-
Consumer Behavior
Study of individuals, groups, or oganization that processes they use and dispose of products, services, experiences or ideas that satisfy the needs & impacts that theses processes have on the consumer & society
-
Customer Value
The different between all the benefits derived from a total products and all the costs of acquiring those benefits.
-
Total Product
The product features, price, communications, distributions, and services that will provide customers w/superior value (Customer service)
-
By what means do firms try to influence customers?
Ads, packaging, location, sales pitch
-
Market Segment
A portion of a larger market whose needs differ somewhat from the larger market
-
Market Segmentation (4 steps)
- Identifying product related need sets
- Grouping customers w/ similar need sets
- Describing each group
- Selecting an attractive segements to serve
-
Need set
Used to reflect the fact that most products in developed economics satisfy more than one need
-
What types of categorizations do marketers describe a group of consumers with a similar need set?
Moderately priced, fun, sporty automobiles appears to appear in many young single individuals, young couples whose children have left home
-
Behavioral Targeting
In which consumers online activity is tracked & specific banner ads are delivered based on that activity
-
Culture
The complex whole that includes knowledge, belief, art, law, morals, customs, & any after capablities & habits acquired by humans as members of society
-
Cultural factors affecting consumer behavior & marketing strategy (i.e. language, etc.)
Language, demographics, values, nonverbal communications
-
Norms
Boundaries that culture sets on behavior
-
Sanctions
Penalties ranging from mild social disapproved to banishment from the group
-
Factors influencing nonverbal communication (things, etc.)
Ettiquette, time, space, things, agreements, relationships, symbols
-
Monochronic time perspective
Mono- everything done one step at a time, strong orientation toward the present & the short-term future.
-
Polychronic time perspective
Poly- People & relationships take priority over schedules & activities occur at their own part rather than the predetermined time table
-
What factors seem to be enabling the growth of a global culture? (travel, etc.)
Travel, mass media, education
-
Other-oriented Values
Reflect society's view of the appropriate relationships between individuals & groups w/in that society
-
Environment-oriented values
Prescribe a society's relationship to its economic & technical as well as its physical environment
-
Self-oriented values
Reflect the objectives & approaches to life that the individual members of society find desireable
-
Factors influencing the increased number of men involved in grocery shopping
Generational shifts more women in work force, economics bring home more money for women, men lose jobs, roles shared
-
Key Traditional American descriptive values (youth, etc.)
Youth, hardwork, active, competitive
-
Key emerging American environment-oriented value
admiring nature, decrease in credit
-
Voluntary simplicity
Reduce homes, less-expensive car, reduce stress
|
|
