Chapter 1 - Consumers In The Marketspace Flashcards
What is consumer behavior?
CB is the study of the processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires
Why do marketers and advertisers use CB?
CB Theory is used to gain an insight into both commercial and social interactions that evolve from consumers everyday decisions and lifestyle practices
How is social media changing CB?
SM are transforming the way consumers interact with companies and with each other. Online commerce allows us to locate obscure products from around the world, and consumption communities provide forums for people to share options and product recommendations. The benefits are accompanied by potential problems, including the loss of privacy and the deterioration of traditional social interactions as people spend more time online
What is the dark side of CB?
The dark side of CB includes terrorism, addiction, the use of people as products (consumed consumers) and theft or vandalism (anti consumption)
What are the two main approaches to CB?
The positivist perspective emphasises the objectivity of science and the consumer as a rational decision maker.
The interpretivist perspective, in contrast, stresses the subjective meaning of the consumers individual experience and the idea that any behavior is subject to multiple interpretations rather than to one single explanation
What is the information processing paradigm- positivism
It’s assumptions are that consumers are goal oriented individuals and their behavior is a rational attempt to get the greatest benefit for their money by carefully considering all of the features a product offers and matching these with their needs
Information being logically sought and processed to reach the most satisfactory rational decision.
The informs processing paradigm =
Rational decision making
Cognitive processing and involvement in decision making
Decision making related to economic cost benefits
What is the experiential paradigm- interpretivism?
Highlights the affective rather than the cognitive influences on behavior. Emphasis is placed upon subjective and symbolic aspects of behavior such as feelings, emotions, sensory pleasures and fantasies. The focus is on the hedonic benefits of behavior.
The experiential paradigm =
Subjective decision making that is emotional rather than rational
Recognizes cumulative influence of culture, status, esteem and fantasy
Focuses on hedonic consumption
