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Exam 1 Study Guide
Buyer Behavior (MK 4100)
Georgia State University
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Buyer Behavior: EXAM 1 LECTURE 1: 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. Stages in the consumption process: 1. 1. Purchase 3. Marketers must understand the various consumer segments they are targeting in order to meet the needs. Segmenting Consumers: Demographics statistics that measure observable aspects of a population. Some of the most common demographic measures are age, gender, family structure, social class, race or ethnicity, and geography. Phychographics Lifestyles can be useful to marketers in that consumers may share demographic characteristics but have very different lifestyles. Marketers try to understand their customers and develop lifelong relationships. Marketers who follow this approach are said to follow the philosophy of relationship marketing. Big Data The collection and analysis of extremely large datasets. Create 2 quintillion tes of data daily. Relationships: Role Theory: attachment: means the product helps to establish the identity. Nostalgic Attachment: Product serves as a link to the past. Interdependence: Product is a part of the daily routine. Love: Product elicits emotional bonds of warmth, passion, or strong emotions. Motivation: Processes that lead people to behave as they do. It occurs when a need is aroused that the consumer wishes to satisfy. Need: Creates a state of tension that drives the consumer to attempt to reduce or eliminate it. May be a desire to achieve a functional or practical benefit. (EX: eating veggies for nutrition) Want: Digital Native: Social Media B2C : Business to consumer C2C Consumer to consumer (EX: etsy, ebay, depop, poshmark etc.) Digital Native: Originated in 2001, they grew up in a highly networked world with digital technology. Synchronous Interactions: Occurs in real time (EX: texting, talking on the phone) Asynchronous Interactions: require all participants to respond immediately NOT real time. (EX: texting a friend and they respond the next day) Paradigm: Set of beliefs that guide our understanding Positivism or Modernism: Emphasizes that human reason is supreme and there is a single, objective truth that science can discover. Celebrate technology and understand the world has a clear past, present, future. (EX: realistic, rational, reasoning) Post Modernism or Interpretivism: Questions modernism, argues that societal beliefs deny the complex social and cultural world in which we live. Too much emphasis on science. (EX: emotional, LECTURE 2: Consumer and Social Marketing Ethics and Public Policy: Business ethics: Rules of conduct that guide actions in the market place. Food desert: Census tract where of population or 500 people live more than a mile from a grocery store in urban area or more than 10 miles in rural area. Media Literacy: ability to access, analyze, evaluate and communicate information in variety of forms including print and messages. Functionally illiterate: reading skills are not adequate to carry out everyday tasks such as reading newspaper or instructions on pill bottle. adults are FI. Triple Orientation: Refers to business strategies that strive to maximize return in 3 ways: Financial Social Environmental Green Marketing: Describes a strategy that involves development and promotion of environmentally friendly products and stressing this attribute when manufacturer communicates with customers. Green Washing: Occurs when companies make false or exaggerated claims about how environmentally friendly their products are. LOHAS Acronym for of health and This label refers to people who worry about the environment, want products to be produced in a sustainable way, and spend money to advance what they see as their personal development and potential. Trading or reselling used products, sold person to person rather than traditional market systems. Addictive Consumption: Consumer addiction ( social media addiction) Cyberbullying: willful and repeated harm inflicted through the use of computer, cell phones, and other electronic devices. Phantom Vibration Syndrome: Tendency to habitually reach for your cell phone because you feel it vibrating even when its off or don even have it. Compulsive consumption: Repetitive and often excessive shopping performed as an antidote to tension, anxiety, depression or boredom. Dark Side of consumer behavior: Illegal Acquisition and product use Shrinkage: Inventory and cash losses from shoplifting and employee theft. Serial Wardrobes: Buy an outfit, wear it once and return it. Customers who change price tags on items then return for higher amount. Shoppers who use fake or old receipts when they return product. Counterfeiting: