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Consumer Beh ch. 1
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What is consumer behavior?
study of individuals, groups, or organizations, looking at why and how they buy and use what they purchase/consume
Marketing Strategy
all tactics are based on how consumers behave
Regulatory Policy
FDA, cusumer deception, health & safety
Social Marketing
application of marketing techniques that are positive to society
Informed Inividuals
help with purchases (why I buy things)
Market Analysis Components
Consumers
Company
Competitors
Conditions
Consumers Analysis
anticipate what they want through research
Company Analysis
can my company meet consumer needs
Competitor Analysis
what are my competitors doing
Condition Analysis
uncontrollable factors
Market Segmentation
a portion of the larger market whose needs differ from that market
Market Segmentation Components
identifying product
grouping customers with similar need sets
describing each group (age, income, gender)
selecting an attractive segment to serve
Marketing Strategy
asks.... how will we provide superior customer value to our target market
need to formulate marketing mix
Marketing Mix
Product
Price
Communications (promotion)
Distribution (place)
Consumer Decisions
this process intervenes between the marketing strategy and the outcomes
Outcomes
Firm outcomes
Individual outcomes
Society outcomes
Firm Outcomes
product position
sales/profit
customer satisfaction
Individual Outcomes
need satisfaction
Society Outcomes
choices to buy and save affect society
Exturnal Influences (Nature of CB)
culture
demographics
ethnic, religious, and regional subcultures
families and households
Internal Influences (Nature of CB)
perception
learning
memory
motives
personality
emotions
attitudes
Self Concepts
totality of an individual's thoughts and feelings about oneself
Lifestyle
how one lives, including the products they buy
how they use them
what they think about them
how they feel about them
consumer decisions
result from perceived problems and opportunities
consumer problems
arise in specific situations and the nature of the situation influences the resulting consumer behavior
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Author
kyle.coughlin
ID
170522
Card Set
Consumer Beh ch. 1
Description
Consumer Beh
Updated
2012-09-13T00:26:29Z
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