MKTG 322 Exam 1 - FLASHCARDS - Introduction to consumer behavior
What are the steps of the consumer journey?
- Pre-purchase: searching for products
- Purchase
- Post-Purchase: consumption & disposal
(Consumption may be 1 time or multiple, single or shared, and public or private)
(disposal: trash, recycle, or give away?)
What does consumer behavior include?
Consumer behavior means more than just the way that a person buys tangible products such as bath soap and automobiles. It also includes consumers’ use of services, activities, experiences, and ideas such as going to the dentist, attending a concert, taking a trip, and donating to UNICEF.
How do consumers make decisions about people?
Consumers make decisions about people, such as voting for politicians, reading books by certain authors, streaming movies or TV shows starring certain actors, and attending concerts featuring favorite bands
How is consumer behavior more than buying?
Acquisition, usage, disposal
What is aqquisition?
includes other ways of obtaining goods and services, such as buying, renting, leasing, trading, and sharing
What is usage?
The process by which a consumer uses or consumes an offering.
What is disposition?
The process by which a consumer discards an offering. Consumers dispose of old products they acquired in a number of ways, oftentimes through recycling or online
What is choice overload?
A large selection can grab consumers’ attention, but it can also result in fewer purchases when too much choice is paralyzing
What is consumer behavior?
reflects totality of consumers decisions with respect to the acquisition, consumption and disposition of goods, services, activities and ideas by decision making units
Why should we stufy consumer behavior?
-make profit
-promote prosocial behavior & well-being
-understand the human mind
-understand ourselves
What three things intersect to create consumer behavior?
economics, psychology, marketing
What are stretched spenders?
live paycheck to paycheck and feel anxious about their financial situation
What are carefree spenders?
live paycheck to paycheck and do not feel anxious about their financial situation
What are security seekers?
don’t live paycheck to paycheck, yet feel anxious about their financial situation
What are cushioned savers?
don’t live paycheck to paycheck and do not feel anxious about their financial situation
Who benefits from the study of consumer behavior?
- marketing managers
- policy makers/regulators
- academics
- consumers & society
How can managers use consumer behavior?
a) To develop customer-oriented strategies
b) To select the target market
c) To develop products
d) To position products
e) To make promotion decisions
f) To make pricing decisions
g) To make distribution decisions
True or false: consumer behavior involves many people?
TRUE
What are the two types of marketing research?
- academic: independent of specific products
- applied: specific ?’s about product/brand
What is academic research?
Research conducted at universities, by gov agencies, in “think tanks”
Questions like: what affects perception of taste? How can attitudes be changed? How do peer groups exert influence?
What is research conducted by firm
-specific questions about product/brand?
Questions like, do ppl like this product? do they understand what it is? when might they buy it?
Applied research
What are methods of acquisition?
Buying, trading, renting, bartering, gifting, stealing, finding, sharing
True or false: consumer behavior involves emotions and coping?
TRUE
What was a major takeaway from the SNOO smart sleeper experiment?
When caring for close others, consumers value effort over ease
