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Consumer Behavior > Test One (1-4) > Flashcards

Test One (1-4) Flashcards

(84 cards)

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1
Q

Aspects regarding understanding consumer behavior (4)

A

Complex process
Firms understand the consumer
Marketing decisions impact the consumer
Ethical issues of consumer

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2
Q

Auxiliary service*

A

A service of a service

Picking up and dropping off a car for free

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3
Q

Applications of consumer behavior

A

Marketing strategy (knowing consumer behavior helps you be more successful as a marketer)
Regulatory policy
Social marketing
Informed individuals

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4
Q

Social marketing

A

Application of marketing strategies to alter behaviors that have a positive effect on the society
(Reduce smoking, recycling)

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5
Q

Customer value

A

The difference between all the benefits derived from a total product and all the costs of acquiring those benefits

A FIRM SHOULD CONSIDER VALUE FROM A CUSTOMERS PERSPECTIVE

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6
Q

Marketing strategy is formulated in terms of the marketing mix… what’s the mix?

A

Product features, price, communications, distribution, services

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7
Q

What is a total product?

A 
Product features 
Price
Communications 
Distribution
Services
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8
Q

What is involved in the market analysis component?

A 
The consumers (research) 
The company (know their own capability to meet customer needs)
The competitors 
The conditions (state of economy, environment, gov regulations, technology)
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9
Q

4 questions a firm must ask themselves about their competitors?

A

1) if we succeed who will we hurt?
2) who has strength to respond?
3) will they respond?
4) is our strategy strong enough to handle backlash?

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10
Q

Market segmentation define

A

A portion of a larger market whose needs differ somewhat from the larger market

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11
Q

4 steps of market segmentation

A

Identify product related need sets
Grouping customers with similar need sets
Describing each group
Selecting an attractive segment to serve

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12
Q

Need set define

A

Most products satisfy more than one need

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13
Q

Target market

A

Segment of the larger market on which we focus our marketing effort

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14
Q

Behavioral targeting

A

When online activity is tracked and specific banner ads are customized base on that activity

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15
Q

How will we provide superior customer value to our target markets?

A

Marketing strategy

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16
Q

Product

A

Anything a consumer acquires to meet a perceived need

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17
Q

Marketing communications

A

Includes advertising, sales force, public relations, packaging

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18
Q

Consumer cost

A

Everything the consumer must give up in order to receive the product

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19
Q

Distribution

A

Having the product available where target customers can buy it

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20
Q

Communications strategy must answer…

A

Who exactly do we want to communicate with?

What effect do we want our communications have on the target market?

What message will achieve the desired effect on our audience?

What media should we use to reach the audience?

When should we communicate with the audience?

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21
Q

Outcomes of consumer decision

A

Firm outcomes
Individual outcomes
Society outcomes

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22
Q

Firm outcomes

A

Product position
-an image of the product in the consumers mind relative to competing products

Sales and profits

Customer satisfaction

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23
Q

Individual outcomes

A

Need satisfaction

Injurious consumption

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24
Q

Society outcomes

A

Economic outcomes
- decisions made in U.s Western Europe and Japan have huge impacts

