Consumer Behavior exam 1
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| 3 latest developments that are affecting Marketing | 1. influence of the web 2. mass customization 3. technologies are converged
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| 3 greatest areas of influence of web marketing | B to B, Advertising, Retailing
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| What is the marketing Concept | the idea that we copy ideas from successful people
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| 4 points of the marketing concept | 1. focus on meeting customer needs 2. mkt must be integrated with other elements of the firm 3. long term profitability through customer satisfaction 4. focus on markets
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| Key assumption of the marketing concept | managers must determine the needs and wants of the target market.
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| to achieve full profit potential from each customer--- | every customer must be viewed as a relationship rather than a transaction. some potential customers are undesirable
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| Busines Concepts (4) | product concept, production concept, mkt concept, selling concept
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| product concept (ex) | focuses on better products with better features (apple)
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| production concept (ex) | focuses on producing products at lowest possible prices (walmart)
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| marketing concept (ex) | focusing on meeting customer needs (microsoft)
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| selling concept (ex) | focuses on seeling customers regardless of their needs (insurance agencies)
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| 5 perspectives for studying consumer behavior | Pshychological, Economic, Sociological, Situational, Anthropological
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| Fundamental idea of consumer behavior | consumers do not buy products, consumers really buy the benefits of products
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| the total product concept | Basic core of functional benefits, Accesory benefits, pshycological benefits, time cost or time benefits
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| 4 areas of consumer behavior related to public policy | Fairness, Equity, Safety, Economic and social welfare
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| Consumer Behavior research | the special function that links an organization to its consumers through the gathering of information
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| Qualitative and quantitative research are _________________ | Complimentary
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| Quantitative Research | findings can be generalized to larger populations
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| Qualitative Research | primarily used to genereate new ideas for products or promotional campaigns
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| 3 kinds of research | exploratory, descriptive, casual
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| Exploratory Research | (qualitative) used when not sure what questions to ask (focus groups)
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| Descriptive research | (quantitative) used to generalie to a larger population (customer satisfaction studies/ surveys)
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| Casual research | (Quantitative) used when managers have a good understanding of the problem and how to solve the problem
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| the most common typer of mkt research is __________ _______ | Customer satisfaction
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| Semantic differential scales | have bipolar adjectives (i.e. hot/cold high/low)
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| likert scales | most popular attitude scales (strongly agree----strongly disagree)
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| Validity issues | study gathers the appropriate information
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| reliability issues | consistency in measurment
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| primary research | sample must be representative to generalize to population
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| secondary research | used from research for a different problem
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| open ended vs. close ended scales | q and a given as choices vs. q given with no choices- people say what they want
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| marketing segmentation | the process of dividing a heterogeneous market into more homogeneous segments
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| segments should be: | accessible, identifiable, sufficient size, stable or growing
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| Methods of Segmenting markets (7) | Demographic, Geographic, Benefits Desired, Psychographics, Hybrid, Behavioral Segmentation, Inter-market Segmentation
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| 4 types of segmenting strategies | Concentrated Marketing, Differentiated Marketing, Mass Marketing, Custom Marketing
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| Concentrated marketing | focus on only one market segment
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| Differentiated marketing | select two or more market segments...develop marketing for each segment
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| mass marketing | offer one product to everyone
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| custom marketing | create a product for each customer
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| localized segmentation | treat each country as a separate market and identify segments within each country
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| inter-market segmentation | assume that there are like minded individuals in all countries and focus only on those customers
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| Motivation | the driving force within individuals that impels them to action
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| 6 motives that stimulate purchase | Optimize satisfaction, Prevent future problems, Escape a problem, Resolve a conflict, Maintain satisfaction, Bring variety into their life
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| Two models of motivation | Maslow's heiarchy of needs (lowest level of unmet needs motivates behavior), mcClellands theory of learned needs
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| Maslows heiarchy of needs | Psychological needs. Safety needs. Social needs. Ego needs. Self actualization.
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| McClellands theory of learned needs | Needs for achievement. Needs for affiliation. Needs for power.
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| Perception | select, organize, and interpret information. (selective perception)
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| influences on perception | culture, family, demographics, psychographics
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| we perceive through... | hearing, vision, touch, taste and smell
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| perception of risk | perception that there could be negative consequences from purchasing the product
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| perception of quality theories (2) | Category theory. Gestalt theory.
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| Types of Perceived Risk | Financial risk. Performance risk. Social risk. Physical risk. Psychological risk.
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| Risk reduction strategies of consumers | repurchase the smae brand. seek information. purchase national brands with a rep of high quality. purchase from stores that offer a money back gurantee. purchase the highest price brand
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| perception of physical goods cues | intrinsic cues. extrinsic cues.
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| Intrinsic Cues | Characteristics of the product (size, flavor, color, speed of a computer)
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| Extrinsic Cues | Characteristics that are associated with the product but are not physically part of the product
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| Services have 5 dimensions of quality | tangibles. reliability. responsiveness. assurance. empathy (ex. people skills)
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| Webers Law of perception | the stronger the initial stimulus the greater the second stimulus must be to exceed the jnd (just noticeable difference)
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| Pesonality | personality is a consistent, enduring element of an individual, but personality can change
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| Pesonality develops very early in life. between the ages of ___ and ___ | 2 and 5
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| self concept theory (4 points) | Actual Self Image, Ideal Self image, Social self image, Ideal social self image
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| actual self image | what you really think of yourself
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| ideal social self image | life of the party or quiet
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| 3 elements of an individuals sub consious (FREUD) | ID, Super ego, Ego
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| ID | Focuses on immediate gratification (pleasure)
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| Super ego | focuses on what is moral as defined by the family and culture (concerned with others)
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| Ego | mediates the desires of the id and superego
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| Karen Horneys 3 types of personalities | Compliant, Aggressive, Detatched
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| Compliant | individual that buys things to make other people happy
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| Aggressive | tries to control purchase behavior of those around them
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| detatched | doesn't care what other people think. (not influenced by aggressive people
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| PERSONALITY is ____________________________ | a combination of traits
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| ethnocentrism | affects consumers wilingness to purchase foreign made products
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| need for cognition | some consumers have a craving for or enjoy thinking
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| dogmatism | continuing to believe in something that facts have proved wrong
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| Q: when a firm uses 2 methods of segmenting a market | A. Hybrid segmentation
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| Q: the image of the product in the mind of the consumer, known as | A. positioning
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| Q. Professional observers, pose as customers in order to evaluate the quality of a firms services, known as | A. mystery shoppers
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| Q. any marketing strategy, 3 step process includes | A. market segmentation, targeting, and positioning
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| Q. consumer ethoncentrims will affect.. | A. the consumers liklihood to accept or reject foreign made products.
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Created by:
garrettcline
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