Buyer Behavior
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| Marketing | meeting the needs of consumers
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| Consumer behavior | the set of value seeking activities that take place as people go about addressing realized needs (bang for buck)
Consumer relationship management is #1 important value in a company
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| Consumption | Process by which goods, services, or ideas are used and transformed into value
Consumption process ends when the thing is no longer holds value (thrown away)
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| How are consumers treated? | competitions drives competition. Ex) DMV vs fine dining restaurant
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| Consumer orientation | customer is king
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| Market orientation | all departments work to meet goal
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| Relationship marketing | performance
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| touchpoints | direct contact with company
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| Why study CB? | informs business decisions. input business marketing strategy, force that shapes society, input to making responsible decisions as a consumer
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| Resource Advantage theory | explains why companies fail/succeed. The company goes about obtaining resources from consumers in return for the value the company's resources create. The more info you have about consumers, the better decisions you can make
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| Myopic | looking at a business as a product based company. myopic view defines the business in terms of products, not the value consumers receive. Ex) kodak "sells memories"
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| Undifferentiated marketing | one product for all segments
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| Differentiated Marketing | different products for different segments
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| Niche Marketing | one product for only one segment
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| Consumer Value Framework (CVF) | represents consumer behavior theory illustrating factors that shape consumption-related behaviors and ultimately determine the value associated with consumption
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| CVF | 1. internal influence
2. external influence
3. consumption process *
4. types of value
5. Relationship quality (CRM) *
- helps us understand how consumers value the products
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| Internal influences: Psychology | Cognition- the way we think
Affect- the way we feel
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| Internal Influence: Personality | Character traits- need for uniqueness
lifestyles- how you live Ex) city vs country
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| Cognition | the thinking or mental process that go on as we process and store things that can become knowledge
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| Affect | refers to the feelings experienced during consumption activities or associated with specific objects
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| Personality of the Consumer | individual differences include things like personality and lifestyles
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| Interpersonal Influences: Social Environment | family is #1 influence. friends are next
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| Interpersonal influences: Situational influences | time- (ex. coffee in the morning)
place- environment (ex. targets lighting)
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| The Value Equation | Value = what you get - what you want.
Price does not equal value
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| Quality | meeting your needs of the consumer
ex) Civic vs BMW, only needed for transportations, so civic is better quality
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| Utilitarian Value | Functionality (companies want to master both functionality and hedonic)
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| Hedonic Value | Emotional/Experimental
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| Business strategy: 1. Corporate Strategy | customer orientation (customer is king)
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| Business strategy: 2. Marketing strategy | how do we create value to consumers?
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| Business strategy: 3. Tactics | 4 P's of marketing
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| Total Value Concept | practiced when companies operate with the understanding that products provide value in multiple ways. Every product's value is made up of basic benefits, and the augmented product and "feel" benefit
ex) Starbucks sells coffee, food, merch, and atmosphere
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| Value co-creation | the realization that s consumer is necessary and must pay a part in order to produce value. Consumer must contribute to maximize vale of the product. Company must educate and inform about their products
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| Market segmentation | separation of a market into groups based on different demand curves associated with each group
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| market segmentations | demographics, geographics (easiest)
psychographics (II)
behavorial (best way to market products, most important but most difficult
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| Product Differentiation | a marketplace condition in which consumers do not view all competing products as identical to one another
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| Perceptual map | companies work to position their products in the minds of the consumer (product positioning)
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| Authenticity | fake products still hold value based on consumer beliefs
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| Learning | a change in behavior resulting from the interaction between a person and a stimulus. Learning always begins with a need (intentional of unintentional) unintentional is through experience.
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| Perception | a consumer's awareness and interpretation of reality. perception is difficult for marketers (they want similar perception)
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| Perception VS Reality | the context changes our perception (ex. eating a full plate at restaurant vs at buffet).
