RSM353H1 Study Guide - Midterm Guide: Yer, Carl Jung, Plinking

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26 Nov 2012
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Introduction to Consumer Behavior 9/24/2012 7:59:00 PM
Market segmentation strategies: targeting a brand only to a specific group
of consumers
Brands have defined images or personalities created by product advertising,
packaging, branding and other marketing strategies that focus on
positioning a product a certain way
If product succeeds getting a trust, it builds brand loyalty
WHAT IS CONSUMER BEHAVIOUR?
CB: 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
Consumer behavior is a process
o On-going process, not a momentary thing
o Exchange is integral part of marketing
Before, after or during the purchase
Consumer behavior involves many different actors
o Consumer: person who identifies a need or desire, makes a
purchase, then dispose of the product during the three stages
in the consumption process
Can be individuals or organizations/groups
o Purchaser/user
o Influencer
CONSUMERS’ IMPACT ON MARKETING STRATEGY
Firms satisfy consumers’ needs and marketers must understand the
people/organizations to do better
Knowledge about consumers is important
Since marketing is not forever, this knowledge helps to ensure the
product is appealing in the present and the future
Segmenting Consumers
o Marketing segmentation: identifies groups of consumers who
are similar to one another in one or more ways and then devises
marketing strategies that appeal to one or more groups
o Demographics: measure observable aspects of a population such
as birth rate, age distribution and income
Relationship marketing: building bonds with consumers
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o Database marketing: involves tracking consumers’ buying habits
very closely and crafting products and messages based on
information
MARKETING’S IMPACT ON CONSUMERS
Marketing and culture
o Popular culture can be a product and inspiration for marketers
o Consumer-generated content: everyday people voice their
opinions on blogs, Internet and this is the biggest marketing
phenomenon
o Web2.0: era of rebirth of the Internet as interactive medium
The meaning of consumption
o People often buy products not for what they do but for what
they mean
o Choose the brand that has an image consistent with his or her
underlying needs
o Role theory: consumer act out many different roles and alter
their consumption depending on their role at the moment
o Emphasis on building relationships with customers
The global consumer
o U-commerce: use of ubiquitous networks that will slowly but
surely become a part of us
o Globalization gives a reason to understand how customers are in
other countries differ from host
o Virtual consumption
B2C commerce
C2C commerce
Marketing Ethics and Public Policy
o Business ethics: rules of conduct that guide actions in the
market place
NEEDS AND WANTS: DO MARKETERS MANIPULATE CONSUMERS
Consumer jamming: aims to disrupt efforts by the corporate world to
dominate our cultural landscape
Green marketing: firms protect or enhance the natural environment as
they go about their business activities
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Social marketing: using marketing techniques normally employed to sell
beer or detergent to encourage positive behaviors such as increase
literacy or to discourage negative activities
THE DARK SIDE OF CONSUMER BEHAVIOUR
Addictive consumption
o Physiological or psychological dependency on products or
services
Compulsive consumption
o Repetitive shopping, often excessive done as an antidote to
tension, anxiety, depression or boredom
o Compulsive centres on the process of buying, not the purchases
themselves, impulsive buying focuses on the purchases of
products
Illegal activities
o Shrinkage: industry term for inventory and cash losses from
shoplifting and employee theft
o Anti-consumption: products and services are deliberately
defaced or mutilated
CONSUMER BEHAVIOUR AS A FIELD OF STUDY
Interdisciplinary influences on the study of consumer behavior
o CB is influenced by different perspectives
The issue of two perspectives on consumer research
o Paradigm: fundamental assumptions the researchers make about
what they are studying and how to study it
o Positivism: basic set of assumptions underlying the dominant
paradigm at this point in time
Emphasizes the objectivity of science and the consumer
as a rational decision maker
o Interpretivism: importance of symbolic, subjective experiences
and the idea that meaning is in the mind of the person-
individuals construct their own meanings based on their unique
and shared cultural experiences
Stresses the subjective meaning of the consumer’s
individual experience and the idea that any behavior is
subject to multiple interpretations rather than having a
single explanation
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