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MKTG 701 > Week 4 - Consumer Behavior > Flashcards

Week 4 - Consumer Behavior Flashcards

1
Q

Why does consumption occur?

A

Real or perceived

Need, want, or desire

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2
Q

What should marketers identify about the consumer problem solving cycle?

A

How and why consumers chose a product

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3
Q

What is the difference:
Consumer behavior?
Buyer behavior?

A 
Consumer = purchases for personal use
Buyer = purchases for organisational use

Both are humans

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4
Q

What are the unique conditions of buyer behavior (eg, organisational use)

A 
Multiple decision makers
Derived demand (reliant on consumer demand)
Inelastic demand (low price sensitivity in short term)
Reciprocity (equivalence of advantages - arrange to buy from each other)
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5
Q

Are consumer buyers completely different from organisational buyers?

A

No - think parents buying for kids = multiple decision makers

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6
Q

what are the types of business buys?

A

straight rebuy
modified rebuy
new task buying

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7
Q

what’s a straight rebuy?

A

identical refill for organisational purchase

low time investment

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8
Q

what’s a modified rebuy?

A

refill with slight changes for organizational purchase

medium time investment

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9
Q

what’s a new task buy?

A

new organisational purchase for a new need

high time investment

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10
Q

what are the three models of buying - John O’Shaughnessy

A

want without buying
buy without deciding
deciding before buying

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11
Q

what does it mean to want without buying?

A

latent want - we don’t a product is available to fulfill our need
passive want - we procrastinate for avoidance or exclusionary factors

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12
Q

what are avoidance factors for passive wants (want without buying)?

A

perceived costs outweight benefits

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13
Q

what are exclusionary factors for passive wants (want without buying)?

A

external factors - like a promise to someone else or law prohibiting

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14
Q

what does it mean to buy without deciding

A

habit - previous choice or learned behavior
picking - random or convenience choice
intrinsic preference - gut choice, say on packaging in store

laundry detergent for instance is often a HABIT

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15
Q

what does it mean to decide before buying?

A

really = buy after deciding

choice criteria:
technical - performance/attributes
legalistic - externally imposed limits
integrative - reinforce image or role
adaptive - proxies to inform choice
economic -  cost/benefit perception
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16
Q

in consumer buying, what are levels of involvement and emotion?

A

involvement

  • levels of intensity
  • importance to the individual

emotion

  • rational
  • emotional
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17
Q

what types of products have high involvement buying processes?

A

highly visible, expensive, long lifespan

not dichotomous: high for one person might be low for someone else

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18
Q

what types of products have high emotion buying processes?

A

direct personal impact, high degree of variation, credence qualities, perceived risks

again, not dichotomous

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19
Q

what is the challenge of managing expectations?

A

high expectations =

higher purchase likelihood
higher chance of failing to meet expectations

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20
Q

when is it important to manage expectations

A

pre-purchase
purchase
post-purchase

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21
Q

what are consumer expectations?

A

beliefs about product/service

based on standards/prior experience/reference points

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22
Q

what are the levels of consumer expectation?

A 
ideal
normative
experiences-based
acceptable
minimum tolerable
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23
Q

what are ideal expectations?

A

top quality possible
often based on external standards: celebs, social media
often apply to fields like cosmetics

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24
Q

what are normative expectations?

A

what we perceive as what the outcome “should be”

often based on observable criteria (decor, price)

