Chapter 1 and 8 Flashcards
What is Consumer Behavior?
The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.
When can firms succeed?
They can only succeed when consumers see a need that its product can solve, become aware of the product and its capabilities, decide that it is the best available solution, proceed to buy it, and become satisfied with the result of the purchase.
What happens during a consumer decision process?
They intervene between the marketing strategy, as implemented in the marketing mix, and the outcomes.
What four criteria does a segment typically meet?
– distinct from/ heterogeneous from other segments
- homogeneous within the segment (those within a segment exhibit similar needs)
- can be reached by a market intervention
- substantial/ profitable
What is a segment?
A group of people or organizations sharing one or more characteristics that cause them to have similar product and/or service needs.
What is market segmentation?
A portion of a larger market whose needs differ from the larger market.
What is an situational factor?
Include stimuli in the environment other than the focal stimulus and temporary characteristics of the individual that are induced by the environment.
What kind of influence does program involvement have?
positive on attention
What is a perceptual map?
A map businesses use to understand how customers perceive different products, brands, and services.
What are the external influences of consumer behavior?
*Culture
* Demographics and social stratification
* Ethnic, religious, and regional subcultures
* Families and households
* Groups
Traits that are physiological and psychological does what?
Drives our needs and desires and influences how a stimulus is interpreted.
What is required to formulate a marketing mix?
- Product
- Communications
- Price
- Distribution, and
- Service
What are the three factors of Attention?
- Stimuli
- Individual
- Situational
What role does context cues play in a situation?
The role is independent of the actual stimulus
What does a situation provide?
Context within which the focal stimulus is interpreted.
What is selective exposure?
The highly selective nature of consumer exposure is a major concern for marketers, since failure to gain exposure results in lost communication and sales opportunities (perceptual defense).
Individual factors care about?
- motivation
- ability
Two types of exposure are:
- selective
- voluntary
What is a stimuli factor?
Physical characteristics of the stimulus itself.
What are the 4 elements of a Marketing mix?
- Product
- Price
- Place
- Promotion
Situational factors care about?
- Clutter
- Program Involvement
Consumer’s learning and knowledge include:
-Meanings attached to such “natural” things as time, space, relationships, and colors are learned and vary widely across cultures.
-Learning about marketer-created stimuli like brands and promotions through their experiences with them
What does program involvement refer to?
Refers to interest in the program or editorial content surrounding the ads.
What is an affective interpretation?
The emotional or feeling
response triggered by a stimulus such as an a
How do consumers often evaluate the performance of a well-known brand to an identical product with an unknown brand name?
Higher
What are the characteristics of interpretation?
-individual
-situational
-stimuli
Interpretation tends to be consistent with
expectations
(called an expectation bias)
What is a cognitive interpretation?
A process whereby stimuli are placed into existing categories of meaning.
3 elements of perception are:
-Exposure
-Attention
-Interpretation
What is voluntary exposure?
Consumers actively seeking commercials and other marketing stimuli out for various reasons including purchase goals, entertainment, and information.
Individual characteristics include:
- traits
-learning and knowledge
-expectations
What are the two types of Interpretations?
- Cognitive
- Affective
What question does a marketing strategy answer?
How will we provide superior customer value to our target market?
What is an individual factor?
Characteristics which distinguish one individual from another
