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Course Behavior - ANSWER is a dynamic process, that can involve many people, involves many
decisions, and involves consumer emotions
consumer behavior as a field of study - ANSWER study of consumers as they go about the
consumption process; the science of studying how consumers seek value in an effort to address
real needs
Segmentation Types - ANSWER Behavior, Demographic, Psychographic
Behavior segmentation type - ANSWER Need-based, discount, new, and potential
Demographic - ANSWER Age, race/ethnicity, social class/income, sex/gender
Psychographic - ANSWER Believer, Experiencer, Innovator, Impulsive, Socialite, Wanderer
Touchpoint - ANSWER direct contacts between the firm and a customer
What affects consumer behavior? - ANSWER External influences, internal influences, decision
making process, outcomes and issues
What are the approaches to studying consumer behavior? - ANSWER Description, Explanatory,
and Exploratory (Quantitative- survey/questionnaire Qualitative- Ethnography, interviews, focus
groups, secret shoppers)
What does STP stand for? - ANSWER Segmentation, Targeting, Positioning
, why is consumer behavior dynamic? - ANSWER Economy, technology, and globalization
Consumer behavior theory - ANSWER illustrates factors that shape consumption-related
behaviors and determine the value associated with consumption
What is consumption? - ANSWER the process by which consumers use and transform products
into value
Value= - ANSWER benefits - costs
Utilitarian Value - ANSWER a value derived from a product or service that helps the consumer
solve problems and accomplish tasks
Hedonic Value - ANSWER value derived from the gratification that comes from some task
Total value concept (TVC) - ANSWER practiced when companies operate with the understanding
that products provide value in multiple ways
TVC - ANSWER Every produts value proposition is made up of the augmented elemets, plus the
ancillary elements
4 P's - ANSWER Product, Price, Place, Promotion
Product Differentiation - ANSWER creating and designing products so that customers perceive
them as different from competing products
Course Behavior - ANSWER is a dynamic process, that can involve many people, involves many
decisions, and involves consumer emotions
consumer behavior as a field of study - ANSWER study of consumers as they go about the
consumption process; the science of studying how consumers seek value in an effort to address
real needs
Segmentation Types - ANSWER Behavior, Demographic, Psychographic
Behavior segmentation type - ANSWER Need-based, discount, new, and potential
Demographic - ANSWER Age, race/ethnicity, social class/income, sex/gender
Psychographic - ANSWER Believer, Experiencer, Innovator, Impulsive, Socialite, Wanderer
Touchpoint - ANSWER direct contacts between the firm and a customer
What affects consumer behavior? - ANSWER External influences, internal influences, decision
making process, outcomes and issues
What are the approaches to studying consumer behavior? - ANSWER Description, Explanatory,
and Exploratory (Quantitative- survey/questionnaire Qualitative- Ethnography, interviews, focus
groups, secret shoppers)
What does STP stand for? - ANSWER Segmentation, Targeting, Positioning
, why is consumer behavior dynamic? - ANSWER Economy, technology, and globalization
Consumer behavior theory - ANSWER illustrates factors that shape consumption-related
behaviors and determine the value associated with consumption
What is consumption? - ANSWER the process by which consumers use and transform products
into value
Value= - ANSWER benefits - costs
Utilitarian Value - ANSWER a value derived from a product or service that helps the consumer
solve problems and accomplish tasks
Hedonic Value - ANSWER value derived from the gratification that comes from some task
Total value concept (TVC) - ANSWER practiced when companies operate with the understanding
that products provide value in multiple ways
TVC - ANSWER Every produts value proposition is made up of the augmented elemets, plus the
ancillary elements
4 P's - ANSWER Product, Price, Place, Promotion
Product Differentiation - ANSWER creating and designing products so that customers perceive
them as different from competing products
