Liamxavier

Consumer behaviour - -The buying behaviour of final consumers (individuals and households who buy goods and services for personal consumption). ->Easy to study what consumers do, but much harder to figure out why they do it!<--- -Why study CB? - -To plan effective marketing strategies -Predict the effect of potential marketing actions -Understand why past marketing actions were ineffective -Avoid repeated trial and error -To help with segmentation and targeting -Factors that inf...

Consumer Behavior - -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 -4 Applications of Consumer Behavior - -1. Marketing Strategy 2. Regulatory Policy 3. Social Marketing 4. Informed Individuals -Market Analysis 4 Components - -1. The Consumers 2. The Company 3. The Competitors 4. The Con...

Is it better to invest resources into retaining current customers or attracting new fans? What is this called? - -Current. Frequency Escalator -Are sports teams recession proof? - -No -tourney pre masters - -shell houston open -5 Ps of Sports Marketing - -Product, Price, Promotion, PR, Place (product distrib) -5 Core Values of ND Athletics - -Community, Education, Excellence, Faith, Tradition -An effective sports loyalty program will... - -Reward the behavior that matters most, st...

Goal of Psychology - -to understand how our minds affect our thoughts, feelings, and actions. -Goal of Social Psychology - -to understand how other people affect our thoughts, feelings, and actions -Goal of Marketing - -to influence consumers (by creating value for them) -Goal of Consumer Behavior - -to understand how individuals, groups, and organizations select, secure, use and sips of products, services and experiences. -Internal Influences on Consumer Behavior - -perception, lear...

Which of the following is not part of the model of marketing strategy and consumer behavior presented in the text? cash flow analysis market analysis market segmentation consumer decision process - -cash flow analysis -Selecting a target market involves all of the following steps except grouping customers with similar need sets. selecting an attractive group to target. describing each group. identifying product-related need sets. All of these choices are involved. - -All of these...

Consumer Behavior - -The totality of consumer decisions with respect to the acquisition, consumption, and disposal of goods, services, time, and ideas by human decision-making unit -Customer Journey - -1. Pre-purchase: searching for products 2. Purchase 3. Post-Purchase: consumption & disposal (Consumption may be 1 time or multiple, single or shared, and public or private) (disposal: trash, recycle, or give away?) -Consumer Journey Steps Expanded - -1. Search 2. Purchase 3. Consump...

age cohort - -People who were born in the same time period and share historical experiences. -accommodation - -Modifying an existing schema to fit a new experience. -assimilation - -Applying an existing schema to a new experience. -chronosystem - -The time-based dimension that can alter the operation of all other systems in Bronfenbrenner's model, from microsystem through macrosystem. -classical conditioning - -A type of learning in which a new stimulus is repeatedly presented with ...

Consumer Behavior - -Set of value- seeking activities that take place as people go about addressing their real needs -Want - -A specific desire representing about a way a consumer may go recognized need addressing a -Exchange - -Acting out of the decision to give something up in return for something perceived to be of greater value -Costs - -Negative results of consumption experiences -Benefits - -Positive results of consumption experiences -Consumption - -Process by which consume...

Marketing Strategy, Regulatory Policy, Social Marketing, Informed Individuals - -What are the four major uses or applications of an understanding of consumer behavior? -Marketing strategy - -How will we provide superior customer value to our target market? -Regulatory Policy - -Various bodies exist to develop, interpret, and or implement policies designed to protect and aid customers such as the Nutrition Labeling and Education Act which is an example of a... -Social Marketing - -The ap...

reference groups - -involves one or more people used as a basis for comparison or point of reference in forming affective and cognitive responses and performing behaviors. -types of reference group influences - -Informational reference group influence, utilitarian reference group influence, and value-expressive group influence. -informational reference group influence - -transmits useful information to consumers about themselves, other people, or aspects of the physical environment such as...