Perception is more important than reality, it leads to action
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| Perceptions | 1. person to person
2. within (state of our condition)
3. context (environment)
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| Elements of Consumer Perception: Exposure | to present something in front of you
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| Elements of Consumer Perception: Attention | to just to get you to know the ad exists
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| Elements of Consumer Perception: Comprehension | getting you to understand the ad
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| Sensing | deals with 5 senses (see, smell, hear, taste, feel)
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| Organizing | recognizing something, define what "it" is
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| Reaction | from your organization
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| Placing | placing it in memory
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| Retireve | retrieve info from inside our head
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| Organization Reactions: Assimilation | we can easily identify the product category
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| Organization Reactions: Accommodation | putting effort into identifying product
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| Organization Reactions: Contrast | when you can't identify what it is
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| Selective Perception: Selective exposure | we expose ourselves with things that are congruent with our beliefs
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| Selective Perception: Selective attention | focus on what you want to see
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| Selective Perception: Selective distortion | misinterpret info to what we believe in
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| Just noticeable difference (JND) | How much can you change without your consumers noticing.Represents how much stronger one stimulus has to be relative to another so that someone can notice that the two are not the same
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| JND Marketing implications | Price- changing from 1.99 to 2.09
Quantity- 20 slices to 19 slices of bread
Quality- different quality clothes
Add-on purchases- buying $300 gps alone vs getting gps into $30,000 car
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| Just meaningful difference (JMD) | How much change to make in order for consumers to notice it is an improvement. Represents the smallest amount of change in a stimulus that would influence consumer consumption and choice.
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| Implicit Memory | unintentional learning. You don't try to learn, but you learn from experience
pre attentive effects, mere exposure.
Implicit is always stronger than explicit
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| Explicit memory | intentional learning
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| Mere exposure effect | learning through lots of exposure
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| Attention | the purposeful allocation of cognitive capacity toward understanding some stimulus
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| involuntary attention | beyond the conscious control of the consumer and occurs as the result of a surprising or novel stimuli
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| Orientation reflex | a natural reflex that occurs as a response to threat
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| Ways to enhance attention | Intensity (brighter colors,bolder),
Movement (enhances attention),
Size (increasing or decreasing size),
Contrast (presenting something different from expected),
Surprise (gaining attention),
Involvement (get people involved)
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| Classical Conditioning | A change in behavior that occurs simply through associating some stimulus (unconditional) with another stimulus (conditional) that naturally causes a reaction. All about associations (ex. get a hot car, get a hot girl)
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| Instrumental conditioning (IC) | behavior is conditioned through positive or negative reinforcement.
Discriminative stimuli- Rewarding system
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| IC | positive: rewarding good behavior (discount for next purchase)
negative: punishment for bad behavior (extra fees for not paying bill on time)
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| Comprehension | Refers to interpretation or understanding that a consumer develops about some attended stimulus in order to assign meaning. understand what the person/message is saying
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| Comprehension Depends on | 1. Message (physical characteristics, words, who)
2. Message receiver (Who (you), attention)
3. environment (various)
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| Physical Characteristics of the message | Color- different colors mean different moods.
Font- masculine vs feminine fonts
Numbers- odd numbers associate with masculine;even with feminine
Spacing- three 30sec ads VS one 90sec ads
Exposure- big font, big sound
attention- small font,small sound
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| Simplicity Ads | for low involvement consumers
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| Complexity Ads | for high involvement consumers
8always think about consumers before the company
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| Congruent messages | Loreal in shampoo magazine. Increases exposure
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| Incongruent messages | Loreal in People magazine. increases attention
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| The figure (ads) | focal point of the ad. focus on figure
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| The ground (ads) | background, compliment the figure
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| Message source factors | Likeability, Attractiveness, Trustworthiness, Expertise
(highly involved consumers like expertise & trustworthiness) (low involved consumers like attractiveness & like ability)
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| message Receiver characteristics | intelligence/ability, prior knowledge, involvement, familiarity/habituation, expectation, physical limits, brain dominance
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| Environmental Characteristics | Information intensity, framing, timing
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| Framing/ Prospect theroy | "losses loom greater than gains" the negative connotation is greater than the positive connotation even if it is the same
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| Multiple store theory of memory | Views the memory process as utilizing 3 different storage areas within the human brain
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| Multiple store theory of memory: Sensory | sensory- preattentive (no focus)
echoic-auditory.
iconic- visuals.
haptic- sense of touch
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| Multiple store theory of memory: Workbench (short term memory) | focus required, limited capacity, limiting duration, coding takes place
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| Multiple store theory of memory: Long-term memory | unlimited capacity, unlimited duration, semantic meaning, decoding
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| Workbench Memory | Where bits of information are worked on to create knowledge.