Companies or individuals sell fake versions of real products to customers. Relates to events in which people deliberately deface or mutilate products or services. LECTURE 3: Perception Sensory Marketing Means that companies pay extra attention to how our sensations affect our product experiences. Marketers recognize that our senses help us to decide which products appeal to us. In addition to scent and sight, sound, touch, and taste are also relevant. Hedonic Consumption: How consumers interact with the emotional aspects of products. In other words, products are rarely strictly functional. (EX: vision, scent, sound, touch, taste) Trade dress: is when some color combinations come to be so strongly associated with a corporation. (EX: the blue from Color forecasts: Colors that manufacturers and retailers buy so they can be sure they stock up on the next hot hue. (EX: Pantone, Inc. (one of these color arbiters) identified naturally robust and earthy wine the color of the year for 2015.) Use of Sound: Audio Water marketing: Brands can use audio water marketing to encourage the retention of the message, when producers weave a consistently into messaging. Use of touch: Kansei engineering: A philosophy that translates feelings into design elements. Popular with Japanese companies. Haptic (Touch) Use of taste: Biological factors Cultural factors Refers to the meaning we assign to sensory stimuli, which is based on a schema, or set of beliefs, to which we assign it. Stimulus Organization Gestalt: The whole is greater than the sum of its parts. Closure: people perceive an incomplete picture as complete Similarity: consumers group together objects that share similar physical characteristics one part of the stimulus will dominate (the figure) while the other parts recede into the background (ground) Semiotic Relationships Semiotics: Discipline that studies the correspondence between signs and symbols and their roles in how we assign meanings. Icon: is a sign that resembles the product in some way (EX: the Ford Mustang has a galloping horse on the hood). Index: is a sign that connects to a product because they share some property (EX: the pine tree on some of Procter Spic and Span cleanser products conveys the shared property of fresh scent). Symbol: is a sign that relates to a product either conventional or associations (EX: the lion in Dreyfus Fund ads provides the conventional association with fearlessness and strength that it carries) LECTURE 4: Learning and Memory Learning: Relatively permanent change in behavior caused experience Incidental learning: We recognize many brand names and hum many product jingles, for example, even for products we personally use. We call this casual, unintentional acquisition of knowledge incidental learning. Types of behavioral learning Classical conditioning: A stimulus that elicits a response is paired with another stimulus that initially does not elicit a response on its own. (EX: the office vid with altoids and windows computer sound) Components of conditioning: Unconditioned stimulus: Altoids Conditioned stimulus: Computer sound Conditioned response: Eating the altoids when sound played. Instrumental conditioning (or operant conditioning): The individual learns to perform behaviors that produce positive outcomes and to avoid those that yield negative outcomes. (Psychologist B. Skinner) Can be positive reinforcement (reward) , negative reinforcement or punishment. Extinction occurs when there is no reinforcement, the conditioning is not activated because its not reinforced. Instrumental conditioning in marketing: Frequency marketing: Reinforces regular purchases giving them prizes with values that increase along with the amount purchased (EX: frequent flyer miles). Store and brand loyalty: Foursquare gives people virtual badges when they check in Social marketing: Customers can compare their progress with their and broadcast their achievements on Facebook. Employee performance: Rank the performances of waiters on a leaderboard, rewarding the good ones with plum shifts and more lucrative tables. Stimulus Stimulus generalization (or halo effect): Tendency of stimuli similar to a CS to evoke similar, conditioned responses. (EX: Pavlov noticed in subsequent studies that his dogs would sometimes salivate when they heard noises that only vaguely resembled a bell, such as keys jangling.) Stimulus Discrimination: When a UCS does not follow a stimulus similar to a CS. When this happens, reactions weaken and will soon disappear. Brand Equity: A brand has strong positive associations in a memory and commands a lot of loyalty as a result.
Exam 1 Study Guide
Course: Buyer Behavior (MK 4100)
University: Georgia State University
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