Exam #1 Consumer Behavior Flashcards
What is Consumer Behavior?
Study of how individuals, groups, or organizations select, buy, use, and dispose of goods and services.
What are the key aspects of Consumer Behavior?
Psychological factors, social influences, personal factors, and the decision-making process.
What is the Social Marketing Concept?
Marketing strategy that promotes behaviors benefiting society.
Example: Anti-smoking campaigns, recycling initiatives.
What is Customer Experience (CX)?
Total interactions a customer has with a brand.
What does Customer Experience include?
Product quality, customer service, brand perception, and online & offline interactions.
Example: Apple’s seamless in-store and online experience enhances brand loyalty.
What is Customer Relationship Marketing (CRM)?
Strategy to build long-term customer relationships.
Why is Customer Relationship Marketing important?
Increases customer retention, strengthens brand loyalty, and helps businesses understand customer needs.
How does family impact purchasing decisions?
Family influences consumer choices across different life stages.
What are examples of family influence on purchasing decisions?
Parents influence children’s purchases; teens influence tech and fashion buying decisions.
Importance: Helps businesses tailor marketing messages to different family dynamics.
What is Customer Value?
Perceived benefits of a product relative to its cost.
Why is Customer Value important?
Encourages repeat purchases, builds brand loyalty, and differentiates a brand.
What is Product Positioning?
How a brand is perceived compared to competitors.
Why is Product Positioning important?
Differentiates from competitors, attracts the right audience, and influences purchase decisions.
Example: Tesla = innovative, high-tech, sustainable.
How do culture and values influence consumer behavior?
Culture influences purchasing habits and brand perceptions.
What is an example of cultural influence on marketing?
McDonald’s adapts its menu globally (e.g., Teriyaki Burger in Japan).
Importance: Avoids cultural insensitivity and creates relevant marketing messages.
What are subcultures in marketing strategy?
Distinct groups within a culture with shared interests.
What is an example of a subculture in marketing?
Vegan subculture → demand for plant-based products.
Importance: Allows targeted marketing for niche groups.
What are cultural foundations in marketing?
Understanding cultural values ensures marketing messages resonate.
Why are cultural foundations important in marketing?
Avoids miscommunication, helps brands connect with consumers, and builds brand loyalty.
What are demographics in marketing?
Statistical data on populations (age, gender, income, etc.).
Why are demographics important in marketing?
Helps identify target audiences, tailors marketing messages, and assists in market segmentation.
How do social classes impact marketing?
Social class impacts consumer behavior and brand preferences.
What is an example of social class in marketing?
Luxury brands target high-income consumers with exclusivity.
Importance: Helps in pricing strategy, determines brand messaging, and affects distribution channels.
What is the Household Life Cycle in market segmentation?
Buying behavior changes across life stages (single, married, parents, retired).
Why is the Household Life Cycle important?
Helps segment markets effectively, guides product development, and creates tailored marketing messages.
What is Social Marketing?
Marketing focused on promoting positive social behavior.
What is an example of Social Marketing?
Health, environmental, and safety campaigns.
Importance: Drives behavior change, builds goodwill for brands, and enhances corporate social responsibility (CSR).
What is Product Positioning (Recap)?
Creating a distinct image for a product in consumers’ minds.
Why is Product Positioning important (Recap)?
Differentiates from competitors, helps target the right customers, and aligns with consumer preferences.
