MKTG 3710 Lecture Notes - Lecture 1: Clinical Psychology, Big Data, Belongingness
Document Summary
Chapter 1 foundations of consumer behavior notes. Demographics age, gender, income, occupation (descriptive characteristics of population) Consumption communities web groups where members share views and product recommendations online. Market segmentation strategy targeting a brand only to specific groups of consumers who share well-defined and relevant characteristics. Consumer behavior the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires: it is a process. Exchange a transaction in which 2+ orgs or people give and receive something of value. Consumer person who identifies a need or desire, makes a purchase, and then disposes of the product during the three stages of the consumption process. Obj2: marketers have to understand the wants and needs of different consumer segments. Heavy users the most faithful consumers in a market.
