chapter 1 flashcards
what are demographics?
statistics that measure observable aspects of a population, such as birth rate, age distribution, and income
how are demographics useful?
the data can be used to locate and predict the size of markets
describe the different demographic dimensions
age:
- each age has different wants and needs
- people who belong to the same age group can differ in many ways, however; they share a set of values and common cultural experiences
gender:
- marketing usually targets towards the two genders: boy and girl
- many brands that initially target towards only male or just female, seek to expand their market share
family structure and life stage:
- have a big impact on spending priorities
- adolescence and early adulthood are more likely to go to bars, concerts, movies, etc.
- middle adulthood individuals are big purchasers on safety products and toys
- households with older children may take their children shopping
social class and income:
- approx. equal interns of incomes and standing in the community
- the distribution of wealth is of great interest to marketers because it determines which groups have the greatest buying power and market potential
ethnicity:
geography:
- the climate changes around the world make segmenting by region a profitable strategy
lifestyles:
- the way we feel about ourselves, the things e value, the things we like to do in our spare time
what is relationship marketing?
involves giving customers a reason to be loyal customers, and reasons to maintain a bond with the company over time
what are the different types of relationships a person can have with a product?
self concept attachment: the product helps establish the user’s identity
nostalgic attachment: the product serves as a link with a past self
interdependence: the product is a part of a user’s daily routine
love: the product elicits emotional bonds of warmth, passion, or other strong, positive feelings
why do we use and need consumer research?
to find out about the different consumer attitudes, opinions, behaviours, and preferences because by understanding the consumer, the marketer is best able to appeal relevant needs
what is primary data?
data collected by the researcher specifically the research question at hand
what is secondary research?
when the researcher collects are lady collected data to answer a research question
what are some examples of primary research?
surveys
focus groups
interviews:
observational research:
qualitative methods:
experiment
what is consumer insight?
involves probing a depper understanding and underlying motivations for a given behaviour
