Consumer Behaviour Flashcards

Flashcards on consumer behavior, covering definitions, the evolution of marketing, and influencing factors.

Consumption

The process of buying or using goods and services.

Consumer

An individual who buys or uses goods and services; identifies a need or desire, makes a purchase, and disposes of the product.

Consumer Behaviour

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.

Production Concept

Consigns the consumer to the background and focuses on producing products efficiently and offering them at inexpensive prices (1850s - 1900s).

Product Concept

Focuses on creating quality products in order to achieve higher profits (1900s - 1930s).

Selling Concept

Promotes the use of sales and promotional activities in order to persuade the consumer to purchase products (1930s - 1950s).

Marketing Concept

Understands the needs and wants of customers rather than the needs of the vendor and the product (1950s - 21st century).

Societal Concept

Focuses on harmonizing the goals of the business, the consumer, and society (1970s - 21st century).

Holistic Concept

Adoption of all activities of marketing which includes internal, integrated, performance, and relationship marketing (21st century - ).

Economical approach to consumer behavior

Consumers are highly rational and engage in economic transactions in a beneficial manner for self-interest.

Psychological approach in consumer behavior

Individual differences & traits eg. perception, motivation, personality and attitude

Consumer Psychology

Examines consumers' perceptions, beliefs, feelings, and thoughts when examining purchasing behavior.

Sociological Influence on Consumer Behavior

Purchases are influenced by an individual’s place in societal groups, aiming for acceptance and belonging.

Cultural Influences

Long-term influences on consumer behaviour; develops a deeper understanding of the meaning of products, brands and symbols in a cultural context.

Cultural Anthropology

The study of humans and human behaviour in the past and the present; helps understand consumer behaviour and consumer needs of specific cultures.