post-purchase behavior
stimulus (p. 181)
a cue (social or commercial) or a drive (physical) meant to motivate or arouse a person to act
problem awareness (p. 181)
post-arousal through stimuli and they recognize that the G+S under consideration may solve a problem of shortage or unfulfilled desire
information search (p. 182)
has 2 parts: (1) determining the alternatives that will solve the problem at hand (and where they can be bought) and (2) ascertaining the characteristics of each alternative
evaluation of alternatives (p. 182)
if two or more options seem attractive, the person sets the criteria to evaluate and their importance before making a decision
purchase act (p. 182)
an exchange of money or a promise to pay for the ownership or use of a good or service
post-purchase behavior (p. 183)
can fall into either 2 categories: further purchases or re-evaluation
cognitive dissonance (p. 183)
doubt that the correct decision has been made
extended decision making (p. 184)
when a consumer makes full use of the decision making process
(eg. purchasing a new laptop)
limited decision making (p. 184)
when a consumer uses all the steps in the purchase process but does not spend a great deal of time on each item
(eg. buying a new phone case)
routine decision making (p. 184)
when the consumer buys out of habit and skips steps in the purchase process
(eg. grocery shopping)
impulse purchases (p. 184)
when consumers buy products and/or brands they had not planned on buying before entering a store, reading a mail-order catalogue, etc.
(eg. the line up to the cashes at winners)
customer loyalty (p. 186)
when a person regularly prioritizes a particular (store or nonstore) that they know, like, and trust
