MKTG 322 Exam 1 - FLASHCARDS - Introduction to consumer behavior

Question 1

What are the steps of the consumer journey?

Answer 1

1. Pre-purchase: searching for products
2. Purchase
3. Post-Purchase: consumption & disposal

(Consumption may be 1 time or multiple, single or shared, and public or private)
(disposal: trash, recycle, or give away?)

Question 2

What does consumer behavior include?

Answer 2

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.

Question 3

How do consumers make decisions about people?

Answer 3

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

Question 4

How is consumer behavior more than buying?

Answer 4

Acquisition, usage, disposal

Question 5

What is aqquisition?

Answer 5

includes other ways of obtaining goods and services, such as buying, renting, leasing, trading, and sharing

Question 6

What is usage?

Answer 6

The process by which a consumer uses or consumes an offering.

Question 7

What is disposition?

Answer 7

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

Question 8

What is choice overload?

Answer 8

A large selection can grab consumers’ attention, but it can also result in fewer purchases when too much choice is paralyzing

Question 9

What is consumer behavior?

Answer 9

reflects totality of consumers decisions with respect to the acquisition, consumption and disposition of goods, services, activities and ideas by decision making units

Question 10

Why should we stufy consumer behavior?

Answer 10

-make profit
-promote prosocial behavior & well-being
-understand the human mind
-understand ourselves

Question 11

What three things intersect to create consumer behavior?

Answer 11

economics, psychology, marketing

Question 12

What are stretched spenders?

Answer 12

live paycheck to paycheck and feel anxious about their financial situation

Question 13

What are carefree spenders?

Answer 13

live paycheck to paycheck and do not feel anxious about their financial situation

Question 14

What are security seekers?

Answer 14

don’t live paycheck to paycheck, yet feel anxious about their financial situation

Question 15

What are cushioned savers?

Answer 15

don’t live paycheck to paycheck and do not feel anxious about their financial situation

Question 16

Who benefits from the study of consumer behavior?

Answer 16

• marketing managers
• policy makers/regulators
• academics
• consumers & society

Question 17

How can managers use consumer behavior?

Answer 17

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

Question 18

True or false: consumer behavior involves many people?

Answer 18

TRUE

Question 19

What are the two types of marketing research?

Answer 19

• academic: independent of specific products
• applied: specific ?’s about product/brand

Question 20

What is academic research?

Answer 20

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?

Question 21

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?

Answer 21

Applied research

Question 22

What are methods of acquisition?

Answer 22

Buying, trading, renting, bartering, gifting, stealing, finding, sharing

Question 23

True or false: consumer behavior involves emotions and coping?

Answer 23

TRUE

Question 24

What was a major takeaway from the SNOO smart sleeper experiment?

Answer 24

When caring for close others, consumers value effort over ease