SPMT 370 Waltemyer Unit 1 test
Study online at https://quizlet.com/_g3qxrc
1. Course Behavior: is a dynamic process, that can involve many people, involves
many decisions, and involves consumer emotions
2. consumer behavior as a field of study: 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
3. Segmentation Types: Behavior, Demographic, Psychographic
4. Behavior segmentation type: Need-based, discount, new, and potential
5. Demographic: Age, race/ethnicity, social class/income, sex/gender
6. Psychographic: Believer, Experiencer, Innovator, Impulsive, Socialite, Wanderer
7. Touchpoint: direct contacts between the firm and a customer
8. What affects consumer behavior?: External influences, internal influences,
decision making process, outcomes and issues
9. What are the approaches to studying consumer behavior?: Description, Ex-
planatory, and Exploratory (Quantitative- survey/questionnaire Qualitative- Ethnog-
raphy, interviews, focus groups, secret shoppers)
10. What does STP stand for?: Segmentation, Targeting, Positioning
11. why is consumer behavior dynamic?: Economy, technology, and globalization
12. Consumer behavior theory: illustrates factors that shape consumption-related
behaviors and determine the value associated with consumption
13. What is consumption?: the process by which consumers use and transform
products into value
14. Value=: benefits - costs
15. Utilitarian Value: a value derived from a product or service that helps the
consumer solve problems and accomplish tasks
16. Hedonic Value: value derived from the gratification that comes from some task
17. Total value concept (TVC): practiced when companies operate with the under-
standing that products provide value in multiple ways
18. TVC: Every produts value proposition is made up of the augmented elemets,
plus the ancillary elements
19. 4 P's: Product, Price, Place, Promotion
20. Product Differentiation: creating and designing products so that customers
perceive them as different from competing products
21. product positioning: the way a product is designed to create a perception in
the mind of the consumer
22. Perceptual map: the tool used to graphically depict the positioning of competing
products
23. Blue Ocean Strategy: positioning a firm far away from competitors' positions
so that it creates an industry of its own and, at least for a time, isolates itself from
competitors
1/4
Study online at https://quizlet.com/_g3qxrc
1. Course Behavior: is a dynamic process, that can involve many people, involves
many decisions, and involves consumer emotions
2. consumer behavior as a field of study: 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
3. Segmentation Types: Behavior, Demographic, Psychographic
4. Behavior segmentation type: Need-based, discount, new, and potential
5. Demographic: Age, race/ethnicity, social class/income, sex/gender
6. Psychographic: Believer, Experiencer, Innovator, Impulsive, Socialite, Wanderer
7. Touchpoint: direct contacts between the firm and a customer
8. What affects consumer behavior?: External influences, internal influences,
decision making process, outcomes and issues
9. What are the approaches to studying consumer behavior?: Description, Ex-
planatory, and Exploratory (Quantitative- survey/questionnaire Qualitative- Ethnog-
raphy, interviews, focus groups, secret shoppers)
10. What does STP stand for?: Segmentation, Targeting, Positioning
11. why is consumer behavior dynamic?: Economy, technology, and globalization
12. Consumer behavior theory: illustrates factors that shape consumption-related
behaviors and determine the value associated with consumption
13. What is consumption?: the process by which consumers use and transform
products into value
14. Value=: benefits - costs
15. Utilitarian Value: a value derived from a product or service that helps the
consumer solve problems and accomplish tasks
16. Hedonic Value: value derived from the gratification that comes from some task
17. Total value concept (TVC): practiced when companies operate with the under-
standing that products provide value in multiple ways
18. TVC: Every produts value proposition is made up of the augmented elemets,
plus the ancillary elements
19. 4 P's: Product, Price, Place, Promotion
20. Product Differentiation: creating and designing products so that customers
perceive them as different from competing products
21. product positioning: the way a product is designed to create a perception in
the mind of the consumer
22. Perceptual map: the tool used to graphically depict the positioning of competing
products
23. Blue Ocean Strategy: positioning a firm far away from competitors' positions
so that it creates an industry of its own and, at least for a time, isolates itself from
competitors
1/4
