Consumer Behavior Exam 1 – Mizzou
– Questions and Answers
What are demographics - -age, income, race, gender, marital status,
education (quantifiable)
- What are psychographics? - -lifestyle, activities, interests (qualitative)
- What is consumer behavior? - -Study of the processes involved when
individuals select, purchase, use, or dispose of products, services, ideas,
experiences to satisfy needs and desires
- What is the consumption process? - -how you decide that you need a
product
- What is market segmentation? - -targeting particular groups of people
with products/services (by demographics or behavior)
- Why do firms exist? - -to satisfy needs
- What are heavy users? What are light users? - -20% of users account for
80% of sales (Pareto Principle), light users use the product sparingly
- What is database marketing? - -tracking consumer habits
- What is relationship marketing? - -interacting a lot over time (sephora
bday)
- What is role theory? - -you use different products for the different roles
you play in your life
- What are consumer-brand attachments? - -reasons why you choose a
certain brand, when the product defines you (self-concept, nostalgia,
interdependence, love)
- What is the hedonic treadmill? - -a theory proposing that people stay at
about the same level of happiness regardless of what happens to them
- What are business ethics? - -rules of action that guide the marketplace
- What are the differences between needs and wants? - -need = satisfy
want = not need to satisfy
, - What is materialism? - -more likely to value possessions for status related
meanings, linking self-identity to products
- What is consumerspace and consumer powers? - -consumer space = the
power of consumers
- What is provenance? - -knowing product origin or how it was made
- What is curation? - -expert carefully selects group of products, less choice
- What are cradle to cradle products? - -product made from recyclable
materials that can be recycled, using zero new resources
- What are consumer rights? What are the types of responses? - -what you
do when you're not happy with the product
-Voice Response (appeal to the company)
-Private Response (shit talk to friends)
-Third Party Response (Twitter)
- What is social marketing? - -marketing a cause like you would market a
product (non-profit advertising)
- What is Corporate Social Responsibility? - -organizations who try to make
a positive impact on stakeholders
- What is Cause Marketing? - -a for-profit company takes up a cause it
aligns with
- What are market access issues? - -(our ability to find and purchase good
and services)
Disability
Food Deserts
Literacy (Media Literacy, Functionally Illiterate)
- What is sustainability? - -meeting the needs of the present without
compromising the ability of future generations to meet their own needs
- What is green marketing? - -marketing efforts to produce, promote, and
reclaim environmentally sensitive products (greenwashing)
- What is consumer theft and fraud? - -Shrinkage (shoplifting and employee
theft)
Serial Wardrobers (buy and then return)
Counterfeiting (making fakes)
– Questions and Answers
What are demographics - -age, income, race, gender, marital status,
education (quantifiable)
- What are psychographics? - -lifestyle, activities, interests (qualitative)
- What is consumer behavior? - -Study of the processes involved when
individuals select, purchase, use, or dispose of products, services, ideas,
experiences to satisfy needs and desires
- What is the consumption process? - -how you decide that you need a
product
- What is market segmentation? - -targeting particular groups of people
with products/services (by demographics or behavior)
- Why do firms exist? - -to satisfy needs
- What are heavy users? What are light users? - -20% of users account for
80% of sales (Pareto Principle), light users use the product sparingly
- What is database marketing? - -tracking consumer habits
- What is relationship marketing? - -interacting a lot over time (sephora
bday)
- What is role theory? - -you use different products for the different roles
you play in your life
- What are consumer-brand attachments? - -reasons why you choose a
certain brand, when the product defines you (self-concept, nostalgia,
interdependence, love)
- What is the hedonic treadmill? - -a theory proposing that people stay at
about the same level of happiness regardless of what happens to them
- What are business ethics? - -rules of action that guide the marketplace
- What are the differences between needs and wants? - -need = satisfy
want = not need to satisfy
, - What is materialism? - -more likely to value possessions for status related
meanings, linking self-identity to products
- What is consumerspace and consumer powers? - -consumer space = the
power of consumers
- What is provenance? - -knowing product origin or how it was made
- What is curation? - -expert carefully selects group of products, less choice
- What are cradle to cradle products? - -product made from recyclable
materials that can be recycled, using zero new resources
- What are consumer rights? What are the types of responses? - -what you
do when you're not happy with the product
-Voice Response (appeal to the company)
-Private Response (shit talk to friends)
-Third Party Response (Twitter)
- What is social marketing? - -marketing a cause like you would market a
product (non-profit advertising)
- What is Corporate Social Responsibility? - -organizations who try to make
a positive impact on stakeholders
- What is Cause Marketing? - -a for-profit company takes up a cause it
aligns with
- What are market access issues? - -(our ability to find and purchase good
and services)
Disability
Food Deserts
Literacy (Media Literacy, Functionally Illiterate)
- What is sustainability? - -meeting the needs of the present without
compromising the ability of future generations to meet their own needs
- What is green marketing? - -marketing efforts to produce, promote, and
reclaim environmentally sensitive products (greenwashing)
- What is consumer theft and fraud? - -Shrinkage (shoplifting and employee
theft)
Serial Wardrobers (buy and then return)
Counterfeiting (making fakes)
