Ba 492 Midterm Study Guide Consumer Behavior

Consumer Behavior- BA 492: Midterm Study Guide
Chapter 1: Buying, Having, and Being * Consumer Behavior: study of processes involved when people or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy their needs and desires. * exchange—a transaction where two or more organizations or people give and receive something of value—is an integral part of marketing. * The expanded view emphasizes the entire consumption process. This view would include issues that influence the consumer before, during, and after a purchase. * Consumer: person who identifies a need or desire, and purchases the product. * 3 types: purchaser, user, or influencer * Can also be an organization
There are many ways to segment a market. * 80/20 Rule: 20% top consumers account for 80% profits * Can segment based on usage, demographics, or psychographics * Demographics: age, race, income, gender, education, family structure, geography (US Census Bureau) * Psychographics: personality, lifestyle * Relationship marketing interact with consumers regularly, maintain bond (Apple) * Database marketing: tracking specific consumers’ buying habits and crafting products and messages tailored precisely to people’s wants * Popular culture: marketers influence preferences for goods (like new years, Christmas..) and the way we evaluate others based on products they own * Cultivation Theory: impacts through affluence is depicted in media (and distorts reality) * Meaning of consumption: people often buy products not for what they DO but for what they MEAN * Consumers can develop relationships with
i.e. experiment of telling story about old people, and they in turn, walked slower 3. i.e. holding warm drink was more apt to help vs. cold drink 4. i.e. bottom right on package means heavier or more calories, like Oreos * Humanization (anthropomorphize)- like making M&Ms have faces * Human schema: make object more human (like blender) but if blender breaks- we have more negative feelings associated with it * Stimulus organization * Gestalt: the whole is greater than the sum of the parts * Closure Principal: perceive incomplete picture as complete * Principal of Similarity: group together objects that share similar physical characteristics * Figure ground: the figure will dominate as background recedes * Semiotics: correspondence studies the correspondence between signs and symbols, and their roles in how we assign meanings * Literal (like a stop sign) or Indexical (red=danger) * Object: product that is the focus of the message (Marlboro cigarettes) * Sign: Image that represents intended meanings of object (Marlboro cowboy) * Interpretant: meaning we derive from sign (rugged, individualistic,