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ADM3321- Midterm Exam Guide - Comprehensive Notes for the exam ( 13 pages long!)


Department
Administration
Course Code
ADM 3321
Professor
Michael Mulvey
Study Guide
Midterm

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UOttawa
ADM3321
MIDTERM EXAM
STUDY GUIDE

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Chapter(1:(Introduction(to(Consumer(Behaviour(
Legacy'of'Insight'about'CB:'
- Peter'Drucker:'develop'a'sustainable'competitive'advantage'
- Bob'Lauterborn:'focus'on'knowing'your'customers'
- Theordore'Levitt:'focus'on'customer'needs,'importance'of'benefits'
- Sid'Levy:'purchases'are'tied'with'their'meanings'and'the'symbols'that'are'associated'
- Ernest'Dichter:'focused'on'the'feelings'and'emotions'attached'with'purchases'(buying'
impulse)'
'
Consumer'Behaviour:'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'
'
Consumption'Process:'
- Pre-purchase'Issues'
- Purchase'Issues'
- Post-Purchase'Issues'
'
Example:'Father'of'the'Bride'Movie'(consumer'roles'and'goals)'
- User:'Daughter'
o Product'or'service'performs'as'desired,'to'provide'cherished'moments'
o Delivery'of'social'and'emotional'benefits'
- Payer:'Father'
o Low'cost,'ease'of'making'payments'
o Maximize'buying'power'
- Buyer:'Mother'
o Looking'for'convenience,'not'too'time'consuming,'fits'within'timeline'
- Influencer:'Wedding'Planner'
o Ability'to'leverage'network'of'contacts,'there'to'advise'bride'and'family'
o Holistic'thinker'who'organizes'events'based'on'individual'decisions'
'
Consumerism:'a'movement'advocating'greater'protection'of'the'interests'of'consumers'
'
Example:'Wedding'Bells'Video'
- Some'groups'of'consumers'are'vulnerable'to'“ripoffs”'when'inexperienced'
- Even'savvy'consumers'can'be'mislead'and'overwhelmed'in'certain'situations'
- Reasoning'is'often'overtaken'by'emotions'in'consumer'decision-making'
- *Ethical'business'is'good'business.'Bad'business'practices'can'create'a'business'
opportunity'for'ethical'entrepreneurs'
'
The'Dark'Side'of'CB:'Consumers’'desires,'choices,'and'actions'often'result'in'negative'
consequences'to'the'individual'or'society'
o Addictive'consumption'
o Compulsive'consumption'
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o Illegal'activities'(ex.'consumer'theft)'
'
'
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