Consumer Behaviour Flashcards

Flashcards covering key concepts in consumer behaviour.

What are the three phases of the consumer behavior process?

Pre-consumption, Consumption, and Post-consumption.

What is 'value in use' in the context of consumer behavior?

The value of a good to the consumer in terms of the usefulness it provides.

What is Symbolic value and how is it important in Consumer Behavior?

The meaning a consumer attaches to a good or possession to influence and participate in the social world.

How do consumers co-create value?

Through active involvement during the product/service creation process.

What is crowdsourcing in consumer behavior?

When consumers become involved in ventures such as fundraising, innovation, and even manufacturing.

Define 'consumer' in the context of consumer behavior.

A person who identifies a need, want, or desire, makes a purchase, and disposes of a product.

What is geographic segmentation?

Dividing the market by location, assuming consumers in the same area share similar needs and wants.

What are the key elements of Demographic segmentation?

Age, gender, marital status, income, education, and occupation.

What is psychographic segmentation?

Dividing consumers based on lifestyles, values, attitudes, and interests.

What is benefit segmentation?

Dividing the market based on the major benefits consumers seek in a product class.

What is user-related segmentation?

Categorizing consumers by product, brand, or service usage, including rate of usage and brand loyalty.

What are the Segmentation Strategies?

Demographic, Geographic, Psychological/lifestyle, Behavioral/user related, and Benefit sought.

What are the key attributes of segments to target?

Identifiable, Stable, Congruent with businesses, Sizable, and Accessible.

What are the key CONSUMER INFLUENCES?

External, Internal, and Situational influences

What are the key components of MARKETING DECISIONS

Market segmentation, Product positioning, and Marketing mix

What does functional theory of attitudes focuses on?

How attitudes facilitate social behavior.

What are the components of Cognitive loyalty?

A psychological preference for a brand consisting of positive beliefs and thoughts.

What are the components of Emotion loyalty?

Commitment to a brand consisting of positive feelings about and attachment.

What is Cognition?

The mental processes that relate to perception learning, thinking memory beliefs attitudes and decision making.

What is Hierarchy of effects?

A fixed sequence of steps that occurs during attitude formation.

What does Experiential perspective stresses?

The Gestalt, or totality of the product or service experience focusing on consumers affective responses in the market place

What is Behavioural hierarchy of effects?

The formation of attitudes in response to behaviours in response to behaviours

What is Habits?

Behaviours that are automatic, repeated actions that occur in stable circumstances.

What is Impulse buying?

A process that occurs when the consumer experiences a sudden urge to purchase an itern that is unplanned

What is principle of cognitive consistency?

The belief that consumers value harmony among their thoughts, feelings and behaviours and seek to maintain uniformity among these elements.

What does cognitive dissonance means?

Inconsistency between attitudes motivates consumers to resolve the conflict.

What is self-perception theory?

People use observations of their own behaviour to infer their attitudes towards some object.

Define foot-in-the-door technique.

A consumer is more likely to comply with a request if he or she has first agreed to comply with a smaller request

What is social judgement theory?

Consumers assimilate new information about attitude objects in the light of what they already know or feel.

What does Balance theory encompasses?

Consumers need to maintain the relationship between self perception, attitudes towards others and attitude to the object so that they are balanced

What is Celebrity endorsements

A communications tactic whereby an organisation gets a well known person to market a product or cause in its behalf

What does Multi-attribute attitude models assume?

Consumer's attitude (evaluation) of an attitude abject depends on the beliefs he or she has about several or many attributes of the object

What is Fishbein model

An attitude model that includes the beliefs about an object and the importance of these beliefs.

What does the theory of reasoned action (TRA) considers?

Iscor's such as social pressure and Ast (the attitude towards the act of buying a product), rather than attitudes towards just the product itself.

What is subjective norms?

The perceived social pressure to have an attitude or perform a behaviour

What is Attitude towards the act of buying act?

The perceived consequences of a purchase

What does theory of planned behaviour (TPB) explains?

Behaviour as the result of attitude towards the behaviour, social norms, perceived behavioural control and intended behaviour

What does model of goal-directed behaviour (MGB) includes?

Goal- oriented desires, anticipated emotions and past behaviour

What is refutational argument?

Calling attention to a product's negative attributes as a persuasive strategy.

What components constitutes source credibility?

A communications sources perceived expertise, objectivity or trustworthiness.

Define comparative advertising.

A strategy in which brands are compared in terms of one or more specific attributes.

Define attitude towards the advertisement (Aad)

A predisposition to respond favourably or unfavourably to a particular advertising stimulus during a particular exposure occasion.

What does Cognitive appraisal theory believes?

Emotions result from appraisals we have about an object a person an event or an issue

Define Fear appeals

An attempt to change attitudes or behaviour through the use of threats or negative consequence

What does extended problem solving involves?

An elaborate decision-making process whereby consumers collect as much information as passible and carefully weigh product alternatives

What does limited problem solving entails?

Use of simple decision rules to arrive at a purchase decision.

Define habitual behaviour.

Choices made with little or no conscious effort.

