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Consumer Behavoir 1
Consumer Behavoir Exam #1
| Term | Definition |
|---|---|
| The Four P's | Price, Promotion, Place, Product |
| Consumer Behavior | the study of how individuals make decisions to spend their available resources (time, money, effort) on consumption-related items |
| Groups of consumers | Apostles, hostages, mercenaries |
| Profitability Levels | Platinum, Gold, Iron, Lead |
| Personal Consumer | buys products or services for one owns consumption |
| Organizational Consumer | buys products or services to sustain another business |
| Production Orientation | -From the 1850's to the mid 1950's -Companies focus on producing - Consumer demand exceeds supply - Demand > Supply - Works if there's a high demand and a low supply |
| Sales Orientation | - From the 1930's to the mid 1950's - Focus on selling - Supply exceeded customer demand - Demand < Supply - Birth of retailers to help suppliers reach consumers |
| Marketing Concept | - 1950's to present- focus on the customer! - Determine the needs and wants of specific target markets - Deliver satisfaction better than the competition |
| Societal Marketing Concept | - Considers consumers' and society's long-run best interests - Good corporate citizenship |
| Consumer Research | - marketing research that yields information about the motives and needs of different classes of consumers |
| Market Segmentation | process of dividing the market into subsets of consumers with common needs or characteristics |
| Market Targeting | The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter. |
| Positioning | Giving (creating) a personality to a product. Developing a distinct image for the product in the mind of the consumer |
| Consumer Behavior is... | Interdisciplinary: Psychology, Sociology, Social Psychology, Anthropology,and Economics |
| The Consumer Research Process | 1.) Stating Research Objectives 2.) Collecting Secondary Data (quantitative and qualitative 3.) Collecting Primary data |
| Secondary Research | data that has already been received and is publicly available, was collected for reasons other than the specific research project at hand |
| Primary Research | New research, will be quantitative or qualitative |
| Quantitative Data | One exact answer ex) age, weight, gender |
| Qualitative Data | Open ended answer ex) one-on-one interviews, non-structured interviews, interviewer will probe to get more feedback |
| Internal Data | - Data generated in-house - May include analysis of customer profile - useful for calculating customer lifetime value |
| External Data | - Data collected by an outside organization - Includes federal gov't, periodicals, newspapers, books, search engines - Commercial data is also available from market research firms |
| Focus Group | - 8-10 participants - Respondents are recruited through a screener questionnare - Lasts about 2 hours - Always taped or video taped to assist analysis - Often held in front of two-way mirrors - |
| Mechanical Observational Research | - uses mechanical or electronic device to record consumer behavior or response - consumers' increased use of highly convenient technologies will create more records for marketers - ex) traffic counters, videotape technology, and frequent shopper cards |
| Likert Scales | Asked to agree or disagree with a statement Easy to prepare & interpret Simple for consumers |
| Semantic differential scales | Includes bipolar adjectives Relatively easy to construct and administer |
| Behavior intention scales | Measures likelihood consumers will act a certain way Easy to construct and administer |
| Rank-order scales | Items ranked in order of preference in terms of some criteria |
| Market Segmentation | Process of identifying groups of people who behave in similar ways to each other, but somewhat differently than other groups |
| Demographic Segmentation | Age, Gender, Marital Status, Family-Life Cycle, Education, Income, and Occupation |
| Geo-demographic Segmentation | Based on geography and demographics People who live close to one another are similar |
| Personality | A unique combination of psychological characteristics that lead to consistent behavior |
| Lifestyles | Psychographics Includes activities, interests, and opinions They explain buyer’s purchase decisions and choices |
| Usage Rate | Heavy, medium, light are examples. The awareness status. |
| Usage-Situation Segmentation | Segmenting on the basis of special occasions or situations |
| Benefits Segmentation | Benefits sought represent consumer needs |
| Concentrated Marketing | One segment |
| Differentiated Marketing | Several segments with individual marketing mixes |
| Generic Need Recognition | Occurs when consumers realize they have a need for a general product category |
| Selective Need Recognition | The result of stimulating the need for a specific brand within a category |
| Ongoing Search | When information acquisition takes place on a relatively regular basis, regardless of sporadic purchase needs |
| The Consumer Decision Process | represents a road map of consumers’ minds that marketers and managers can use to help guide product mix, communications, and sales strategies 1)Need Recognition 2)Search for info 3)Evaluation of alternative 4)Purchase 5)Consumption 6)Divestment |
