Consumer Behavior Study Notes
MKTG 4150 STUDY NOTES
Chapter 1: An Introduction to Consumer Behaviour
What is Consumer Behaviour?
Consumer Behaviour: 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 behaviour is a process
Buyer behaviour: the interaction between consumers and producers at the time of purchase. * Exchange (two or more organizations or people give and receive something of value) is an integral part of marketing
Consumer behaviour involves many different actors * Purchaser and the user of a product may not necessarily be the same person * Another person can also act as an influencer when providing recommendations for or against certain products without actually buying or using them
Segmenting Consumers
Market Segmentation: process of identifying groups of consumers who are similar to one another in one or more ways and devising marketing strategies that appeal to one or more groups
Demographics: statistics that measure observable aspects of a population (i.e. birth rate, age distribution, income, etc.) * Changes and trends revealed in demographic studies are of great interest to marketers since it can be used to locate and predict the sizes of markets * Markets can usually be segmented by age, gender, family structure, social class and income, ethnicity, geography, and lifestyles
Chapter 2: Perception
Exposure
Exposure: the degree to which people notice a stimulus that is within range of their sensory receptors
Sensory Thresholds
Psychophysics: the science that focuses on how the physical environment is integrated into our personal, subjective world
The absolute threshold
Absolute threshold: the minimum amount of stimulation that can be detected on a sensory channel
The differential threshold
Differential threshold: the ability of a sensory system to detect changes in a stimulus or differences between the
Chapter 1: An Introduction to Consumer Behaviour
What is Consumer Behaviour?
Consumer Behaviour: 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 behaviour is a process
Buyer behaviour: the interaction between consumers and producers at the time of purchase. * Exchange (two or more organizations or people give and receive something of value) is an integral part of marketing
Consumer behaviour involves many different actors * Purchaser and the user of a product may not necessarily be the same person * Another person can also act as an influencer when providing recommendations for or against certain products without actually buying or using them
Segmenting Consumers
Market Segmentation: process of identifying groups of consumers who are similar to one another in one or more ways and devising marketing strategies that appeal to one or more groups
Demographics: statistics that measure observable aspects of a population (i.e. birth rate, age distribution, income, etc.) * Changes and trends revealed in demographic studies are of great interest to marketers since it can be used to locate and predict the sizes of markets * Markets can usually be segmented by age, gender, family structure, social class and income, ethnicity, geography, and lifestyles
Chapter 2: Perception
Exposure
Exposure: the degree to which people notice a stimulus that is within range of their sensory receptors
Sensory Thresholds
Psychophysics: the science that focuses on how the physical environment is integrated into our personal, subjective world
The absolute threshold
Absolute threshold: the minimum amount of stimulation that can be detected on a sensory channel
The differential threshold
Differential threshold: the ability of a sensory system to detect changes in a stimulus or differences between the