BU432- Final Exam Guide - Comprehensive Notes for the exam ( 41 pages long!)
Document Summary
What is consumer behaviour (cb)? (cid:862)the stud(cid:455) of the pro(cid:272)esses i(cid:374)(cid:448)ol(cid:448)ed (cid:449)he(cid:374) i(cid:374)di(cid:448)iduals or groups sele(cid:272)t, pur(cid:272)hase, use, or dispose produ(cid:272)ts, ser(cid:448)i(cid:272)es, ideas, or e(cid:454)perie(cid:374)(cid:272)es to satisf(cid:455) (cid:374)eeds a(cid:374)d desires (cid:863) Starbucks, and a perceived happiness associated, an external need for socialization, caffeine- dependency, and having enough $ to afford it, and 4ps of it being readily-available, having a good loyalty program, and it being advertised as fair trade. Lifestyle: how should the information be obtained, primary data, expensive, time consuming, harder to collect, specific to immediate need, secondary data, can be outdated or biased. Jeans & t-shirts: how you promote to people may be shaped by secondary data. If someone typically spends x but you want them to spend y, give them promotions to entice them to do so: might send you reminder emails if you stop coming in as often. Observation: useful to observe in-store behavior, situational factors that affect decision making, customer- employee interaction.
