Introduction to Consumer Behavior Flashcards

Vocabulary practice flashcards covering the core pillars, models, and frameworks of consumer behavior based on the lecture notes.

Consumer Behavior

The study of individuals, groups, or organizations and the procedures they use to select, procure, use, and dispose of products, services, ideas, or experiences to satisfy their needs and wants, and the impacts these processes have on consumers and society.

Economics (Pillar of Consumer Behavior)

A core pillar explaining how consumers make purchase decisions based on price, income, and perceived value.

Psychology (Pillar of Consumer Behavior)

A core pillar explaining how different emotions, perceptions, attitudes, and motivations influence buying behavior.

Sociology (Pillar of Consumer Behavior)

A core pillar explaining how family, peers, social status, and reference groups shape consumer decisions.

Anthropology (Pillar of Consumer Behavior)

A core pillar explaining how culture, traditions, and societal values influence consumer patterns.

Market-Controlled Stimuli

External stimuli consisting of product, price, place (distribution), and promotion (communications) that trigger a consumer's need to purchase.

Environmental Stimuli

External stimuli including cultural, economic, technological, political, family, and reference group factors that trigger consumer needs.

Consumer Black Box Model

A model explaining how external marketing and environmental stimuli are processed inside the consumer's mind (the 'black box') based on consumer characteristics and decision-making processes to yield a buying response.

Intervening Variables

The consumer characteristics—including geographic, demographic, psychographic, and behavioral factors—that process external stimuli within the black box to determine the consumer's response.

Self-Concept

How a consumer views themselves, shaped by external (sociological) and internal (psychological) stimuli.

Lifestyle

How a consumer wants to lead their life, formed by sociological and psychological influences.

Framework of Consumer Behavior

A cyclical model demonstrating how external and internal stimuli build self-concept and lifestyle, driving needs and desires through the decision process, leading to post-purchase experiences that inform future stimuli.

7 Os Framework

A foundational marketing framework that analyzes consumer behavior across seven core dimensions: Occupant, Object, Objective, Occasion, Outlet, Organization, and Operations.

Occupant (7 Os)

The element of the 7 Os framework that answers 'who is buying the product' in terms of demographic, psychological, and social identity.

Object (7 Os)

The element of the 7 Os framework that answers 'what does the consumer buy' regarding the product, brand, features, size, and variant.

Objective (7 Os)

The element of the 7 Os framework that answers 'why the consumer is buying the product,' covering sought benefits, satisfied needs, and underlying motives.

Occasion (7 Os)

The element of the 7 Os framework that answers 'when does the consumer buy the product' in terms of situation, timing, and purchase frequency.

Outlet (7 Os)

The element of the 7 Os framework that answers 'where is the product bought,' highlighting distribution channels, payment methods, and information gathering.

Organization (7 Os)

The element of the 7 Os framework that answers 'who influences the purchase' by evaluating the roles of influencers, deciders, purchasers, and end-users.

Operations (7 Os)

The element of the 7 Os framework that answers 'how involved the consumer is' based on the evaluation of risk associated with the purchase.

Consumer Involvement

The degree of interest or engagement a consumer displays in a purchase, which depends on financial, social, physical, or psychological risks.