week one - studying consumer behaviour

Question 1

what is consumer behaviour

Answer 1

all the activities that individuals or groups develop when they select, purchase, use, dispose products/services/ideas/experiences to satisfy needs or desires

Question 2

characteristics of consumer behaviour

Answer 2

• it is a process
• motivated behaviour
• ‘switches on’ the individuals psychological system
• involves different roles
• varies according to the type of product

Question 3

what are the phases in the purchasing process

Answer 3

1) acquisition
2) consumption
3) disposing

Question 4

classification of products

Answer 4

1) tangibility
- tangible/intangible
2) duration
- durable/non-durable
3) others
- convenience/shopping products

Question 5

define marketing

Answer 5

delivering the value to meet the needs of a target market for profit

Question 6

what is strategic marketing

Answer 6

a systematic and ongoing analysis of the needs, to provide the information of profitable products for specific buyers, demonstrating different qualities from competitors

Question 7

what is operational marketing

Answer 7

marketing-mix strategies
- offer strategies (product/price)
- strategies to market (distribution and communication), aim to conquer selected markets

Question 8

what is marketing orientation

Answer 8

• research on consumer behaviour
• analysis of the factors affecting buyers
• market segmentation
• product positioning

Question 9

what is meant by ‘marketing-mix’

Answer 9

investigating the consumer to design the
- product strategy
- price strategy
- distribution channel (place)
- communication strategy (promotion)

Question 10

what is the basic hypothesis of the economic approach

Answer 10

complete knowledge of the needs and means to satisfy them in a rational way

Question 11

what is the purchase motivation in an economic approach

Answer 11

utility maximisation

Question 12

what are the unrealistic assumptions of utility maximisation

Answer 12

does not include the influence of psychological aspects, is unrealistic

Question 13

what are the internal variables in consumer decision making in the economic approach

Answer 13

• personality
• lifestyles
• motivation
• perception
• attitudes
• learning
• memory

Question 14

what are the external variables in consumer decision making in the economic approach

Answer 14

Micro level
- groups
- family
Macro level
- social class
- environment
- culture

Question 15

how does online purchasing different

Answer 15

• more active: prosumer
• adaptable
• analytical
• continuous feedback