DGM551 CHAPTER 1 TEST Flashcards
(28 cards)
What is Consumer Behavior?
The study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires
What is the role of technology in business?
To help businesses meet their supply chain objectives by allowing for greater communication, visibility, and efficiency
What are consumption communities?
Where members share opinions and recommendations.
What is a market segmentation strategy?
When an organization targets its product, service, or idea only to specific groups of consumers rather than to everybody
What are the stages in the consumption process
- Prepurchase issues
- Purchase issues
- Postpurchase issues
Give examples of pre-purchase issues from the consumer’s perspective
How does a consumer decide that he/she needs a product?
Give examples of pre-purchase issues from the marketer’s perspective
How are consumer attitudes toward products formed and/or changed?
Give examples of purchase issues from the consumer’s perspective
Is acquiring a product a stressful or pleasant experience? What does the purchase say about the consumer?
Give examples of purchase issues from the marketer’s perspective
How do situational factors, such as time pressure or store displays, affect the consumer’s purchase decision?
Give examples of post-purchase issues from the consumer’s perspective
Does the product provide pleasure or perform its intended function?
Give examples of post-purchase issues from the marketer’s perspective
What determines whether a consumer will be satisfied with a product and whether he/she will buy it again?
What is motivation in consumer behavior?
- Refers to the processes that lead people to behave as they do
- It occurs when a need is aroused that the consumer wishes to satisfy.
What are the two types of needs?
- Utilitarian
- Hedonic
What is utilitarian?
A desire to achieve some functional or practical benefit (e.g., buying vegetables for nutritional reasons)
What is hedonic?
An experiential need, involving emotional responses or fantasies
What is the 80/20 rule?
80% of a company’s revenue is generated by 20% of its customers (heavy users)
What is database marketing?
Tracks specific consumers’ buying habits very closely and crafts products and messages tailored precisely to people’s wants and needs based on this information
What is Relationship Marketing?
A strategy of Customer Relationship Management (CRM) that emphasizes customer retention, satisfaction, and lifetime customer value.
What is Role Theory?
The view that much of consumer behavior resembles actions in a play.
Describe Self-concept attachment
The product helps to establish the user’s identity
Describe Nostalgic attachment
The product serves as a link to the consumer’s past
Describe Interdependence
The product is a part of the user’s daily routine
Describe Love (in the context of consumer-brand relationships)
The product elicits emotional bonds of warmth, passion, or other strong emotion.
Who is a Digital Native?
Consumers who grew up “wired” in a highly networked, always-on world where digital technology had always existed
