Consumer Behavior Exam 1:
chapters 1-5|Questions and
Answers
For some purposes, marketers find it useful to categorize customers in terms
of age, gender, income, or occupation. These are descriptive characteristics
of a population. - -Demographics
- An organization targets its product, service, or idea only to specific groups
of consumers rather than to everybody. - -market segmentation
- 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 Behavior
- A transaction in which two or more organizations or people give and
receive something of value, is an integral part of marketing - -Exchange
- The issues that influence the consumer before, during, and after a
purchase - -Consumption Process
- A person who identifies a need or desire, makes a purchase, and disposes
of the product during the three stages of consumption process - -Consumer
- Why do organizations exist? - -To satisfy needs.
- Heavy vs. Light users - -Heavy- faithful customers
light- inconsistent customers
- Pareto Principle (80/20) - -20% Of users account for 80% of sales.
-the 20% being heavy users; 20% of products are worth 80% of sales
- When marketers track specific customers buying habits very closely, and
crafting products and messages tailored precisely to people's needs and
wants based on this information - -Database marketing
- Building relationships between brands and customers that will last a
lifetime; interact with customers on regular basis and give them solid
reasons to maintain the bond. - -Relationship marketing
-ex: happy birthday messages
, - Much of consumer behavior resembles actions in a play, as consumers are
acting out a variety of different roles which sometimes alter their
consumption decisions - -Role Theory
- Consumer-brand attachments - -- self-concept: product helps establish
users identity (class ring, mizzou apparel)
-Nostalgic: link with a past self (trophies)
-Interdependence: part of user's daily routine (iphone)
-Love: product elicits emotional bonds of warmth, passion (naming your car)
- Modernism, emphasizes that the human reason is supreme and that there
is a single, objective truth. Celebrates the functions of objects, technology,
and refers to the world as a rational, ordered place. - -Positivism
- Views of Positivism - --assumes society has objective social facts
-society exerts influence on its members
-quantitative data, objectory
- Post-modernism, questions these assumptions and argues that science and
technology are emphasized too much. World is culturally and socially
complex, importance on symbolic, subjective experience; meanings
constructed on one's individual perspectives.
-qualitative data, subjective - -Interpretivism
- Rules of conduct that guide actions in the marketplace; these are the
standard against which most people in a culture judge what is right and
wrong, good or bad. - -Business ethics
- Universal values (business ethics) include - -honesty, trustworthiness,
fairness, respect, justice, integrity, concern for others, accountability and
loyalty
- Basic biological motive - -Need
- Represents one way society has been taught to satisfy the need - -Want
- The importance people attach to worldly possessions. - -Materialism
- Materialists are more likely to value possessions for: - -status and
appearance
- Shoppers are willing to spend more on an item when they know exactly
where it came from, and they're assured that "real people" have thoughtfully
selected the things from which they choose. - -Provenance
chapters 1-5|Questions and
Answers
For some purposes, marketers find it useful to categorize customers in terms
of age, gender, income, or occupation. These are descriptive characteristics
of a population. - -Demographics
- An organization targets its product, service, or idea only to specific groups
of consumers rather than to everybody. - -market segmentation
- 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 Behavior
- A transaction in which two or more organizations or people give and
receive something of value, is an integral part of marketing - -Exchange
- The issues that influence the consumer before, during, and after a
purchase - -Consumption Process
- A person who identifies a need or desire, makes a purchase, and disposes
of the product during the three stages of consumption process - -Consumer
- Why do organizations exist? - -To satisfy needs.
- Heavy vs. Light users - -Heavy- faithful customers
light- inconsistent customers
- Pareto Principle (80/20) - -20% Of users account for 80% of sales.
-the 20% being heavy users; 20% of products are worth 80% of sales
- When marketers track specific customers buying habits very closely, and
crafting products and messages tailored precisely to people's needs and
wants based on this information - -Database marketing
- Building relationships between brands and customers that will last a
lifetime; interact with customers on regular basis and give them solid
reasons to maintain the bond. - -Relationship marketing
-ex: happy birthday messages
, - Much of consumer behavior resembles actions in a play, as consumers are
acting out a variety of different roles which sometimes alter their
consumption decisions - -Role Theory
- Consumer-brand attachments - -- self-concept: product helps establish
users identity (class ring, mizzou apparel)
-Nostalgic: link with a past self (trophies)
-Interdependence: part of user's daily routine (iphone)
-Love: product elicits emotional bonds of warmth, passion (naming your car)
- Modernism, emphasizes that the human reason is supreme and that there
is a single, objective truth. Celebrates the functions of objects, technology,
and refers to the world as a rational, ordered place. - -Positivism
- Views of Positivism - --assumes society has objective social facts
-society exerts influence on its members
-quantitative data, objectory
- Post-modernism, questions these assumptions and argues that science and
technology are emphasized too much. World is culturally and socially
complex, importance on symbolic, subjective experience; meanings
constructed on one's individual perspectives.
-qualitative data, subjective - -Interpretivism
- Rules of conduct that guide actions in the marketplace; these are the
standard against which most people in a culture judge what is right and
wrong, good or bad. - -Business ethics
- Universal values (business ethics) include - -honesty, trustworthiness,
fairness, respect, justice, integrity, concern for others, accountability and
loyalty
- Basic biological motive - -Need
- Represents one way society has been taught to satisfy the need - -Want
- The importance people attach to worldly possessions. - -Materialism
- Materialists are more likely to value possessions for: - -status and
appearance
- Shoppers are willing to spend more on an item when they know exactly
where it came from, and they're assured that "real people" have thoughtfully
selected the things from which they choose. - -Provenance