| Internal Search | Whether or not you have the information? Were you satisfied with your last purchase? |
| Marketer Dominated External Search | Information about a product from ads, sales person, website |
| Non-marketer Dominated External Search | Information about a product from anyone or anything that's not the company selling the product or service |
| Pre-purchase Evaluation of Alternatives | The process of evaluating alternatives identified from search, which leads to a product or brand selection most likely to satisfy the consumer |
| Evaluative criteria | standards and specifications used to compare different products and brands |
| Salient attributes | Examples are price and reliability are important to all consumers |
| Determinant attributes | Are a car’s style and finish usually determine which brand or store consumers choose. These are specific to each consumer. |
| Experience attributes | Are ones that are difficult to evaluate pre-purchase |
| The Categorization Process | The evaluation of a choice alternative based on the evaluation of the category to which it is assigned Categories may be general or specific |
| The Piecemeal Process | Constructing an evaluation of a choice alternative by considering its advantages and disadvantages along important product dimensions |
| Cut-off | Restriction or requirement for acceptable performance |
| Compensatory | Evaluates each brand in terms of each relevant attribute and then selects the brand with the highest weighted score |
| Non-compensatory | Positive evaluation of a brand attribute does not compensate for a negative evaluation of the same brand on some other attribute |
| Lexicographic Strategy | Brands are compared initially on the most important attribute, and the winner is chosen. If more than one is evaluated similarly on that attribute, the second most important is considered, and so on, until a winner is identified. |
| Conjunctive Strategy | Each brand is compared, one at a time, against a set of attributes which is established for each salient attribute. If a brand meets the cutoffs for all attributes, it is chosen. |
| Purchase Behavior | Trial purchase, repeat purchases, long-term commitment |
| Post-purchase Evaluation | Actual performance matches expectations-neutral feelings, actual performance exceeds expectations-positive dis-confirmation of expectations, performance below expectations-negative dis-confirmation of expectations |
| Divestment | How consumers dispose of the packaging or leftovers of a product |
| Extensive Problem Solving | A lot of info needed, must establish a set of criteria for evaluation |
| Limited Problem Solving | Criteria for evaluation established, fine tuning with additional info |
| Routinized Response Behavoir | Usually review what they already know, habitual |
| Four Views of Consumer Decision Making | Economic, passive, cognitive, and emotional |
| Gifting Behavoir | The act of symbolic communication, with explicit and implicit meanings ranging from congratulations to I Love You! |
| Motivations | Represents the drive to satisfy both physiological and psychological needs through product, purchase, and consumption |
| Goals | The means through which sought after results (desired states) of motivated behavior can be achieved |
| Generic Goals | General categories of goals |
| Needs | The essence of the marketing concept. Marketers do not create them but can make consumers aware of them. |
| Product-specific Goals | Specifically branded products or services that consumers select as their goals |
| Innate Needs | Physiological (or bio-genic) needs that are considered primary needs or motives |
| Acquired Needs | Learned in response to our culture or environment. Are generally psychological and considered secondary needs |
| Substitute Goals | Are used when a consumer cannot attain a specific goal he/she anticipates will satisfy a need |
| Defense Mechanisms | Aggression, Rationalization, Regression, Withdrawl |
| Arousal of Motives | Physiological, emotional, cognitive, and environmental |
| Behaviorist School | Behavior is response to stimulus, elements of conscious thoughts are to be ignored, consumer does not act, but reacts |
| Cognitive School | Behavior is directed at goal achievement, needs and past experiences are reasoned, categorized and transformed into attitudes and beliefs |
| Motivational Intensity | The degree to which consumers are motivated to satisfy a need |
| Approach Goal | A positive goal toward which behavior is directed |
| Avoidance Goal | A negative goal from which behavior is directed away |
| Motivational Conflict | Satisfying a need often comes at the expense of another need—these trade-offs cause ______ |
| Approach-approach | Deciding between two or more desirable options |
| Approach-avoidance | Behavior has both positive and negative consequences |
| Avoidance-avoidance | Deciding between two or more undesirable options |
| Maslow's Hierarchy of Needs | Physiological, safety and security, social, ego, and self actualization |
| Trio of Needs | Power, Affiliation, Achievement |
Created by:
jklevin3085
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