Mrkting Flashcards
– is defined as
the behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.
Consumer behaviour
focuses on how individuals make decisions to spend their available resources on consumption-related items.
Consumer behavior
Consumer Behaviour describe two different kinds of consuming entities:
buys goods and services for his or her own use, for the use of the household, or as a gift for a friend. i) Products are bought for final use by individuals (referred to as end users or ultimate consumers).
Personal consumer -
Consumer Behaviour describe two different kinds of consuming entities:
- includes profit and not-for-profit businesses, government agencies, and institutions, all of which must buy products, equipment, and services in order to run their organizations.
Organizational Consumer
The field of consumer behavior is rooted in the ____a business orientation that evolved in the 1950s through several alternative approaches toward doing business referred to, respectively, as the ____, and the ____
marketing concept,
production concept
selling concept.
- the idea of satisfying the needs of the customer by means of the product as a solution to the customer’s problem or needs. the notion of using a product to fulfill a customer’s needs in order to address their problems or needs. The marketing idea marks a significant shift in how businesses are oriented today and lays the groundwork for gaining a competitive edge.
Marketing Concept
- assumes that consumers will buy the product that offers them the highest quality, the best performance, and the most features. The company to strive constantly to improve the quality of its product and to add new features that are technically feasible.
Product Concept
- is centered on the belief that you must convince a customer to buy a product through aggressive marketing of the benefits of the product or service because it isn’t a necessity.
Selling Concept
THREE STRATEGIC FRAMEWORK
- This is the process of grouping potential customers into segments or groups based on shared demands and how they react to marketing initiatives. It helps businesses to target various customer groups who view the entire worth of particular goods and services in a variety of ways.
Market Segment
THREE STRATEGIC FRAMEWORK
- is the selection of one or more of the segments identified for the company to pursue.
Market Targeting
THREE STRATEGIC FRAMEWORK
- refers to the development of a distinct image for the product or service in the mind of the consumer, an image that will differentiate the offering from competing ones and squarely communicate to the target audience that the particular product or service will fulfill their needs better than competing brands.
Market Positioning
Three drivers of successful relationships between marketers and consumers:
- is best defined as how much a product or service is worth to a customer. It’s a measure of all the costs and benefits associated with a product or service. Examples include price, quality, and what the product or service can do for that particular person.
Customer Value
Three drivers of successful relationships between marketers and consumers:
- is the individual’s perception of the performance of the product or service in relation to his or her expectations.
Customer Satisfaction
Three drivers of successful relationships between marketers and consumers:
– is the opinion, feelings, and belief customers have about the brand.
Customer Perception
TYPES OF CUSTOMERS
—completely satisfied customers who keep purchasing
Loyalists
TYPES OF CUSTOMERS
—those who feel neutral or merely satisfied and are likely to stop doing business with the company
Defectors
TYPES OF CUSTOMERS
—those whose experiences exceed their expectations and who provide very positive word of mouth about the company to others
Apostles
TYPES OF CUSTOMERS
—those who have had negative experiences with the company and who spread negative word of mouth
Terrorists
TYPES OF CUSTOMERS
—unhappy customers who stay with the company because of no choice (or other reasons)
Hostages
TYPES OF CUSTOMERS
– are satisfied customers but they switch between brands. No loyalty and they are usually price sensitive, looking for bargains and best offers, buying on impulse, pursuing fashion trends. They don’t feel any attachment to particular brand.
Mercenaries
Three categories of factors that influence consumer behavior:
an individual’s interests and opinions can be influenced by demographics (age, gender, culture, etc.).
Personal factors:
Three categories of factors that influence consumer behavior:
an individual’s response to a marketing message will depend on their perceptions and attitudes.
Psychological factors:
Three categories of factors that influence consumer behavior:
family, friends, education level, social media, income, etc..
Social factors:
Types of Consumer Behaviour
- This type of behavior is encountered when consumers are buying an expensive, infrequently bought product. They are highly involved in the purchase process and consumers’ research before committing to a high-value investment.
Complex Buying behaviour
Types of Consumer Behaviour
– reducing buyer Behaviour - The consumer is highly involved in the purchase process but has difficulties determining the differences between brands. It can occur when the consumer worries that they will regret their choice. Meaning is that customer hold contradictory belief that is referring how to act, think and make decisions.
Dissonance
Types of Consumer Behaviour
- purchases are characterized by the consumer having very little involvement in the product or brand category. Imagine grocery shopping: you go to the store and buy your preferred type of bread. You are exhibiting a_____, not strong brand loyalty.
Habitual Buying Behaviour
Types of Consumer Behaviour
- consumer purchases a different product not because they weren’t satisfied with the previous one, but because they seek variety. Like when you are trying out new shower gel scents.
Variety Seeking Behavior
– Every action has its corresponding reasons whether the behavior is good or bad, it definitely has a purpose.
Rational Behavior
– is an act that have ambiguous objective or meaning like an insane person.
Irrational behavior
– appears when an act is done with individual’s volition or decision such as writing a poem or composing a song / buying an interested items (books, cellphones, dress etc.)
Voluntary Behavior
– Psychology is not only involved in an observable behavior but also deals with the working of mind and body such as “neural impulses” that are automatically sending signals to the brain and body such as breathing, reflexes, and digestion
Involuntary behavior
– these are electrical signals that occur along dendrites of the nerve cell and create action potential.
Neural impulse
– is a single, temporary emotional conditions that experience in a specific situation.
Emotional State
– this is relating to interest, attitude and values relating to learning the information in conformity of perception and attention.
cognitive needs knowledge and understanding, curiosity, exploration, and predictability.
Cognitive Goals
MOTIONAL STATE ARE COMBINATION OF THE FOLLOWING:
– this is learning about sympathetic nervous system that response when threatened. If consumer were encounter some treat from his environment “Panic Buying” then emotional feelings will command an immediate action (this would make heart race and increase in respiration rate) (James-Lange)
Physiological Arousal
MOTIONAL STATE ARE COMBINATION OF THE FOLLOWING:
– means informed by experiences, backgrounds, and cultures. It is also considered as psychological response. (James – Lange)
Psychological Appraisal
MOTIONAL STATE ARE COMBINATION OF THE FOLLOWING:
– feelings, tastes and opinions of an individual’s perception for its existence. (Oxford Language
Subjective experiences
It can be described as the intersection of goal-directed activity, past sensory information, and cognitive processes. It makes an effort to separate the pertinent information that will contribute to the communication process and help consumers learn about the product and make informed decisions about their purchases from this previous and stored knowledge.
Working memory
is the study of thought, learning, and mental organization that incorporates elements of psychology, psychiatry, linguistics, philosophy, law, economics, and politics. It also refers to human actions aimed at better understanding human behavior in relation to society and its impact on society as a whole
Cognitive science
is distinguished by its emphasis on the idea that how and what people think causes emotional arousal, and that certain thoughts and beliefs lead to disturbed emotions and behavior while others lead to healthy emotions and adaptive behavior in response to their environment.
Cognitive theory
