Exam 1 Flashcards
What is Consumer Behavior?
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 wants.
Consumer Behavior is…
an ongoing process
What makes up and influences a consumer?
- demographics
- cultures and sub cultures
- consumption communities
(these all inform market segmentation strategies)
The consumption process
- prepurchase
- purchase
- post purchase
consumer def
the person who identities a need or a desire, makes a purchase, and disposes of the product
Why is Market Segmentation Important?
marketer can only satisfy needs to the extent that they understand the people or organization that will use the product or service
How can you segment the market?
- by use
- by demographics
relationship marketing
when the company makes and effort to interact with customers on a regular basis so customers have a reason to maintain a bond with the company overtime.
database marketing
tracks buying habits, then creates products and messages tailored to wants/needs
Marketing Impacts Customers - the Role Theory!
Role theory - much of consumer behavior resembles actions in a play
Relationships with Products
- self concept attachment
- nostalgic attachment
- Interdependence
- Love
Positivism (2 perspectives)
there’s an objective truth science can discover
interpretivism (2 perspectives)
the importance of symbolic, and subjective experience, we construct our own meanings based on experience
Consumer Culture Theory (CCT)
- it looks at consumption from a social and cultural point of view
- how culture affects identity, social interactions, social affiliations and how consumers behave in the market place.
need vs. want
need is a basic biological motive
wants represent one way that society has taught us to satisfy that need
Materialism: Provenance v. Curation
Prov: pay more for an item when we know where it comes from
cur: use of an expert who chooses pieces to include in collection of products
three options when dissatisfied with a product
- voice response
- private response
- 3rd party response
what is market access?
a consumers ability to find and purchase goods and services
JFK’s Declaration of Consumer Rights
- right to safety
- right to be informed
- right to redress
- right to choice
Transformative Consumer Research
promotes research projects that include the goal of helping people or bringing some type of social change
sensation def
the immediate response of our sensory receptors to basic stimuli
perception def
the process by which individuals select, organize, and interpret these sensations
