S4 - Consumer behaviour

Question 1

What is consumer behaviour?

Answer 1

The set of processes that individuals or groups use when selecting, securing, using, or disposing of products, services, experiences or ideas, to satisfy their needs.

Question 2

What is the consumer decision process?

Answer 2

1. Need recognition
   - the gap between the current state and the desired state
   - two types: new need and upgraded/iterated need
2. Information search
   - sources of information: product usage/sampling, online reviews, editorial content, emails/newsletters, websites, social media, word of mouth, etc.
3. Evaluation of alternatives
   - search versus choice
   - consideration set: brands (and products) already known to the consumer as well as those that emerge for the external information search, that are evaluated before a purchase
4. Purchasing decision
   - determinant attributes: aspects of the product that differentiate it from other products and are used in decision making
   - models of decision making: compensatory models and non-compensatory models
5. Post-purchase evaluation
   - expected disconfirmation theory (satisfaction après l’achat en fonction des attentes)
   - expectation management
   - loyalty

Question 3

Where do our needs/wants come from?

Answer 3

Maslow’s hierarchy of needs
Mimetic desire

Question 4

What does the quantity of information sought depends on?

Answer 4

Intrinsic characteristics of consumer

Choice context (ease of search, time available)

Purchase risk (monetary risk, social risk, psychological risk, functional risk)

Question 5

What are some decision strategies?

Answer 5

Weighted Additive calculation
Equaling Weighting calculation
Elimination by Aspects
Majority of Confirming Dimensions
Satisficing (Minimal Thresholds) vs maximizing (effort and accuracy in choice)
Lexicographic

Question 6

What are the characteristics of decision process?

Answer 6

Level of effort and involvement (motivation)

Level of cognition versus emotion (type of decision -> hedonic versus utilitarian)

Question 7

What are some factors that can influence the decision process?

Answer 7

Internal influences
- central psychological processes
- psychographic variables

External influences
- reference groups
- subcultures
- culture

Contextual influences
- mood
- time available
- physical and social environment

Marketing mix: product, place, price, promotion

Question 8

What are the different aspects of the central psychological processes?

Answer 8

Motivation
Perception (exposure, attention and interpretation (associations))
Knowledge
Emotions
Attitudes (cognitive dissonance)

Question 9

What are the psychographic variables?

Answer 9

Identity and Self-concept
Values
Lifestyle

Question 10

Describe the external variables (who can influence the decision process)

Answer 10

Reference Groups
- Informational Influence
- Normative Influence
- Comparative Influence

Subcultures
- Generations
- Ethnic Groups
- Regional Subcultures
- Social classes

Culture

Question 11

What are the contextual or situational variables?

Answer 11

Mood
Time available
Physical and social environment