Exam 1 Flashcards
What’s the appeal of crocs?
-Comfort (esp for those aging)
-Lightweight
-Good boating shoes
-Less expensive than surgical clogs
-Easier to clean than other shoes (dishwasher)
What was crocs slogan?
“ugly can be beautiful”
-displayed are photos of pug and child with braces
How did crocs gain popularity?
-Celebrity sponsors: Post Malone, Bad Bunny, Justin Beiber & Balenciaga
-Authenticity campaign: “come as you are”
-Customization through gibets
What are the four Ps?
PRODUCT
The goods and/or services offered by a company to its customers
PRICE
The amount of money paid by customers to purchase the product.
PLACE (or distribution)
The activities that make the product available to consumers.
PROMOTION
The activities that communicate the product’s features and benefits and persuade customers to purchase the product.
What is consumer behavior?
-Consumer activities associated with the purchase,
use, and disposal of goods and services.
-Consumers’ emotional, mental, and behavioral
responses to marketing activities.
Why study consumer behavior?
To help consumers make better decisions via
Social Marketing
Three main components in all CB
1) Exchange
2) Resources
3) Value
Planned obsolescence
policy of producing consumer goods that rapidly
become obsolete and so require replacing, achieved
by frequent changes in design, termination of the
supply of spare parts, and the use of nondurable
materials
-the goal is to separate obsolescence from actual usefulness; linking it instead to consumer perception
Exploratory research
Focus group
8-12 participants run by a moderator who guides
group discussion of topic using a flexible script.
Participants are carefully screened so that group
members fulfill key criteria (age, gender, income etc).
Used for a variety of situations: e.g. brainstorming for
ideas, generating hypotheses, assessing new products,
evaluating promotional campaigns.
Exploratory research
Projective tests
Ambiguous stimuli that allows
participants to project their
underlying
thoughts/beliefs/feelings
Can take the form of wordassociation,
completion,
construction or expression
tests
Descriptive research
Longitudinal studies
A group of participant (panel) is followed over the
course of time and data is collected systematically
True panel: repeated measurements of the same
variables over time. I.e. scanner data
Omnibus panel: varied measurements of different
variables over time
Limitations: expensive, attrition
Surveys
A structured set of questions that is administered to
participants (phone, mail, email, face-to-face via mall
intercepts)
Useful for collecting specific information from large
groups of people
Cost varies per method of administration
Limitations: Bias can occur via question wording,
interviewer bias, or social desirability
Know choosing a primary research method chart
know it!
Aggregation marketing
Undifferentiated/Aggregation/Mass marketing: a
single product is developed for all groups; individual
differences are ignored
Market Segmentation
Portion of a larger market that differs somewhat from
the larger market
Dividing mass market into subsets of consumers who
share common needs, characteristics or behaviors in
order to construct and effect marketing strategy to
target them.
Tailoring specific messages/goods a segment that the
company can satisfy in order to maximize efficiency &
profits
Bases of Segmentation: Demographic
Describing a population in terms of its size,
distribution and structure
Influence consumption both directly and indirectly by
affecting other attributes of individuals (e.g. values,
decisions styles)
Based on vital population statistics
Age, Gender, Ethnicity
Income, Education, Occupation
Marital Status, Family Life Cycle
