mid term Flashcards
Consumer Behavior Definition:
The study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services ideas, of experiences to satisfy needs and desires.
Role Theory;
Indentifies consumers as actors on the marketplace stage
ICOS- International consumer opinion survey.
Consumer
- A person who identifies a need or desire, makes a purchase then dispose off the product
- Many people may be involved in this sequence of events
- Purchase/ User/ Influencer
- Consumers may take theorem of organizations or groups
Market Segmentation
- Identifies groups of consumers who are similar to one another in one or more ways than devises marketing strategies that appeal to one or more groups
Demographics
- Statistics that measure observable aspect of population
- e.g Age, gender, social class, and income, race ethnicity lifestyle, and geography.
Firmographics
- Revenue of company, total asset, numbers of employees, geographical location for their business, and industry type such as retail, oil etc
Relationship marketing, building bonds with consumers
- Relationship marketing
- the strategic perspective that stresses the long- term human side of buyer seller interactions
- Database marketing
- Tracking consumers buying habits very closely, and then crafting products and message based on peoples needs and desires
Marketing impact on consumers
marketing and culture
- Popular culture, Music, sports, books celebrities and other forums of entertainment consumed by mass market
- Marketers plays a significant role in our view of the world and how we live in it .
The meaning of consumption
- people often buy products not for what they do but for what they mean.
- types of relationship a person have with a product
- self- concept attachment
- nostalgic attachment
- interdepedence and love
Consumption Include
1 intangible experiences
ideas and services in addition to tangible object.
4 concept includes Consumption activities
1 Consuming as experience
2 Integration
3 Classification
4 and play
Consuming as experience, Integration, classification, and play
- The digital revolution is one of the most signification influences on consumers behavior today.
- Electronic marketing increases convenience by breaking down the barriers of time and location.
- U-commerce
- C2C consumer to consumer created by cyberspace
- Market and consumer coexist in a complicated to way relationship.
- Marketing influences both popular culture and consumer perceptions of reality.
- Marketing has influences over consumers by making them believe something… ( In a right Way I)
Blurred Boundaries - Managers often borrow imagery from other forms of popular culture to connect with an audience.
Business Ethics
- Rules of conduct that guide actions in the market places
- The standards against which most people in the culture judge what is right and wrong and good or bad.
Notions of right or wong differs amongst people, and organizations and cultures…
e.g some cultures allows men to be married with more than one female.
Are ads and marketing necessary ?
- Yes ads is an important source of consumers information and also influences economics perspective.
Do marketer create miracle ?
no
yet, many advertisers simply have not enough power to manipulate people.
DO marketters create artificial needs ?
- Need; A basic biological motive
- Wants: one way that society has taught us that need can be satisfied
Public policy and consumerism
- Consumer efforts in the US have contributed to the establishment of federal agencies to oversee consumer related activities.
e. g Department of agriculture,
Trade commission, food and drug administration.
Environment protection agency
Culture Jamming
- A form of political and social activism which, by means of fake adverts hoax news stories, pastiches of firm;s loco’s product labels.
Green Marketing
When a firm choose to protect or enhance the natural environment.
- is by reducing wasteful packaging..
- e.g donation for charity/
