Ch. 1 Intro to Consumer Behavior

Vocabulary flashcards covering key concepts from Chapter 1 notes.

Consumer behavior

The study of individuals, groups, or organizations and the processes they use to select, obtain, use, and dispose of products, services, experiences, or ideas to satisfy needs and the effects of these processes on the consumer and society.

Marketing strategy

A plan to provide superior customer value to a target market by formulating a consistent marketing mix (Product, Communications, Price, Distribution, Service).

Applications of consumer behavior

Ways knowledge of consumer behavior informs marketing decisions, including segmentation, targeting, positioning, and the design of marketing programs.

Conceptual model of consumer behavior

A framework linking external and internal influences to consumer decisions and outcomes for the firm, the individual, and society.

Total product (experience)

The overall experience a product or service provides; increasingly, experiences can be the primary value and are largely internal to the consumer.

External influences on consumer behavior

Factors outside the consumer that shape behavior, including culture, demographics, subcultures, families, and groups.

Culture

A pervasive influence shaping values, meanings, and consumption; diverse and changing within society.

Demographics and social stratification

Statistical attributes (age, income, education) and class structures that affect consumption patterns.

Subcultures

Distinct ethnic, religious, or regional groups within a culture that influence buying patterns.

Families and households

Family structure and household dynamics that influence purchasing decisions.

Groups (reference groups)

Social groups and reference others that influence attitudes and behavior.

Internal influences

Psychological factors inside the consumer—perception, learning, memory, motives, personality, emotions, attitudes—that drive behavior.

Perception

How individuals interpret stimuli and form views about brands and products.

Learning

Behavior changes resulting from experience, information, or conditioning.

Memory

The ability to store and retrieve information about brands, products, and experiences.

Motives

Driving needs or desires that prompt consumption; can be functional, symbolic, or emotional.

Personality

A relatively stable set of characteristics that influence preferences and behavior.

Emotions

Affective states that influence decision making and evaluation.

Attitudes

Evaluations of products or brands that guide future choices.

Self-concept

A person’s overall perceptions and beliefs about themselves and how they influence preferences.

Lifestyle

How one lives, including activities, interests, opinions, and the products one buys and uses.

Need set

A bundle of needs that a product can satisfy; one product can meet multiple needs.

Market analysis components

A framework comprising The Consumers, The Company, The Competitors, and The Conditions.

Market segmentation

Dividing a larger market into subgroups with distinct needs, enabling targeted marketing and segment selection.

Need sets in segmentation

Different groups have different sets of needs; products may satisfy multiple needs beyond the basic function.

Four steps of market segmentation

Identify product-related need sets; group customers with similar needs; describe each group; select attractive segments.

Market mix (marketing mix)

A combined set of activities—Product, Communications, Price, Distribution, and Service—used to deliver value to target customers.

Marketing communications

Advertising, sales force, public relations, packaging, and signals about a product used to influence the target market.

Target market

The specific group(s) of consumers a firm aims to serve with its marketing mix.

Positioning (product position)

The image of a product in the consumer’s mind relative to competing products.

Consumer decision process

Steps from recognizing a need to purchase and post-purchase evaluation: problem recognition, information search, evaluation, purchase, and outcomes.

Outcomes

Results of marketing: firm outcomes (position, sales, profits, satisfaction), individual outcomes, and societal outcomes.

B2B vs B2C marketing

B2B targets organizations as buyers; B2C targets individual consumers.

Regulation in consumer behavior

Regulatory policies that influence marketer actions and consumer responses.

Meaning of consumption

Consumption has symbolic meaning beyond satisfying basic needs, including status, identity, and group acceptance.