MGMT 105 Lecture Notes - Lecture 4: Consumer Behaviour

• School: UC-Irvine
• Department: Management
• Course: MGMT 105
• Professor: Vanessa Sheppard

Document Summary

Demographics: the study of people"s vital statistics such as age, race, education level. Purchasing power: a comparison of income versus the relative cost of goods in different geographic areas. Inflation: measure of the decrease in the value of money. Recession: a period of economic activity characterized by negative growth. Basic research: aims to confirm an existing theory or to learn about a concept phenomenon. Applied research: an attempt to develop new or improved products. Demographic studies about what their consumers want. Awareness, usage, attitude (aua): awareness, usage, attitude: understanding how a consumer uses it thinking and feeling about the brand. How consumers use and dispose of products. : how long a product stays on the shelf. 1. need recognition: imbalance between actual and desired states. 3. evaluation of alternatives: create an evoked set: group of brands from which a buyer can choose. 5. post purchase behavior: cognitive dissonance = inner tension that a consumer experiences after recognizing inconstancy between the purchase and values.