MKTG 322 - Exam 1 - Consumer Behavior
Questions and Answers High Level 2023
Consumer Behavior - -The totality of consumer decisions with respect to the acquisition,
consumption, and disposal of goods, services, time, and ideas by human decision-making unit
-Customer Journey - -1. Pre-purchase: searching for products
2. Purchase
3. Post-Purchase: consumption & disposal
(Consumption may be 1 time or multiple, single or shared, and public or private)
(disposal: trash, recycle, or give away?)
-Consumer Journey Steps Expanded - -1. Search
2. Purchase
3. Consumption
4. Disposal
-Types of things to consume - -Products, services, time, experiences, ideas (school), etc.
-Purchasing includes... - -emotions
-Why study consumer behavior? - --make profit
-promote prosocial behavior & well-being
-understand the human mind
-understand ourselves
-Who benefits from the study of consumer behavior? - -- mkt managers
- policy makers/regulators
- academics
- consumers & society
-What three things intersect to create consumer behavior - -economics, psychology, marketing
-Two types of mkting research - -- academic: independent of specific products
- applied: specific ?'s about product/brand
-Academic Research - -Research conducted at universities, by gov agencies, in "think tanks"
Questions like: what affects perception of taste? How can attitudes be changed? How do peer
groups exert influence?
, -Choice Overload - -difficulty making a decision in the face of many alternatives
-Jam example: lg selection can grab attention, but can result in fewer purchases
-Applied Research - -Research conducted by firm
-specific questions about product/brand
Questions like, do ppl like this product? do they understand what it is? when might they buy it?
-SNOO Smart Sleeper & Jam Examples - -benefits of applied research/experiments is scientific
evidence of why I should do a mkting strategy
*one ad focuses on ease to parent, the other focuses on baby & parent helper
*Choice overload/paralysis
-SNOO takeaway - -When caring for close others, consumers value effort over ease
-In class we will learn from - -- experiments (field/lab)
- Surveys & interviews
- Observational studies
- Analysis of archival data
-Why do we do experiments? - -- To learn (measure real consumer behavior)
- To discover new info
- to test existing theory (ask hypothesis)
- to test for a cause & effect relationship
-What is an experiment? - -a scientific procedure undertaken to test a hypothesis
-must have random assignment!
-What is the only way to establish causality? - -Experiments (nothing else lets us do this)
-Experimental Revolution - -Businesses are using experiments
*Ex: booking.com
-Experiment Benefits - -1. Causality
2. Provide proof-of-concept
3. Easier/cheap to run often (then analyze, implement, & repeat)
4. Fun
-Experiment Requirements - -1. Outcome Variable(s): what trying to change
2. Experimental Variable(s): how create change?
3. Hypothesis: a testable prediction
4. Participants: random assignment & 50+
-Gym membership application was an example of... - -a properly conducted experiment
Questions and Answers High Level 2023
Consumer Behavior - -The totality of consumer decisions with respect to the acquisition,
consumption, and disposal of goods, services, time, and ideas by human decision-making unit
-Customer Journey - -1. Pre-purchase: searching for products
2. Purchase
3. Post-Purchase: consumption & disposal
(Consumption may be 1 time or multiple, single or shared, and public or private)
(disposal: trash, recycle, or give away?)
-Consumer Journey Steps Expanded - -1. Search
2. Purchase
3. Consumption
4. Disposal
-Types of things to consume - -Products, services, time, experiences, ideas (school), etc.
-Purchasing includes... - -emotions
-Why study consumer behavior? - --make profit
-promote prosocial behavior & well-being
-understand the human mind
-understand ourselves
-Who benefits from the study of consumer behavior? - -- mkt managers
- policy makers/regulators
- academics
- consumers & society
-What three things intersect to create consumer behavior - -economics, psychology, marketing
-Two types of mkting research - -- academic: independent of specific products
- applied: specific ?'s about product/brand
-Academic Research - -Research conducted at universities, by gov agencies, in "think tanks"
Questions like: what affects perception of taste? How can attitudes be changed? How do peer
groups exert influence?
, -Choice Overload - -difficulty making a decision in the face of many alternatives
-Jam example: lg selection can grab attention, but can result in fewer purchases
-Applied Research - -Research conducted by firm
-specific questions about product/brand
Questions like, do ppl like this product? do they understand what it is? when might they buy it?
-SNOO Smart Sleeper & Jam Examples - -benefits of applied research/experiments is scientific
evidence of why I should do a mkting strategy
*one ad focuses on ease to parent, the other focuses on baby & parent helper
*Choice overload/paralysis
-SNOO takeaway - -When caring for close others, consumers value effort over ease
-In class we will learn from - -- experiments (field/lab)
- Surveys & interviews
- Observational studies
- Analysis of archival data
-Why do we do experiments? - -- To learn (measure real consumer behavior)
- To discover new info
- to test existing theory (ask hypothesis)
- to test for a cause & effect relationship
-What is an experiment? - -a scientific procedure undertaken to test a hypothesis
-must have random assignment!
-What is the only way to establish causality? - -Experiments (nothing else lets us do this)
-Experimental Revolution - -Businesses are using experiments
*Ex: booking.com
-Experiment Benefits - -1. Causality
2. Provide proof-of-concept
3. Easier/cheap to run often (then analyze, implement, & repeat)
4. Fun
-Experiment Requirements - -1. Outcome Variable(s): what trying to change
2. Experimental Variable(s): how create change?
3. Hypothesis: a testable prediction
4. Participants: random assignment & 50+
-Gym membership application was an example of... - -a properly conducted experiment