Mental tagging- bits of information from the past that help you remember
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| Mental Processes Assisting Learning: Dual Coding | make associations on distinct features
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| Mental Processes Assisting Learning: Meaningful coding | using pre-existing knowledge to remember
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| Mental Processes Assisting Learning: Chunking | separating info to remember easier (phone numbers_
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| Mental Processes Assisting Learning: Repetition | repeating over and over again to remember
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| Long-term memory | a repository for all information that a person has encountered
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| Rumination | how a consumer remembers a memory, positively or negatively
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| Exemplar | a concept within a schema that is the single best representative of some category. comparing with #1 example of that product category
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| Prototype | characteristics more associated with a concept. using attributes to identify something
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| Motivations | The inner reasons behind human action as consumers are driven to address real needs. human motivations are oriented toward two key groups of behavior
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| Homeostasis | the body naturally reacts in a way so as to remain a constant, normal blood stream. (being hungry, thirsty, cold)
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| Self-improvement | changing one's current state to a level that is more ideal. going towards an ideal state
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| Utilitarian Motivations | choosing convenient place to eat, going gift shopping out of sense of obligation to give a gift
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| Hedonic Motivations | going to a new trendy restaurant, giving a gift to enjoy the joy the recipient experiences when opening the gift
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| Consumer Involvement | Represents the degree of personal relevance a consumer finds in pursuing value from a given consumption act
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| Consumer Involvement Types | product(I'm involved in product category), shopping(highly involved in shopping), situational(a product becomes very important suddenly), enduring(ongoing interest in product category), emotional(strong emotional attachment to a product)
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| Emotions | Psychobiological reactions to appraisals
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| Psychobiological | because they involve psychological processing and physical responses
(ex. sad=cry, anger=fight, happy=smile)
emotions are both psychological and biological
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| Visceral responses | certain feeling states are tied to behavior in a very direct way
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| Cognitive Appraisal Theory | describes how specific types of thoughts can serve as a basis for specific emotions
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| Cognitive appraisals: Anticipation | fear, anxiety, hope
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| Cognitive appraisals: Agency (judgement) | envy, happy, admire, love, pride
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| Cognitive appraisals Equity (fairness) | anger, disappointment, frustration
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| Cognitive appraisals: Outcomes (evaluations of expectations) | relief, regret, satisfaction
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| Affect | how you feel right now (feeling great)
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| Emotion | description of your affect (happy)
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| Mood | positive,negative, or neutral
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| Mood definition | a transient (temporary and changing) and general affective state
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| Affect | represents the feelings a consumer has about a particular product or activity
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| Autonomic measures | a neurological way to measure brain activity, non feasible
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| Self-report measures | self assessing, filling a survey
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| Emotional involvement | you have an emotional interest, how much you are involved.
Flow- temporary,highly charged, emotional involvement
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| Emotional Expressiveness | how much do i express?
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| Emotional intelligence | how good are you at controlling your emotion
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| Emotional Intelligence: self-control | ability to control ones emotion
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| Emotional Intelligence: emotional empathy | ability to read and understand others' emotions
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| Emotional Intelligence: Upbeat | ability to maintain a generally upbeat and optimistic outlook
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| Emotional Intelligence: Productive | ability to turn emotions into value through better problem solving
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| Channeling | people hide emotions and channel it into positive productivity
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| Schema-based Affect | emotions become stored as a part of the meaning for a category. certain emotions are tied to certain product category. encourage positive and change the negative
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| Self conscious emotions | specific emotions that result from some evaluation or reflection of one's own behavior including pride, shame guilt, and embarrassment. we feel most self-conscious emotions most on first date
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| Emotional Contagion | represents the extent to which an emotional display by one person influences the emotional state of a bystander (laughing because someone around you laughs)
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| Emotional labor | workers have to overtly manage their own emotional displays as part of the requirements of the job (ex. ER, service industry, clowns)
people with high emotional jobs are usually more depressed.
