Chapter 1: Intro

Question 1

Market Segmentation

Answer 1

Identifies groups of consumers who are similar to one another and then devise marketing strategies accordingly

Question 2

Consumer Behaviour

Answer 2

The study of processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires

Question 3

Pre Purchase Issues

Answer 3

How are consumer attitudes toward products formed and changed? What cues do consumers use to infer which products are superior to others?

Question 4

Purchase Issues

Answer 4

How do situational factors, such as time pressure or store displays, affect the consumers purchase decision

Question 5

Post Purchase Issues

Answer 5

What determines whether a consumer will be satisfied with a product and whether he/she will buy it again? Does this person tell others about his/her experiences with the product that affects their purchase decisions?

Question 6

Buyer vs. Consumer Behaviour

Answer 6

Buyer behaviour is focused on the selling, while consumer behaviour is focused on the entire process and repeat purchases

Question 7

Meaning of Consumption

Answer 7

Self concept attachment → creation of self identity, for a new generation
Nostalgic attachment → coca cola is nostalgic ‘always coca cola’
Interdependence → necessity based, toothpaste for example
Love → bonding with companies
CLV: customer lifetime value
CRM: customer relationship management

Question 8

Dark Side of Consumption

Answer 8

Addictive, Illegal, Compulsive, Consumed Consumers, Anti-Consumption