Consumer Behavior 1.txt

  1. 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
  2. Customer Value
    The different between all the benefits derived from a total products and all the costs of acquiring those benefits.
  3. Total Product
    The product features, price, communications, distributions, and services that will provide customers w/superior value (Customer service)
  4. By what means do firms try to influence customers?
    Ads, packaging, location, sales pitch
  5. Market Segment
    A portion of a larger market whose needs differ somewhat from the larger market
  6. Market Segmentation (4 steps)
    • Identifying product related need sets
    • Grouping customers w/ similar need sets
    • Describing each group
    • Selecting an attractive segements to serve
  7. Need set
    Used to reflect the fact that most products in developed economics satisfy more than one need
  8. 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
  9. Behavioral Targeting
    In which consumers online activity is tracked & specific banner ads are delivered based on that activity
  10. Culture
    The complex whole that includes knowledge, belief, art, law, morals, customs, & any after capablities & habits acquired by humans as members of society
  11. Cultural factors affecting consumer behavior & marketing strategy (i.e. language, etc.)
    Language, demographics, values, nonverbal communications
  12. Norms
    Boundaries that culture sets on behavior
  13. Sanctions
    Penalties ranging from mild social disapproved to banishment from the group
  14. Factors influencing nonverbal communication (things, etc.)
    Ettiquette, time, space, things, agreements, relationships, symbols
  15. Monochronic time perspective
    Mono- everything done one step at a time, strong orientation toward the present & the short-term future.
  16. Polychronic time perspective
    Poly- People & relationships take priority over schedules & activities occur at their own part rather than the predetermined time table
  17. What factors seem to be enabling the growth of a global culture? (travel, etc.)
    Travel, mass media, education
  18. Other-oriented Values
    Reflect society's view of the appropriate relationships between individuals & groups w/in that society
  19. Environment-oriented values
    Prescribe a society's relationship to its economic & technical as well as its physical environment
  20. Self-oriented values
    Reflect the objectives & approaches to life that the individual members of society find desireable
  21. 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
  22. Key Traditional American descriptive values (youth, etc.)
    Youth, hardwork, active, competitive
  23. Key emerging American environment-oriented value
    admiring nature, decrease in credit
  24. Voluntary simplicity
    Reduce homes, less-expensive car, reduce stress
Card Set
Consumer Behavior 1.txt
Test 1