Physical environment outcomes
- Colorado will stock more jackets

Social welfare
-injuries consumption affects this

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25
Altruist (social) marketing
Advertisements that promote social welfare
26
Steps to creating a satisfied customer
``` Customer decision Expected value Sales Value delivered Customer satisfaction ```
27
External influences on consumer behavior
Culture (most persuasive) Demographics Reference groups Marketing activities
28
Internal influences
``` Perception Learning Memory Motives Personality Emotions Attitudes ```
29
Self concept
The individuals thought and feelings about themselves
30
Consumer decisions
Result from perceived problems and opportunities
31
Consumption has symbolic meaning
Status Identity Group acceptance
32
World citizens (4)
Global citizens Global dreamers Anitglobals Global agnostics
33
Global citizens
Positive toward international brands and concerned about corporate responsibility
34
Global dreamers
Positive toward international brands, less concerned about corporate responsibility
35
Anitglobals
Negative toward international brands
36
Global agnostics
Don't base decision on global brand names.
37
Culture
A complex whole that includes knowledge, belief, art, law, morals and customs acquired by humans of a society
38
Norms
Rules that specify or prohibit certain behaviors in specific situations
39
Norms are derived from cultural values which are...
Held beliefs that affirm what is desirable
40
Sanctions
Social disapproval or banishment from the group
41
Variations in cultural values
Other oriented values Environment oriented Self oriented
42
Other oriented values | Relationship between individual and groups
Individual/collective Youth/age Extended/limited family Masculine/ feminine Competitive/ cooperative Diversity/ uniformity
43
Environment oriented values | Relationship to its economic, and physical environment
``` Cleanliness Performance/status Tradition/change Risk taking/security Problem solving/ fatalistic ```
44
Self-oriented values | Approaches to life that the individual members of society find desirable
``` active/passive Sensual gratification/abstinence Material/nonmaterialistic Hard work/leisure Postponed/immediate gratification Religious/secular ```
45
Variations in nonverbal communications
``` Time Space Symbols Relationships Agreements Things Etiquette ```
46
Monochromic time perspective
Do one thing at a time. Orientation toward the present and future
47
Polychronic time perspective
Do many things at once. Presentation towards the present and the past
48
The number 7 is unlucky in what countries?
Ghana, Kenya, Singapore
49
Guanxi
Learn it
50
Demographics
Describes a population in terms of its size structure (age, income, education) and distribution (the physical location of individuals)
51
Purchasing power parity
How much an individual has to spend based on their income and the cost of a standard market basket of products bought in each country
52
Glocalization
Adapting global products to local considerations
53
Cultural beliefs
Widely held beliefs that affirm what is desirable
54
Voluntary simplicity
Consumers efforts to reduce their reliance on consumption and material possessions
55
Creative class
Group of people that embrace change
56
Enviropreneurial marketing
Environment friendly marketing practices by a firm to achieve a competitive differentiation
57
Cultural creative
Concerned wth self actualization, self expression and like things that are foreign and exotic
58
Four evolving American value systems
Green marketing Cause related marketing Gay consumers Gender based marketing
59
Green marketing
Creating products who's disposal is less harmful to the environment Creating products who have a positive impact on the environment tying the purchase of a product to an environmental cause
60
Why are people skeptical about green marketing
Expensive Considered low quality Not trustworthy
61
Green washing
A firm lies about environmental benefits of their product
62
Eco centrists/ respectable stewards
Highly committed to environment and will pay more for eco friendly
63
Proud traditionalist and frugal earth mothers
Some motivated by efficiency, practicality and family
64
Eco villains
Very dismissive of environmental concerns
65
FTC changed laws for green marketing to..
Focus on qualifying claims | Crack down on third party certifications and seals
66
Cause related marketing
Marketing that ties a company and its products to a cause with the goal of improving sales and image while providing benefits to the cause
67
Gender identity
Traits of femininity and masculinity
68
Ascribed role
An attribute over which the individual has no control of
69
Achievement role
Performance criteria over which the individual has some degree of control
70
Female market segments
Traditional housewife Trapped housewife Trapped working woman Career working woman
71
Marketing to gay consumers
16 million people are gay | Highly attractive segment
72
Generation(age cohert)
Group of people who have experience a common social, political, historical, and economic environment
73
Cohort analysis
Process of describing behaviors of an age group and predicting its future mindsets
74
Pre depression
Prior to 1930
75
Depression
1930-1945
76
Baby boom
1946-1964
77
Generation Z
1995-2009
78
Generation Y
1977- 1994
79
Generation x
1965-1976
80
What generations are apart of the mature market
Pre depression Depression Baby boom
81
The Coleman rainwater social class hierarchy classes
Upper Americans Middle Americans Lower Americans
82
Dimensions of the upper class
Upper-upper Inherited wealth. Capitol S society Lower upper New social elite corporate leadership Upper-middle College graduate managers, physician
83
Dimensions of the middle class
``` Middle class Average pay white collar workers, high school teachers ``` ``` Working class Average pay blue collar workers, assembly worker ```
84
Lower Americans dimensions
Upper-lower Living standard just above poverty, janitor Lower-lower On welfare, poverty stricken, unemployed

Consumer Behavior (3 decks)

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