Exam 2.0 Flashcards
What are the 4 types of family structures? What do they Mean?
- Census Family
= Two people living together who are related biologically or law - Nuclear Family
= Mother, Father, & Children. Known as a ‘Traditional Family’ - Evolved Family
= A ‘Non-Traditional’ Family. Ex: Single parent - Extended Family
= Multigeneration living together
What is the traditional life cycle? What do they mean?
Bachelor Stage: Single, spending on personal items.
Newly Married: Purchases for home, appliances, and travel.
Full Nest: Parents with young children, more spending on home and child-related products.
Empty Nest: Older adults, more disposable income.
Solitary Survivor: After death of a spouse, fewer family purchases.
What aspects are changing of the Canadian household structure?
More single-person households, delayed marriage, and lower birth rates.
Increased diversity in household types (e.g., same-sex couples, blended families).
These changes affect how products are marketed (e.g., smaller household items, more targeted advertising).
What is the consumer socialization of children?
The process by which children acquire skills, knowledge, and attitudes necessary for functioning as consumers.
Mainly learned by:
- Parental Influence: Parents teach children about products, values, and how to make buying decisions.
- Peer Influence: Children are also influenced by friends, media, and advertising.
What is social class? How does it affect consumer behaviour?
A division of society based on social and economic status.
Social class affects purchasing power and preferences.
It is determined by factors like income, education, occupation, and lifestyle.
What are reference groups? What are the different types?
Groups that influence a person’s attitudes, beliefs, and behaviour.
Membership Groups: Groups to which a person already belongs (family, friends).
Aspirational Groups: Groups a person aspires to belong to (celebrities, elite organizations).
Dissociative Groups: Groups a person does not wish to be associated with.
What are brand communities?
Groups of consumers who share a set of social relationships based on their use or interest in a brand.
They can be online or offline
They create strong customer loyalty and advocacy
What are celebrity endorsers? Why do product advertisers use celebrities to endorse products?
Celebrities who promote a product, influencing consumer attitudes and behaviours.
Celebrities enhance brand credibility, increase consumer attention, and improve brand image. However, it depends on the fit between the celebrity and the product (e.g., athletes for sports gear).
What are social media influencers? How are they used in marketing?
Influencers on platforms like Instagram, TikTok, and YouTube who impact consumer behaviour through content.
- They leverage large followings to promote products.
- Micro-influencers (smaller but highly engaged audiences) are increasingly effective.
What is a Nano influencer
Nano = 1,000 - 10,000 followers
What is a Micro influencer?
Micro = 10,000 - 50,000 followers
What is a Mid-Tier influencer?
Mid-tier =50,000 - 500,000 followers
What is a Macro influencer?
Macro = 500,000 - 1,000,000 followers
What is a Mega influencer?
Mega = 1,000,000 + followers
What are opinion leaders?
Individuals who influence the opinions and behaviors of others due to their expertise or authority in a particular area.
They don’t necessarily have large followings but are trusted by their social circle.
Opinion leaders can be found in all sectors (e.g., tech experts, fashion bloggers).