What is Priming?

Subconscious exposure to an object or concept that influences subsequent thoughts, emotions or behaviours.

What is information processing perspective?

Consumers integrate as much information as possible with what they already know about a product.

What does purchase momentum refers to?

Impulse buying increases the Likelihood that we will buy even more later.

What is Conation?

Intentions, will, volition to perform an action.

What does consumer hyper choice refers to?

Too many options that may drain psychological and decrease ability to make smart choices.

What does constructive processing entails?

A thought process in which a person evaluates the effort they will need to make a particular choice, and then tailors the amount of cognitive 'effort' expended to make this decision

What is mental budget?

Consumers' preset expectations of how much they intend to spend on a shopping trip.

What does affective events theory (AET) entails?

An affective event creates an emotion which in turn leads to an affect-driven attitude and behaviour

What does Affect control theory says?

We change our thoughts or behaviours to maintain our emotions.

What does affect infusion model suggests?

Affect influences judgements depending on the type of reasoning.

What does affective priming entails?

An emotion felt before exposure to an object influences future emotions.

What does affect as information refers to?

Mood or emotion provides information as the basis of judgement.

What does Emotion as social information represents?

The EASI model explains how others use our emotions as information to make decisions

What does Behaviour influence perspective view says?

Consumer decisions are learned responses to environmental cues

What are Habits?

Automatic, continual behaviours with little conscious thought.

What does Routine represents?

A set of habits in a I particular sequence.

What is Valence?

Negative or positive features

What does marketing science involves?

Use of behavioural observations (c.g-purchase rates) rather than cognitive concepts to understand behaviour.

What does double jeopardy refers to?

An effect where small brands have bath low market share and fewer customers than big brands.

What are the engel-kollat-blackwell model of consumer behaviour (EKB) stages?

Problem recognition, information search, evaluation of alternatives, purchase and post-purchase.

What is variety seeking?

The desire to choose new alternatives over more familiar ones.

What is perceived risk?

An evaluation of uncertainty about a product or brand.

What is evoked set?

Products that are likely to be considered.

What is inept set?

Products that we would never consider make up our inept set.

What is inert set?

Products of which a consumer is aware but that are not actively considered.

What is product categorisation?

A mental classification of similar and different products

What is feature creep?

The tendency of manufacturers to add layers of complexity to products that make them harder to understand and use.

What is evaluative criteria?

The dimensions used by consumers to compare competing product alternatives.

What is determinant attributes?

The attributes actually used to differentiate between choices

What is Neuromarketing?

A technique that uses a brain-scanning device called functional magnetic resonance imaging (MRI) to track blood flow as people perform mental tasks

What are Heuristics?

The mental rules of thumb that lead to a speedy decision.

What is bounded rationality?

A concept in behavioural economics that states that decisions are made with the resources available at the time

What is Zipf law?

A pattern that describes pe\reference for the tip second and third ranked brands

What is mental accounting?

Principle which states that decisions are influenced by the way a problem is posed

What is sunk-cost fallacy?

The belief that if we pay more for something we should not waste it.

Define Hyperopia.

The medical term for people who are obsessed with preparing for the future and can't enjoy the present.

What does prospect theory says?

People make choices based on the level of risk or uncertainty.

How consumers shape the market?

Decide what products are trending and the quantity made of products

What are the segmentation strategies?

Geographic, Psychographic, and behavioral/micro targeting

What does concentrated marketing involves?

Unique marketing mix to one segment

What does Counter segmentation refers to?

The market combines two or more smaller segments and targets based upon a generic need.

Define Positioning.

Designing an offering so that the target segment perceives it as distant and valuable relative to competitors

What are the three roles of consumers in decision making?

Problem solvers, Emotion experiences, and Habitual actors

What are the steps for Consumers as problem solvers: extended problem solving?

Stage 1 problem recognition, Activating problem recognition, Consumer problems & marketing strategy, Step 2 - What influences information search?, Step 3 evaluation of alternatives, Stage 4: Product choice, Stage 5: Post-purchase outcome

What does Sensory Systems?

The five senses (sight, sound, smell, taste, and touch) that consumers use to perceive and interact with products, brands, and their environment.

What does Hedonic Consumption indicates?

The multisensory, fantasy, and emotional aspects of a consumer’s interactions with products.

What does Content Effects indicates?

The influence of the surrounding environment or situation on how consumers perceive and react to stimuli.

What does Sensory marketing engages?

Consumers senses to influence their perception, judgements and behaviors

What does Exposure occures?

When a stimulus comes within the range of someone's sensory receptors.

List some stimuli selection factors.

Size: Size of stimulus in contrast to the competition may help command attention, Colour, Position, and Novelty

What is sensory thresholds?

The lowest intensity of a stimulus that can be registered on a sensory channel, we speak of a threshold for that receptor

What is Just noticeable difference (JND)/Weber’s law

According to Weber’s Law, the stronger the initial stimulus (imprint), the greater a change must be for it to be noticed.

What is Attention?

The extent to which processing activity is devoted to a particular stimulus.