BU432 Chapter Notes - Chapter 1: Retail, Etsy, Insurance Fraud
Document Summary
Chapter 1: an introduction to consumer behaviour: consumption communities: members share opinions and recommendations, usually people using the same products, pressure on group members to buy things for approval. Interdependence: product is part of user"s daily routine: database marketing: tracking specific consumers" buying habits closely and crafting products and messages tailored to this information. Marketing"s impact on consumers: marketing and culture, marketing, advertising affects how consumers view things, ex. Internet of things changes how we interact with products themselves: ex. Needs and wants: do marketers manipulate consumers: some argue that we focus on symbolic message of goods and not the actual value or utility they provide, ex. Illegal activities: consumer theft, shrinkage: inventory and cash losses from theft, cost is passed on to consumers through higher prices, anticonsumption, product tampering, boycotts. The role of consumer research: primary research: data collected specifically for the research question at hand, survey research, focus groups.
