MKTG 4204 Consumer Behavior Final Exam notes
CB Study Guide for Final Exam Test is comprehensive but mostly from Chapters 9-16 Why is value important to shoppers? Value is what consumers ultimately pursue, because valuable actions address motivations that manifest themselves in needs and desires. Value captures how much gratification a consumer receives from consumption. Compare hedonic and utilitarian value. o Utilitarian Value- Derived from a product that helps the consumer solve problems and accomplish tasks that are a part of being a consumer. (a means to an end) o Hedonic Value: The immediate gratification that comes from experiencing some activity. Emotional and subjective. Hard to explain objectively. Know the steps in the basic consumption process o NeedWantexchangeCost and BenefitsReactionValue Be familiar with the Consumer Value Framework Chart on page 24 Lifetime value Roughly defined, LTV is the projected revenue that a customer will generate during their lifetime. What is brand personality? Refers to human characteristics that can be associated with a brand. Competence, excitement, ruggedness, sincerity, and sophisticated. What is consumer culture? Cultural norms? Cultural sanctions? Consumer Culture: Represents the commonly held societal beliefs that define what is socially gratifying within a specific society. Cultural Norms: Refers to a rule that specifies the appropriate behavior in a given situation within a specific culture. Most, but not all, cultural norms are unwritten and simply understood by members of a cultural group
Schule, Studium & Fach
- Hochschule
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Virginia Tech
- Kurs
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MKTG 4204
Dokument Information
- Hochgeladen auf
- 18. dezember 2023
- Anzahl der Seiten
- 11
- geschrieben in
- 2023/2024
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- Prüfung
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mktg 4204 consumer behavior final exam notes