Consumer behavior
Buying, having, and being
Chapter 1
Demographics = age, gender, income, occupation category for marketers
Consumption communities = online platforms where members share opinions and
recommendations
Market segmentation strategies = targeting of a product, service or idea only to a specific
group of consumers
Evaluations are influenced by appearance, taste, texture or smell of the item
Consumer behavior = the study of the processes involved when individuals or groups select,
purchase, use or dispose of products, services, ideas or experiences to satisfy needs and
desires
Consumer’s perspective: best sources of information, stressful or pleasant? Environmental
consequences
Marketer’s perspective: cues that are superior, time pressure/ store displays, will they buy it
again
Some companies define market segments as 80/20 rule: 20 percent of users account for 80%
of the sales
Database marketing = tracks specific consumers’ buying habits closely and tailors products
and messages precisely to people’s wants and needs based on this information
User-generated content = users voice their opinions about products, brands and companies
defines web 2.0: producers to consumers in an interactive medium
Popular culture (music, movies, sports) = product and inspiration for marketers
Role theory = sociological perspective takes the view that much of consumer behavior
resembles actions in a play seek lines and products to put on a good performance
Relationships a person might have with a product
Self-concept attachment = product helps to establish user’s identity
Nostalgic attachment = serves a link with past self
Interdependence = part of user’s daily routine
Love = elicits emotional bonds of warmth, passion or strong emotion
People whose needs were satisfied were happier but more findings
Happiness: taker rather than a giver. Meaningfulness: being a giver rather than a
taker
Happy people think in present and not past or future
Higher levels of worry, stress and anxiety indicate less happiness but more
meaningfulness
, Happiness without meaning characterizes a shallow selfish life
Distinction between happy and meaningful is between needing and wanting it
Need = something a person must have to live or achieve a goal
Want = specific manifestation of a need that personal and cultural factors determines
Internet of Things = growing network of interconnected devices embedded in objects that
speak to one another autonomous vehicles, smart home
Revolution in M2M = machine to machine communication
Paradigm = a set of beliefs that guide our understanding in the world
Positivism = underlying paradigm at this point human reason is supreme and objective
truth science can discover
Interpretivism = newer paradigm our society emphasizes science and technology too
much, ignores complex social and cultural world
Pastiche = mixture of images and ideas consumption as offering a set of diverse
experiences
Consumer Culture Theory = refers to research that regards consumption from a social and
cultural point of view rather than more narrowly as an economic exchange
Important consumer trends that will impact marketing strategies:
Sharing economy = devalue of owning products but more of rent
Authenticity and personalization = individualized experiences rather than buying
mass-market products
Blurring of gender roles
Diversity and multiculturalism = racial and ethnic division will blur
Social shopping = product reviews more important
Income inequality
Healthy and ethical living = wellness, physical fitness and environmental sustainability
Simplification = more priority on experiences
Interconnection and Internet of Things
Anonymity = data hacking, cyberbullying
Chapter 2
Business ethics = rules of conduct that guide actions in the marketplace, standards of what is
right or wrong
Universal values: honesty, trustworthiness, fairness, respect, justice, integrity, concern for
others, accountability and loyalty
Consumerspace = the environment in which individuals dictate to companies the types of
products they want and how, when, where they want to learn about these products
The economics of information = perspective regards advertising as an important source of
consumer learning emphasizes economic cost of the time we spend to search for
products
Not happy about a product, three ways of action
Buying, having, and being
Chapter 1
Demographics = age, gender, income, occupation category for marketers
Consumption communities = online platforms where members share opinions and
recommendations
Market segmentation strategies = targeting of a product, service or idea only to a specific
group of consumers
Evaluations are influenced by appearance, taste, texture or smell of the item
Consumer behavior = the study of the processes involved when individuals or groups select,
purchase, use or dispose of products, services, ideas or experiences to satisfy needs and
desires
Consumer’s perspective: best sources of information, stressful or pleasant? Environmental
consequences
Marketer’s perspective: cues that are superior, time pressure/ store displays, will they buy it
again
Some companies define market segments as 80/20 rule: 20 percent of users account for 80%
of the sales
Database marketing = tracks specific consumers’ buying habits closely and tailors products
and messages precisely to people’s wants and needs based on this information
User-generated content = users voice their opinions about products, brands and companies
defines web 2.0: producers to consumers in an interactive medium
Popular culture (music, movies, sports) = product and inspiration for marketers
Role theory = sociological perspective takes the view that much of consumer behavior
resembles actions in a play seek lines and products to put on a good performance
Relationships a person might have with a product
Self-concept attachment = product helps to establish user’s identity
Nostalgic attachment = serves a link with past self
Interdependence = part of user’s daily routine
Love = elicits emotional bonds of warmth, passion or strong emotion
People whose needs were satisfied were happier but more findings
Happiness: taker rather than a giver. Meaningfulness: being a giver rather than a
taker
Happy people think in present and not past or future
Higher levels of worry, stress and anxiety indicate less happiness but more
meaningfulness
, Happiness without meaning characterizes a shallow selfish life
Distinction between happy and meaningful is between needing and wanting it
Need = something a person must have to live or achieve a goal
Want = specific manifestation of a need that personal and cultural factors determines
Internet of Things = growing network of interconnected devices embedded in objects that
speak to one another autonomous vehicles, smart home
Revolution in M2M = machine to machine communication
Paradigm = a set of beliefs that guide our understanding in the world
Positivism = underlying paradigm at this point human reason is supreme and objective
truth science can discover
Interpretivism = newer paradigm our society emphasizes science and technology too
much, ignores complex social and cultural world
Pastiche = mixture of images and ideas consumption as offering a set of diverse
experiences
Consumer Culture Theory = refers to research that regards consumption from a social and
cultural point of view rather than more narrowly as an economic exchange
Important consumer trends that will impact marketing strategies:
Sharing economy = devalue of owning products but more of rent
Authenticity and personalization = individualized experiences rather than buying
mass-market products
Blurring of gender roles
Diversity and multiculturalism = racial and ethnic division will blur
Social shopping = product reviews more important
Income inequality
Healthy and ethical living = wellness, physical fitness and environmental sustainability
Simplification = more priority on experiences
Interconnection and Internet of Things
Anonymity = data hacking, cyberbullying
Chapter 2
Business ethics = rules of conduct that guide actions in the marketplace, standards of what is
right or wrong
Universal values: honesty, trustworthiness, fairness, respect, justice, integrity, concern for
others, accountability and loyalty
Consumerspace = the environment in which individuals dictate to companies the types of
products they want and how, when, where they want to learn about these products
The economics of information = perspective regards advertising as an important source of
consumer learning emphasizes economic cost of the time we spend to search for
products
Not happy about a product, three ways of action
