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Study Guide 2013 Ch1 - 4 (got 93% on the test)

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MKT 3411
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Dr Niedrich MKT 3411 CONSUMER BEHAVIOR STUDY GUIDEChapter 1 An Introduction to Consumer Behavior1 What is marketing a What are exchange relationships b Discuss different exchange partners 2 What is 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 3 Consumers Impact on Marketing Strategy a What is market segmentation Targeting a brand only to specific groups of consumers who share welldefined and relevant characteristics b What is positioning An organizations use of elements in the marketing mix to influence the consumers interpretation of a products meaning visvis competitors c What is relationship marketing The strategic perspective that stresses the longterm human side of buyerseller interactions d What is database marketing Tracking consumers buying habits very closely and then crafting products and messages tailored precisely to peoples wants and needs based on this information 4 Marketings Impact on Consumers a How do the actions of businesses affect consumers b Discuss marketings affect on popular culture i What is popular culture The music movies sports books celebrities and other forms of entertainment consumed by the mass market c What does it mean to consume i Discuss consumers relationships with products Consuming a product can make a lifestyle statement about the type of person you are or wish you were ii What is role theory The perspective that much of consumer behavior resembles actions in a play d What is the digital native Young people who have grown up with computers and mobile technology multitaskers with cell phones music downloads and instant messaging on the Internet Who are comfortable communicating online and by text and IM rather than by voice i Discuss C2C ecommerce social media and usergenerated content Conumsertoconsumer ecommerce consists of consumer interaction online Usergenerated content where everyday people voice their opinions about products brands and companies on blogs podcasts and social networking sites is the biggest marking phenomenon of this decade 5 Marketing Ethics and Public Policy1
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