Study Guide Consumer Behavior
MKTG 2910 Consumer Behavior – SP12 Final Exam Review Sheet (Rev. 5.12)
NOTE: Be familiar with/understand these terms and concepts for final exam.
Chapter 1
Why marketers study CB: Marketers who understand CB put out better products that are mutually beneficial in value to the customer and the firm. The firm can only build value by understanding what leads to high-value.
Qualitative Research: Discovery that is gathered in a relatively unstructured way (ie: interviews case analysis focus groups) they are RESEARCHER DEPENDENT requires researcher to interpret via his or her opinion.
Quantitative Research: Test research that is gathered in a relatively structured manner. Uses numerical measurement (ie: questionnaires or sales data) NOT researcher dependent results are objective.
Chapter 2
Consumer Value Framework (CVF): consumer behavior theory that illustrates factors that shape consumption –related behaviors and ultimately determine the value associated with consumption. Value lies at the heart of CVF and value results from the consumption process, which represents the decision making process of consumers seeking value.
Customer Relationship Management (CRM): Systematic management information system that collects, maintains, and reports detailed information about customers to enable a more customer-oriented managerial approach.
External Influences: Social and cultural aspects of life as a consumer.
Social Environment: Elements that specifically deal with the way other people influence consumer decision -making and value
Situational Influences: Includes the situation in which the consumer is making the purchase: Atmospherics: manipulate the retail environment (ie music) Servicescape: continuum of hedonic vs utilitarian in how the service Is presented (ie a spa vs a bank) E-store Design: multi-channel shopping
Internal Influences: Things that go on inside the mind and heart of the consumer that influence their purchase decision.
Psychology:
NOTE: Be familiar with/understand these terms and concepts for final exam.
Chapter 1
Why marketers study CB: Marketers who understand CB put out better products that are mutually beneficial in value to the customer and the firm. The firm can only build value by understanding what leads to high-value.
Qualitative Research: Discovery that is gathered in a relatively unstructured way (ie: interviews case analysis focus groups) they are RESEARCHER DEPENDENT requires researcher to interpret via his or her opinion.
Quantitative Research: Test research that is gathered in a relatively structured manner. Uses numerical measurement (ie: questionnaires or sales data) NOT researcher dependent results are objective.
Chapter 2
Consumer Value Framework (CVF): consumer behavior theory that illustrates factors that shape consumption –related behaviors and ultimately determine the value associated with consumption. Value lies at the heart of CVF and value results from the consumption process, which represents the decision making process of consumers seeking value.
Customer Relationship Management (CRM): Systematic management information system that collects, maintains, and reports detailed information about customers to enable a more customer-oriented managerial approach.
External Influences: Social and cultural aspects of life as a consumer.
Social Environment: Elements that specifically deal with the way other people influence consumer decision -making and value
Situational Influences: Includes the situation in which the consumer is making the purchase: Atmospherics: manipulate the retail environment (ie music) Servicescape: continuum of hedonic vs utilitarian in how the service Is presented (ie a spa vs a bank) E-store Design: multi-channel shopping
Internal Influences: Things that go on inside the mind and heart of the consumer that influence their purchase decision.
Psychology: