MKT 305 Exam queries and answers
rated A+
How we divide up consumers - ANS✅✅-*Demographics-* descriptive characteristics of a
population:
-Age
-Gender
-Family structure
-Social class and income
-Race and ethnicity
-Geography
*Lifestyle (psychographics):*
-The way we feel about ourselves
-The things we value
-The things we do in our spare time (hobbies and interests)
*Benefits sought-* marketers can segment markets based on the various benefits that their
consumers are seeking.
-Ex: Crest has 25 different kinds of toothpaste (some people look for whitening, some people have
tooth sensitivity, toothpaste for kids that taste better)
*Behavior/usage-* segmenting the consumer market based on how often or how heavily consumers
use a specific product.
-80/20 rule- 20% of users account for 80% of sales.
-Because of this rule, many companies should target their most loyal customers.
-Or maybe target light users and try and transfer them over to heavy users.
Consumer behavior as a process - ANS✅✅*Consumer behavior-* 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.
-Marketers look at the entire consumption process, which includes the issues that influence
consumers, before, during, and after a purchase.
-*Individuals and groups-* the process is not just about individuals, a lot of what is studied is about
groups of consumers (their interaction with one another, with companies, as communities, in the
social networking space).
, -*Purchase-* not just about purchase, it's about selecting products, the path to purchase, making
the decision to buy, how consumers use the products, how they integrate them into their lives as
they've purchased them.
-*Disposal-* studying why people stop using products, why consumers switch away from certain
brands; want to understand the stopping behavior.
-*Products-* not just about products; it's also about experiences, services, ideas, and how those
move through the culture.
Types of relationships people might have with products - ANS✅✅*Self-concept attachment-*
consumers buy brands or products to express their identities to others.
-Ex: buying a hybrid vehicle to show people that you are environmentally conscious.
*Nostalgic attachment-* the product serves as a link with a past self.
*Interdependence-* idea that brands are embedded into our everyday patterns and routines.
-Ex: anything you have in your morning routine; standard set of things that you pack to get ready for
the day.
*Love-* the product elicits emotional bonds of warmth, passion, or other strong emotions.
Research methods (basic tools and methods) - ANS✅✅*Qualitative data (interpretivistic):*
-Ethnography- hanging out in consumer spaces; going to their homes; observe them; watch them
interact with products.
-In-depth interviews
-Focus groups
-Projective techniques- building collages, asking consumers to show you things in their home and
give them prompts to describe things.
*Quantitative data (positivistic):*
-Surveys
-Data mining (ex: scanner data)
-Experiments
*Other data that could be either qualitative or quantitative:*
-Observation
-Video-mining
-Online listening
-Opinion panels
-Cell phone tracking
rated A+
How we divide up consumers - ANS✅✅-*Demographics-* descriptive characteristics of a
population:
-Age
-Gender
-Family structure
-Social class and income
-Race and ethnicity
-Geography
*Lifestyle (psychographics):*
-The way we feel about ourselves
-The things we value
-The things we do in our spare time (hobbies and interests)
*Benefits sought-* marketers can segment markets based on the various benefits that their
consumers are seeking.
-Ex: Crest has 25 different kinds of toothpaste (some people look for whitening, some people have
tooth sensitivity, toothpaste for kids that taste better)
*Behavior/usage-* segmenting the consumer market based on how often or how heavily consumers
use a specific product.
-80/20 rule- 20% of users account for 80% of sales.
-Because of this rule, many companies should target their most loyal customers.
-Or maybe target light users and try and transfer them over to heavy users.
Consumer behavior as a process - ANS✅✅*Consumer behavior-* 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.
-Marketers look at the entire consumption process, which includes the issues that influence
consumers, before, during, and after a purchase.
-*Individuals and groups-* the process is not just about individuals, a lot of what is studied is about
groups of consumers (their interaction with one another, with companies, as communities, in the
social networking space).
, -*Purchase-* not just about purchase, it's about selecting products, the path to purchase, making
the decision to buy, how consumers use the products, how they integrate them into their lives as
they've purchased them.
-*Disposal-* studying why people stop using products, why consumers switch away from certain
brands; want to understand the stopping behavior.
-*Products-* not just about products; it's also about experiences, services, ideas, and how those
move through the culture.
Types of relationships people might have with products - ANS✅✅*Self-concept attachment-*
consumers buy brands or products to express their identities to others.
-Ex: buying a hybrid vehicle to show people that you are environmentally conscious.
*Nostalgic attachment-* the product serves as a link with a past self.
*Interdependence-* idea that brands are embedded into our everyday patterns and routines.
-Ex: anything you have in your morning routine; standard set of things that you pack to get ready for
the day.
*Love-* the product elicits emotional bonds of warmth, passion, or other strong emotions.
Research methods (basic tools and methods) - ANS✅✅*Qualitative data (interpretivistic):*
-Ethnography- hanging out in consumer spaces; going to their homes; observe them; watch them
interact with products.
-In-depth interviews
-Focus groups
-Projective techniques- building collages, asking consumers to show you things in their home and
give them prompts to describe things.
*Quantitative data (positivistic):*
-Surveys
-Data mining (ex: scanner data)
-Experiments
*Other data that could be either qualitative or quantitative:*
-Observation
-Video-mining
-Online listening
-Opinion panels
-Cell phone tracking
