Consumer Behavior Lecture Notes

A set of flashcards covering key vocabulary terms and concepts from the Consumer Behavior lecture notes.

Consumer Behavior

The study of how individuals decide to acquire, use, and dispose of products, services, ideas, or experiences.

Marketing Action

The strategies and tactics (including the 4 Ps: Product, Price, Place, Promotion) employed to reach and influence consumers.

Inverted-U Relationship

A theoretical model suggesting that initial increases in advertising frequency can boost sales, but excessive exposure may lead to diminishing returns.

Habituation

The process by which consumers become desensitized to repeated stimuli, leading to decreased attention over time.

Affect Transference

The phenomenon where consumers develop negative attitudes towards a product based on their negative feelings about the advertisement.

Black Box of Consumer

The mental processes that determine consumer responses, including perception, cognition, and emotional responses.

Consumer Acquisition

The process of obtaining goods or services, including decisions on whether to buy, how much to pay, and where to purchase.

Disposing

The actions following consumption, such as recycling, donating, or throwing away products.

Interdisciplinary Influences

Consumer Behavior is informed by various fields including marketing, psychology, sociology, anthropology, and economics.

Market Segmentation

The practice of dividing a target market into smaller, more defined categories based on characteristics like functionality or ease.

Confirmation Bias

The tendency to search for, interpret, and remember information that confirms one's preexisting beliefs, leading to biased decision-making.

Egocentric Bias

The inclination to rely on one's own perspective as a standard for understanding consumer behavior, which may not represent the average consumer.