Mid Sem Notes
Consumer Behavior
Chapter 1 – Understanding Consumer Behavior
1. Define consumer behavior and explain the components that make up the definition.
2. Identify the four domains of consumer behavior shown in Exhibit 1.6 that affect acquisition, usage, and disposition decisions.
3. Discuss the benefits of studying consumer behavior
4. Explain how companies apply consumer behavior concepts when making marketing decisions.
Defining consumer behavior
Consumer Behavior: The totality of consumers’ decisions with respect to the acquisition, consumption, and disposition (distribution) of goods, services, ideas, time and idea by human decision-making units (over time).
Consumer Behavior Involves Goods, Services, Activities, Experiences, People and Ideas
Consumer behavior includes consumers’ use of services, activities, experiences, and ideas such as going to the dentist, attending a concert, and donating to UNICEF.
Involves choices about the consumption of time – how we use time reflects who we are.
Offering: A product, service, activity, experience, or idea offered by a marketing organization to consumers.
IMAGE PAFE 4
Consumer Behavior Involves More than Buying
Marketers are also interested in consumer behavior related to using and disposing of an offering.
Acquisition: The process by which a consumer comes to own an offering.
Acquiring: buying represents one type of acquisition behavior.
Includes other ways of obtaining goods and services (renting, leasing, trading, sharing) and decisions about time and money.
For example: when consumers experience a loss (i.e. make a purchase that does not work out well), they will perceive the time period until the next purchase as being shorter (because they want to remove the negative feeling).
Deadlines affect consumer behavior: consumers procrastinate in redeeming coupons and gift cards with far-future deadlines, but move more quickly when deadlines are closer.
Usage: The process
Chapter 1 – Understanding Consumer Behavior
1. Define consumer behavior and explain the components that make up the definition.
2. Identify the four domains of consumer behavior shown in Exhibit 1.6 that affect acquisition, usage, and disposition decisions.
3. Discuss the benefits of studying consumer behavior
4. Explain how companies apply consumer behavior concepts when making marketing decisions.
Defining consumer behavior
Consumer Behavior: The totality of consumers’ decisions with respect to the acquisition, consumption, and disposition (distribution) of goods, services, ideas, time and idea by human decision-making units (over time).
Consumer Behavior Involves Goods, Services, Activities, Experiences, People and Ideas
Consumer behavior includes consumers’ use of services, activities, experiences, and ideas such as going to the dentist, attending a concert, and donating to UNICEF.
Involves choices about the consumption of time – how we use time reflects who we are.
Offering: A product, service, activity, experience, or idea offered by a marketing organization to consumers.
IMAGE PAFE 4
Consumer Behavior Involves More than Buying
Marketers are also interested in consumer behavior related to using and disposing of an offering.
Acquisition: The process by which a consumer comes to own an offering.
Acquiring: buying represents one type of acquisition behavior.
Includes other ways of obtaining goods and services (renting, leasing, trading, sharing) and decisions about time and money.
For example: when consumers experience a loss (i.e. make a purchase that does not work out well), they will perceive the time period until the next purchase as being shorter (because they want to remove the negative feeling).
Deadlines affect consumer behavior: consumers procrastinate in redeeming coupons and gift cards with far-future deadlines, but move more quickly when deadlines are closer.
Usage: The process