Chapter 7 Flashcards
1
Q
rational behavior
A
says that people use calculations to make choices and get outcomes that align with personal objectives
(maximizing self interest)
2
Q
examples of rational behavior
A
- williams sonoma made a more expensive “deluxe” bread machine so the cheaper one started to sell fast
- amazon (the value of free) with the idea of free shipping
3
Q
retail shopping behaviors
A
- demographics
- lifestyles
- needs / desires
- shopping attitudes / behavior
- retailer actions
- environmental factors
4
Q
social factors that influence lifestyles
A
- culture
- social class
- reference groups
- time
- household life cycle
- family life cycle
5
Q
different types of reference groups
A
- aspirational group (those who don’t belong but want to join)
- membership group (people that do belong)
- dissociative group (people who don’t want to belong)
- face to face group (intimate family or peers)
6
Q
psychological factors that influence lifestyles
A
- personality
- attitude
- perceived risks
- class consciousness
- purchase importance
7
Q
types of perceived risks
A
- functional
- physical
- financial
- social
- time
- psychological
8
Q
illustrations of lifestyles
A
- gender roles
- consumer confidence
- poverty of time
- component lifestyles (meets diverse needs / interests)
