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Consumer Behavior T1
| Question | Answer |
|---|---|
| “Four key aspects regarding consumer behavior” | 1. Language: 2. Demographics 3. Values 4. Nonverbal Communications |
| Applications of consumer behavior | Marketing Strategy Regulatory Policy Social Marketing Informed Individuals |
| Regulatory Policy: | Various regulatory bodies exist to develop, interpret, and/or implement policies designed to protect and aid consumers. |
| Social Marketing: | the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole. |
| Customer value | the difference between all the benefits derived from a total product and all the costs of acquiring those benefits. |
| Components of marketing strategy and consumer behavior (Fig 1-1) but also the discussion in the remainder of the chapter | Outcomes Consumer Decision Process Marketing Strategy Market Analysis |
| Outcomes | • Individual • Firm • Society |
| Consumer Decision Process | • Problem recognition • Information search • Alternative evaluation • Purchase • Use • Evaluation |
| Marketing Strategy | • Identify product-related need sets • Group customers with similar need sets • Describe each group • Select attractive segment(s) to target |
| Market Analysis | • Company • Competitors • Conditions • Consumers |
| Market segment | a portion of a larger market whose needs differ from the larger market. |
| Market Analysis Components | The Consumers The Company The Competitors The Conditions |
| The Consumers | • Know what your consumer wants in a product |
| The Company | • IBM testing the household consumer market, failing, then sticking with the high-end businesses. |
| The Competitors | • Company needs to know the capabilities of the competition. |
| The Conditions | • NAFTA • Apple’s success with iPod and iPhone. |
| Customer satisfaction | It is more profitable to maintain existing customers than to replace them with new customers. This hinges on customer satisfaction. |
| The Consumer Decision Process | External Influences Internal Influences |
| External influences | • Culture • Subculture • Demographics • Social Status • Reference Groups • Family • Marketing Activities |
| Internal Influences | • Perception • Learning • Memory • Motives • Personality • Emotions • Attitudes |
| Marketing mix | product, price, communications, distribution, and services provided to the target market. |
| SWOT Analysis | Tool for identifying and organizing internal strengths & weaknesses; external opportunities & threats. |
| Random | It’s 5X more expensive to go out and get new customers than it is to keep current customers satisfied. |
| Values | widely held beliefs that affirm what is desirable. |
| Norms | specify ranges of appropriate behavior |
| Sanctions | Penalties for violating norms. |
| Several Aspects of Culture (4) | Culture is comprehensive concept Culture is aquired. The complexity of modern societies is such that culture seldom provides detailed prescriptions for appropriate behavior. The nature of cultural influences is such that we are seldom aware of them. |
| three categories of values | Other-oriented Environment-oriented Self-oriented |
| Other-oriented values | Society’s view of relationships between people. |
| Environmental-oriented values | Society’s view of relationships with environment |
| Self-Oriented Values | Objectives/approaches to life society finds desirable. |
| Factors of Nonverbal Communication | Time Space Symbol Friendship Agreements Things Etiquette |
| Time | • Polychronic view of time: Guyana starts at sunset. USA starts at 6 sharp. • NAFTA: goods flow between Canada, Mexico, and America. • Monochronic view: starts on time. • Meaning of time: non-awkward. Silence = awkward. |
| Space | • Size of an office= higher rank • In Japan, desks lined up. High rank desk facing everyone else. • Personal space: uncomfortable if invaded. |
| Symbol | • Something that represents something else. • Polo: higher class • Flipping someone off=bad. “OK” sign=middle finger |
| Friendship | More disposable |
| Agreements | • Wal Mart must pay certain price. Frienze haggle for leather. |
| Things | • Polo logo • Cross: religious. Christian • Eagle: freedom • Engagement ring. |
| Etiquette | • Business cards • Burping after a meal. |
| Demographics | describe a population in terms of its size, structure, and distribution |
| Purchasing Power Parity | describe a population in terms of its size, structure, and distribution |
| Examples of Self-Oriented Values | • Religious/Secular • Sensual Gratification/Abstinence • Postponed/Immediate Gratification • Hard Work/Lesiure • Material |
| Example of Environment-Oriented Values | • Cleanliness • Tradition/Change • Risk Taking/Security • Problem Solving/Fatalistic • Admire/ Overcome Nature • Performance/Status |
| Examples of Other-Oriented Values | • Individual/Collective • Diversity/Uniformity • Limited/Extended Family • Youth/Age • Competition/Cooperation • Masculine/Feminine |
| Green Marketing | Production or promotion of environmentally sensitive products |
| What hinders Green Marketing | Expense Mis-leading claims Caught between a rock and a hard place |
| Social marketing | PSAs. Benefitting society, not a company. “Don’t text and drive.” |
| Cause related marketing | When you connect a company name with a cause. You goals help your cause. |
| Responses to Cause Related Marketing | Skeptic Balancer Attribution-orient Socially concerned |
| Skeptic | doubts effectiveness and sincerity. |
| Balancer | “Yea, they do good, but I’m not going to let it affect my buying decision.” Yoplait Yogurt |
| Attribution-Orient | A bit skeptical, but gives benefit of doubt |
| Socially concerned | brand loyal because of drive to support specific cause. |
| Gender roles | the behaviors considered appropriate for males and females in a given society. |
| Ascribed roles | an attribute over which the individual has little or no control. |
| Achievement roles | performance criteria over which the individual has some degree of control. |
| Traditional | A marriage in which the husband assumes the responsibility for providing for the family and the wife runs the house and takes care of children. |
| Modern | A marriage in which husband and wife share responsibilities. Both work, and they share homemaking and childcare responsibilities. |
| 4 significant female segments | Traditional housewife Trapped housewife Trapped working woman Career working woman |
| Traditional housewife. | Married. Stays home. Family centered. Seeks satisfaction/meaning from household, family maintenance, volunteer activities. Experiences pressure to work outside the home & is aware of lost income opp. Feels supported by family & is content with role. |
| Trapped housewife | Generally married. Would prefer to work, but stays home b/c of children, lack of outside opps, or fam pressure. Seeks satis & meaning outside home. Doesn't enjoy most household chores. Has mixed feelings a/b current status& is concerned a/b lost opp. |
| Trapped working woman | both. Would stay home, but works b/c of economic necessity/social/family press. Not derive satis or mean from employ. Enjoy most household acts but is angered by lack of time. Feels conflict a/b her role, if kids are home. Proud: fin support to fam. |
| Career Working Woman | Married/single. Prefers to work. Derives satis & meaning from employment rather than home & family. Experiences some conflict over role if younger kids are home but is generally content. Views home maintenance as a necessary evil. Feels pressed for time. |
| Demographics: | describes a population in terms of its size, distribution, and structure. |
| Social Class System: | A hierarchical division of a society into relatively distinct and homogenous groups with respect to attitudes, values, and lifestyles. |
| Conspicuous consumption | They purchase and use automobiles, homes, yachts, clothes, and so forth primarily to demonstrate their great wealth. |
| Cognitive age: | one’s perceived age, a part of one’s self-concept. |
| Cohort analysis: | the process of describing and explaining the attitudes, values, and behaviors of an age group as well as predicting its future attitudes, values, and behaviors. |
| Methods for measuring social class | Single-Item Indexes Multi-Item Indexes |
| Single-Item Indexes | • Education • Occupation • Income |
| Income | Subjective Discretionary Income |
| Multi-Item Indexes | • Hollingshead Index of Social Position • Warner’s Index of Status Characteristics • Census Bureau’s Index of Socioeconomic Status |
Created by:
acpearl