What is Consumer behavior? – pg 6-8
The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.
Application of consumer behavior – pg 9-11
1) Marketing Strategy
2) Regulatory Policy
The application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole.
3) Informed Individuals
Most individuals in these societies spend more time engaged in consumption than in any other activity, including work or sleep (both of which also involve consumption).
Knowledge of consumer behavior can enhance our understanding of our environment ourselves.
Nature of Consumer Behavior
Demographics and social stratification
Ethnic, religious, and regional subcultures
Families and households
Self-Concept and Lifestyle
The totality of an individual’s thoughts and feelings about oneself
How one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them
Situations and Consumer Decisions
Consumer decisions result from perceived problems and opportunities.
Consumer problems arise in specific situations and the nature of the situation influences the resulting consumer behavior
The nature of Perception- pg 278-279, Figure 8-1
Information Processing is a series of activities by which stimuli are perceived, transformed into information, and stored.
Exposure- pg 279-283
Occurs when a stimulus is placed within a person’s relevant environment and comes within range of