MKT 3411 Study Guide - Quiz Guide: Business Ethics, Individualism, Mazda Mx-5
Document Summary
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. Consumer: a person who identifies a need or desire, makes a purchase, and then disposes of the product. Knowledge and data about customers: help to define the market. Marketing concept: consumers have needs and wants and firms satisfies those needs. Demographics: statistics that measure observable aspects of a population, such as: age, sex, family structure, social class/income, race/ethnicity, geography. Psycographics: (subjunctive personalities) the way we feel about ourselves the things we value the things we do in our spare time. Consumer-generated content: when everyday people voice their opinions about products, brands, and companies on blogs, podcasts, and social networking sites such as facebook. The meaning of consumption: people often buy products not for what they do, but what they mean.