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| Personality | Totality of thoughts, emotions, intentions, and behaviors that a person exhibits consistently as he or she adapts to his or her environment.
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| Personality qualities | your overall personality is a combination of man stable characteristics or traits. Unique to an individual.
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| Aggregation approach | the measurement of specific behaviors occurs over time rather than relying on a single measure of behavior at one point in time
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| Psychoanalytic Approach: Id | focuses on pleasure seeking principle
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| Psychoanalytic Approach: Superego | motivates behavior that matches societal norms; against Id
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| Psychoanalytic Approach: Ego | balances Id and superego.
Reality principle- satisfy Id within constraint of society
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| Traits | a distinguishable characteristic that describes one's tendency to act in a relatively consistent manner
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| Coupon deal proneness | tendency to seek deals using coupons/discounts
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| need for uniqueness | individuals want/need to be unique from others
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| value consciousness | important concept on consumer behavior, it underlies tendencies to perform certain behaviors
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| materialism | deals with importance of material things in a person's life (older people less materialistic
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| Possessiveness | tendency to retain control of possessions
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| Nongenerosity | unwillingness to share
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| Need for cognition | the degree to which consumers engaging in information processing that is challenging
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| innovativeness | how much consumer is open to new products and services
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| Hierarchical Approaches | Begin with the assumption that personality traits exist at varying levels of abstraction
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| Specific traits | tendencies to behave in very well defined situations. specific to the situation (ex bargaining proneness)
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| Broad traits | behaviors that are performed across many different situations (ex. extroversion) we can be extroverted in certain situations, but not in others
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| Brand Personality Dimensions | Sincerity, excitement, competence, sophisticated, ruggedness
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| Personality and Brand Relationships: Love and passion | consumer has such strong feelings about a brand they "love" it
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| Personality and Brand Relationships: Commitment | Harley Davidson owners are committed to their bikes
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| Personality and Brand Relationships: Intimacy | we need intimacy and passion. can be directly tied to s specific brand (perfume)
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| Personality and Brand Relationships: Self connection | correct match between a consumer's personality and a perceived brand leads
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| Personality and Brand Relationships: Interdependence | customers being reminded, "like a good neighbor state farm is there"
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| Personality and Brand Relationships: Brand partner quality | brands perceived to be high quality contribute to consumer brand relationships
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| Lifestyles | refers to the ways of consumers live and spend their time and money. What we do, what we like, and what we think determines our lifestyle. where we live geographically has a big impact on our lifestyle
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| Self concept | refers to the totality of thoughts and feelings that an individual has about him or herself. How a person defines or gives meaning to their own identity
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| Actual self | how a consumer currently perceives him/herself
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| ideal self | how individuals would like to perceive themselves
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| social self | beliefs that a consumer has about how others see them
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| ideal social self | ideal image of what others perceive of the consumer themselves
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| possible self | presents an image of what the consumer could become
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| extended self | represents various possessions that a consumer owns that help them form self perceptions
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| Self Esteem | refers to the positivity of an individuals self-concept. Negativity is associated with low self-esteem. people do things to reshape self esteem (piercings, tattoos)
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| Self-Congruency Theory | Proposes that much of consumer behavior can be explained by the congruence (match) between a consumer's self-concept and the image of typical users of a focal product
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| Self-Congruency Theory (2) | marketers use congruency theory by segmenting markets into groups of consumers who perceive high self concept congruence with their product-user image ("Built Ford Tough", tough contraction workers need a tough truck
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