Consumer Behavior

Unplanned Restocking

Replenishing items not planned for purchase but running low.

Unplanned New Purchase

Buying products not previously considered before shopping.

Impulse Purchase

Spontaneous purchase triggered by emotions or environment.

Priming

Subtle cues affecting decision-making and behavior.

Semantic Priming

Concepts linked in memory (e.g., 'bread' primes 'butter').

Procedural Priming

Familiar procedures influence actions.

Goal Priming

Encouraging actions toward specific objectives.

Sensory Marketing

Using sensory stimuli (sound, sight, smell) to influence consumers.

Store Atmospherics

Designing store environments to enhance customer experience.

Color Symbolism

Psychological impact of colors (e.g., green for eco-friendliness).

Sound Symbolism

Use of sound (e.g., music tempo) to influence shopping behavior.

Demographic Segmentation

Dividing the market based on age, gender, income, etc.

5 Criteria for Effective Segmentation (MASDA)

Measurable, Accessible, Substantial, Differentiable, and Actionable.

Psychographic Segmentation

Grouping consumers by lifestyle, values, and attitudes.

Psychographics

Characteristics that influence consumer preferences.

AIOs

Activities, Interests, and Opinions.

VALS

Consumer classification tool using 3 primary motivations.

Ideals

Beliefs and knowledge.

Achievement

Social recognition and status.

Self-expression

Creativity and individuality.

Behavioral Segmentation

Segmenting markets based on consumer behaviors.

Rogers’s 5 Adoption Factors

Factors influencing adoption of innovations: relative advantage, compatibility, complexity, trialability, and observability.

Innovation Diffusion Curve

Categorizes adopters from Innovators to Laggards.

Product Life Cycle

Stages of a product: Introduction, Growth, Maturity, Decline.

Culture

Shared societal norms, beliefs, and practices.

Values

Core principles guiding consumer choices.

Instrumental Values

Behavioral means (e.g., honesty).

Terminal Values

Desired end-states (e.g., happiness).

Country-of-Origin Effects

Consumer perception influenced by product's origin.

Consumer Ethnocentrism

Preference for domestically produced goods.

Hofstede's 6 Cultural Dimensions

Analyzing cultural differences: Power Distance, Individualism, Masculinity, Uncertainty Avoidance, Long-Term Orientation, and Indulgence.

Brand

Symbol or design distinguishing a product.

Keller’s 4 Level Brand Equity Model

Salience, Performance, Imagery, Resonance.

Aaker’s 5 Brand Personality Dimensions

Sincerity, Excitement, Competence, Sophistication, Ruggedness.

Geuens’s 5 Brand Personality Dimensions

Alternate personality dimensions for brands.

Consumption Communities

Groups sharing attachment to brands/products.

Muniz & O’Guinn’s 3 Markers

Shared consciousness, rituals, moral responsibility.

3 Forms of Affiliation

Aspirational, Associative, Dissociative.

Self-concept

How people perceive themselves.

Compensatory Consumption

Buying products to offset perceived deficiencies.

Extended Self

Identity intertwined with possessions.

Materialism

Importance placed on owning material goods.

Conspicuous Consumption

Publicly showcasing wealth via purchases.

Corporate Social Responsibility (CSR)

Corporate commitment to social and environmental well-being.

Stakeholder Theory

Balancing interests of all stakeholders (employees, customers, etc.).

Social Marketing vs. Cause-related Marketing

Promoting social good vs. associating brands with causes.

Consumer Activism

Consumers advocating for ethical practices.

Basic vs. Applied Research

Pure science vs. practical problem-solving.

Qualitative vs. Quantitative Research

Narrative insights vs. data-driven results.

3 V’s of Big Data

Volume, Variety, Velocity—characteristics of large-scale data analysis.

Causality

True causal relationship between variables.

Association

Correlation between variables.

Precedence

Cause occurs before effect.

Non-spuriousness

True causal relationship, not by chance.

Evolution of Retailing

Shifts in consumer shopping preferences over time.

Multi-channel vs. Omni-channel

Using multiple platforms vs. seamless integration.

eCommerce Marketplaces

Digital platforms for buying and selling.

Experiential Retail

Focus on interactive and immersive shopping experiences.

Reference Groups

Groups influencing consumer decisions.

Normative Influence

Impact of societal norms on behavior.

Descriptive Norms

What is typically done.

Injunctive Norms

What is perceived as approved.

Informational Influence

Guidance from knowledgeable sources.

Ethics

Principles guiding moral decisions in marketing.

Deontological

Focus on rules/duties.

Teleological

Focus on outcomes/consequences.

Differentiation

Features of a product or service that differentiate a brand.

Distinctiveness

Making your brand easily identified by customers.

Key Differences (Differentiation vs Distinctiveness)

Differentiation emphasizes value; distinctiveness focuses on memorability.