Chapter 1 Flashcards
What is Consumer Behavior ?
when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to meet their needs.
What are the three consumer behavior key terms ?
- Customer: Person who buys a product.
- Consumer: Person who uses a product.
3.Prospect: Potential customer.
What are the market segmentation types ?
Demographic , geographic , behavioral & psychographic
Demographic segmentation includes ?
Sex , Age , Gender , Income , Nationality , Education
Psychographic Segmentation includes ?
Social class, lifestyle (e.g., adventurous, family-oriented), personality traits (e.g., ambitious, proactive).
Geographic segmentation includes ?
Region, city size, urban vs. rural.
Behavioral Segmentation includes ?
Based on product usage, loyalty, and attitude towards the product.
Age and life cycle stage segmentation
Different marketing for various age groups (e.g., children vs. adults).
Gender segmentation
Market products specifically for men or women (e.g., L’Oreal’s men’s skincare).
Income segmentation
Target affluent vs. low-income consumers.
What are a consumers needs ?
Basic requirements like food, shelter, safety.
What are a consumers types ?
Physical (food, warmth), Social (belonging), and Individual (self-expression).
What are a consumers wants ?
Shaped by culture and individual preferences (e.g., American wants a Big Mac, Egyptian wants fool and ta’meya).
Whats a consumers demands ?
When wants are backed by purchasing power.
What are 3 types of consumer needs ?
- Need for Affiliation: Desire to be with others (e.g., group sports).
- Need for Power: Control over one’s environment (e.g., weightlifting).
- Need for Uniqueness: Asserting individual identity (e.g., personalized products).