25
what are experiences-based expectations?
based on what we've experienced or what someone else has described to us reasonably established over multiple data points might not be accurate recall
26
what are acceptable expectations?
based on previous general experience in product category industry standard for safety, wait time, etc
27
what are minimum tolerable expectations?
lowest bar before unacceptable external factors might set this bar very low eg, hurricane evacuation shelter
28
what is the consumer gap?
difference between expected service and perceived service wider gap = dissatisfied customers marketers must set reasonable expectations to close the gap
29
what are the three internal drivers of behavior?
group culture - subconscious, influences values individual values - what a person believes, informs attitude attitude - approach to life, informs purchase behavior
30
why does is it important to understand culture, value, and attitudes?
critical to research | greatly informs the how and esp the why of consumer purchase
31
what two decision models will we focus on?
consumer buying decision process | consumer adoption model
32
what are the 5 steps in the consumer buying decision process
``` problem recognition information search alternative evaluation purchase decision postpurchase evaluation ```
33
what is problem recognition in CBD?
aka, need recognition ``` person realises they have a need, want, or desire internal trigger (hunger) external trigger (ad) ``` sometimes this step is subconscious
34
what is information search in CBD?
looking for potential solutions to need - internal info (i remember doing x) - external info (google search) active (google search) passive (glancing at street signs) generates limited set due to elimination or failure to notice alternatives
35
what is evaluation of alternatives in CBD?
information search generated "choice set" "consideration set" based on available info first pick might not be decided
36
what is purchase decision in CBD?
try to act on first choice might not be possible (out of stock) eventually purchase based on internal/external factors
37
what is postpurchase evaluation in CBD?
evaluation to see how it meets expectations sometimes formal, sometimes informal cognitive dissonance = not sure I made the right decision
38
what is the Consumer Adoption Process model?
how consumers decide to become habitual product user ``` Awareness Interest Evaluation Trial Adoption ```
39
what is awareness in CAP model?
become aware that a product or product category exists and can address our needs often done through advertising
40
what is interest in CAP model?
researching to learn more | comparing to current solution
41
what is evaluation in CAP model?
after interest, might choose to evaluate product availability impacts evaluation complexity and compatibility matter
42
what is trial in CAP model?
if evaluation = favorable, might try the product ``` trialability = degree to which can be test run at low/no risk divisibility = can it be broken into small portions for trial ``` in many cases trial must be skipped if not possible
43
what is trialability in Consumer Adoption Model
trialability = degree to which can be test run at low/no risk
44
what is divisibility in Consumer Adoption Model
divisibility = can it be broken into small portions for trial
45
what is adoption in CAP model?
if trial is favorable, make a new habit perceived risk, value, reward
46
what is the STP process?
Segmenting Targeting Positioning
47
why do the STP process?
most orgs can't appeal to everyone equally | selecting one or more subgroups can be effective
48
what is segmenting in STP?
subdividing the population into meaningful groups not just groups targeted clusters that are willing, able, and empowered with authority to buy
49
what is positioning in STP?
developing product/marketing strategies that make the target market feel heard and helped
50
what is targeting in STP?
process of evaluating segments and selecting one or more to focus on serving
51
what are effective segments?
differentiatable - meaningful differences from other segments measurable - estimate size and growth rate accessabile - we can reach them with marcoms substantial - warrant potential servicing
52
what are the segmentation stages?
survey stage - collect data analysis stage - form clusters profiling stage - write profiles for each segment
53
what types of patterns will we see in market characteristics?
homogeneous - all customers have similar needs/wants/desires heterogeneous - very diverse wants/desires clustered - groups with similar needs/wants/desires
54
what are the four bases of segmentation?
geographic demographic (age, gender, edu, income, religion) psychographic (personality, attitude, beliefs) behavioral (purchasing behavior: usage, benefit sought) typically multiple bases = stronger segmentation
55
what are the targeting stages in STP?
``` evaluate segments (market potential, competitive analysis) select segments (which one or more are optimal) develop targeting strategy (depends on the segment) ```
56
what are the four targeting strategies?
undifferentiated - treat everyone as one market (homogeneous) concentrated - focus on one segment only (clustered) differentiated - focus on a few different segments (clustered) individual - treat everyone differently (heterogeneous)
57
what is the purpose of positioning in STP?
Philip Kotler: winning/keeping customers means (1) understanding needs and (2) serving better than competition positioning = effort to meet needs of target customers better than competition
58
what is the positioning process in STP?
identify where our customers are perceptual mapping of competition on segments figure out how to communicate effectively to the customers will be covered in module 5 in more detail

MKTG 701 (6 decks)

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