Consumer Behavior

Question 1

Product, Placement, Price, Promotion

Answer 1

The 4 Ps of marketing

Question 2

We are almost always __ even if it is the clothing we are wearing. We are planning, enjoying the memory, using, acquiring, thinking about buying.

Answer 2

Are we always consuming? What is consuming

Question 3

___ ____: The study of individuals, groups, organizations, and the processes they use to select, secure, use, and dispose of precepts, services, experiences, or ideas to satisfy needs and the impact that they have on the consumer and society.

Answer 3

Consumer Behavior

Question 4

___ ___ (2): The mental and physical activities undertaken to acquire and consume the products and services so as to fulfill needs and wants

Answer 4

Consumer behavior (2)

Question 5

___ ___ (3) // consumer activities associated with the purchase, use, and disposal of goods and services// consumer’s emotional, mental, and behavioral responses to marketing activities (flow chart, all connected)

Answer 5

Consumer behavior (3) flowchart

Question 6

_ _ as a field of study. Motivation Research, Behavioral Science, and Interpretivism

Answer 6

Consumer Behavior as a field of study

Question 7

Consumer Behavior as a field of study. 1/3. In-depth interviews, focus on consumer motivations, use qualitative to inform quantitative

Answer 7

Motivation Research

Question 8

Consumer Behavior as a field of study. 1/3. Scientific method, quantitative data and generalizable, experimental vs marketing science

Answer 8

Behavioral Science

Question 9

Consumer Behavior as a field of study. 1/3. Qualitative and subjective data, detailed but not generalized

Answer 9

Interpretivism

Question 10

1. Improve business performance (anticipate/satisfy consumer needs with marketing strategy)
2. Influence public policy (anticipate/satisfy public needs and increase society’s well being)
3. Help consumers make better decisions via social marketing (promote pos behaviors or decrease neg behaviors)

Answer 10

Why study Consumer Behavior?

Question 11

Key aspects of _ _. Important downstream applications used by marketers. ** shift from “selling orientation” to the marketing concept** Not focused on producation/selling consumers, instead asses and satisfy the consumer’s needs and wants, benefitting long term interests in society.

Answer 11

Key aspects of Consumer Behavior

Question 12

Needs vs Wants. ____. Discomforting human condition, such as hunger, or thirst. Can’t be convinced of these. Must be perceived by the individual (subjective), is mental or physical

Answer 12

Needs

Question 13

Needs vs Wants. ____. Desire for specific object or project. I am hungry.. I ___ food, I ___ chipotle. Not equal to desire, it is the choice made.

Answer 13

Wants

Question 14

Three essentials of CB. ___. Interchanging between two parties (marketer and consumer) where each receives from the other something of more value, gives up something of lesser value.

Answer 14

Exchange

Question 15

Three essentials of CB. ___. Time is money. Time, knowledge, energy, and social capital (up against a dollar bill)

Answer 15

Resources

Question 16

Three essentials of CB. ___. Sum total of net benefits we receive from an activity or exchange. Core goal underlying all exchanges. Bar of expectations: satisfied if the product meets or exceeds expectations. I deserve to be treated 7/10, partner treats you 8/10 satisfied vs I deserve 10/10, expectations won’t be met. Conveyed when a need

Answer 16

Value

Question 17

to create consumer value (by seducing customers and eliciting desire) not $$ immediately, but customer satisfaction (repeat buys, build relationship)

Answer 17

Ultimate Goal of MarketingTM

Question 18

Types of value (1/4) Physical/tangible outcomes of a product (will my laptop run microsoft word?)

Answer 18

Type of value: Utility/functionality

Question 19

Types of value (1/4) maintaining harmonious relationships with others, fitting in, presenting a good image (bean boots at the U of R)

Answer 19

Type of value: Social

Question 20

Types of value (1/4) construction and nutrance of self concepts/identity, Toms because philanthropic, Dior because sophisticated

Answer 20

Type of value: Ego/Identity

Question 21

Types of value (1/4) Creating positive moots and eliminating boredom/fatigue (watching a movie, massage)

Answer 21

Type of value: Recreation/hedonism

Question 22

Value vs Delight. ___. (customer-percieved) a consumer’s overall assessment of the utility of a product, based on perception vs costs. Meeting expectations

Answer 22

Value

Question 23

Value vs Delight. ___. (consumer) a step beyond satisfaction by exceeding consumers’ expected net gains, unanticipated. Heidi’s trash can, Need to keep exceeding expectations long term

Answer 23

Delight

Question 24

One of the most powerful marketing tools, fear of being judged by our peers.. what we purchase/personal appearance, led to billions of dollars spent

Answer 24

Culture of status and shame

Question 25

Does marketing cause needs? Y/N. Customers only need the basics to survive but they create new products, therefore creating needs. Manipulative advertising creates needs, brainwashing consumers like puppeteers pulling strings.

Answer 25

Yes - Marketing creates needless consumption argument

Question 26

Does marketing cause needs? Y/N. We all have the same basic needs, advertising proposes a product as a possible want for a need. Consumers don’t trust marketers, get info from other sources. We are cognizant and wary of marketing.

Answer 26

No - marketing does not cause needless consumption argument

Question 27

Marketing is about ____ a ___ ___. It is up to the consumer to decide what the best decision is for their needs. Influenced by many factors, not just marketing. Marketing asks you to reconsider a product, invents new solutions of to meet consumer needs..

Answer 27

Marketing is about satisfying a consumer need.

Question 28

Case study - cell phones. First cellphone was a brick, no good if you don’t have service, but solved a problem you didn’t know you had, you can be accessible anywhere

Answer 28

Marketing is about satisfying a consumer need.

Question 29

___ vs ___ consumption. If it still works, you don’t need to replace it (grandparent mentality). We know how to make washing machines last for 30 years, we don’t know how to make the consumer want the same washing machine for 30 years. We are trained to throw out a product after a short duration

Answer 29

Long term vs short term consumption.