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Business Law Exam 1 > Consumer Behavior > Flashcards

Consumer Behavior Flashcards

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1
Q

Consumer Behavior

A

entails all consumer activities associated with purchase use and disposal.

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2
Q

Individual consumer

A

purchase goods to satisfy own needs or wants

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3
Q

Organizational Consumer

A

purchase goods and services for… Produce other goods, resale, help run organization

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4
Q

Purchase activities

A

consumers acquire goods, includes all activities leading up to the sale

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5
Q

Use actvities

A

describe where and when how consumption happens

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6
Q

disposal activities

A

the way consumers get rid of a product after use.

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7
Q

Emotional or Affective responses

A

reflect consumer emotions feeling moods

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8
Q

mental or cognitive responses

A

consumers thought processes opinions and beliefs, can be specific or broad

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9
Q

Behavioral responses

A

consumers over decisions and actions during the 3 activities

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10
Q

Why study consumer behavior?

A

improve business performance, influence public policy,educate the consumer

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11
Q

Marketing concept

A

idea firms should discover and satisfy customer needs in a profitable way

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12
Q

Custo er perceived value

A

customers overall assessment of the use vs cost of an object

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13
Q

customer delight

A

customer benefits exceed expectations

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14
Q

motivation research

A

applied psychoanalytical theory to behavior in-depth interviews used.

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15
Q

Behavioral science perspective

A

applies scientific method to explain and control predict consumer behavior

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16
Q

marketing science approach

A

using computer based simulations and math models

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17
Q

quantitative research methpds

A

empirical data collected

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18
Q

basic research

A

looks for general relationships b/w variables regardless of situation

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19
Q

Applied research

A

study is specific to the situation of marketer

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20
Q

Marketing research process

A

1) define the problem
2) determine the research design (exploratory, descriptive, causal)
3) design data collection methods
4) sampling
5) analyzes of results
6) recommendations

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21
Q

Focus group

A

group of 8-12 people moderator leads discussion of research question

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22
Q

Projective txhnique

A

meaningless questions that make subject say what they think

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23
Q

causal research

A

tries to identify cause and effect relationships

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24
Q

correlated

A

testable significant relationships exist b/w 2 variables

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25
Q

illusory correlation

A

believing their is correlation when there is not

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26
Q

causal

A

2 variables are correlated and one influences the other

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27
Q

Why segment market?

A

allows company to focus resources on the part they can control

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28
Q

2 main assumptions of market segmentation?

A
  • consumer preferences vary

- consumers willing to pay extra because their needs are catered to.

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29
Q

target market

A

segment a firm markets to

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30
Q

positionning

A

communication with target market w/ marketing mix variables

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31
Q

Marketing mix variables?

A

product
price
place
promotion

32
Q

Market aggregation

A

opposite of market segmentation, single product for all

33
Q

Mass marketing

A

one marketing strategy for all consumers

34
Q

differentiated segmentation

A

target several markets, strong in several markets i.e.. jeep

35
Q

niche Segmentation

A

capture large share of smaller market

36
Q

micromarketing

A

highly specialized products, custom shit

37
Q

Consumer preference heterogenity

A

not all consumers have same preferences, segmentation increases

38
Q

majority fallacy

A

focus on majority markets and not smaller ones, not always more profitable

39
Q

sales cost trade-off

A

market segmentation increases, sales increase vice versa cost also up

40
Q

cannabalism

A

products offered by same firm are similar and compete with themselves

41
Q

Position

A

place product occupies in customers mind

42
Q

pioneering brand

A

1st brand into a market, set the standard

43
Q

Premium pricing

A

price brand @ high end of range

44
Q

repositioning

A

attempts to change way customer perceives brand

45
Q

perceptual mapping

A

measures positioning of product in consumer mind maps them on graph

46
Q

Proactive strategy

A

be the first to make a product, high power

47
Q

Reactive strategy

A

make your form after the original has been made

48
Q

Reactive 5key factors

A 
potential for growth
protection for innovation
market size
competition
channel positioning
49
Q

diffusion of innovation

A

rate at which a new product spreads

50
Q

Product life cycle

A

intro: create awareness, people trying it
growth: spread WOM, brand extensions
Maturity: reduced cost focus, competition increases
decline: develop new use or die

51
Q

Brand resonance

A

refers to the consumers intense and actively loyalty to brand

52
Q

brand equity

A

value a brand gains based on goodwill w/ brand name

53
Q

Brand extensions

A

different products w/ same brand name

54
Q

Young & Rubican Brand asset valuator

A

scale to measure brand uniqueness usefulness, and brand image and esteem

55
Q

incremental theorists

A

consumers think world can change (prefer more brand extensions)

56
Q

entity theorists

A

fixed world change is impossible

57
Q

attribute loyalty

A

strong preference to specific feature

58
Q

confirmation bias

A

people find it easier to interpret info that supports them rather than against them

59
Q

sources of volume

A

where future purchases of product will come from

60
Q

Acquisition strategies

A

focus on getting new customer

61
Q

retention strategies

A

focus on keeping existing customers

62
Q

STP

A

segmentation, targeting, positioning strategy

63
Q

self concept

A

totality of consumers thoughts and feelings of themselves

64
Q

role identities

A

positions consumers occupy in society

65
Q

personal qualities

A

modes of interpersonal behavior

66
Q

self evaluation

A

measures of adequecy

67
Q

extended self

A

relationship between consumer and their possesions

68
Q

loved objects

A

derive emotions by helping resolve internal conflict

love is 2nd most common consumer word

69
Q

impression managmwnt

A

process of creating desirable images go ourselves for others

70
Q

appearance managemnt

A

controlling clothes etc

71
Q

ingrations

A

set of strategic behaviors designed to gain benefits from others

72
Q

aligning activities

A

comments attempting to realign behavior with norms

73
Q

Five factor model

A

1) outgoingness
2) agreeableness
3) emotional stability
4) conscientiousness
5) intellect

74
Q

Brand personality

A 
set of human characteristics associated with a brand
sincerity
excitement
competence
sophistication
ruggedness
75
Q

brand personificarion

A

giving non human human like traits

76
Q

brand anthropomorphism

A

giving non human human form and traits

Business Law Exam 1 (3 decks)

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