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Segmentation

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Demographic, Geographic, Psychographic, Behavioral, and Benefits Sought

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Targeting

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Size, Rate of Growth, Competition, Resources, Accessible, and Measurable

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Positioning

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By Benefit, By User, or Competitive

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Consumer Behavior

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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.

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80/20 Rule

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20 percent of users account for 80 percent of sales.

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Demographic

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Segmentation that describes others by looks or character; Gender, Age, Income, Education, Occupation, Race, Religion, Marital Status etc.

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Psychographics

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Segmented by characteristics; Value, Hobbies, and lifestyles.

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Geopraphics

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Segmented by location and where we live; Regions, States, Countries, or Provinces.

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Behavioral

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Segmented based on usage; Light vs Heavy user, Brand Loyalty

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Benefit

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Segmented on how one product can benefit your wants and needs.

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Product

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Physical Inventory, tangible

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Service

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Experience quality, intangible; Processes, People, and Physical Evidence

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Process (service)

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training program, sales process

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People (service)

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Looking for personal evidence, experience quality

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Physical Evidence (Service)

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Performance

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4 P's of marketing program

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Product, Price, Place, and Promotion

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Consumer Behavior Process

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Pre-Purchase, Post-Purchase, Purchase

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Post-Purchase Cognitive Dissonance

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Having a second thought after purchasing a product; Buyers remorse

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Role Theory

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We as consumers are "actors" in a play; we purchase depending on role at time

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Self-Concept

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Products that express our identity and who we are; SIU t-shirt, coach bag, rolex

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Nostalgic

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Products that reminds us of the past; ninja turtles, mustang

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Interdependence

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Products that are apart of our daily routine; toothpaste, deodorant, coffee

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Love

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Products that elicits strong emotions; Flowers, jewelry, cards

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Positivist

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modernism; encourages us to stress the function of objects, to celebrate technology and to regard the world as a rational, ordered place with a clearly defined past, present and future.

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Interpretivism

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postmodernism; this perspective argues that our society emphasizes on science and technology too much. This ordered rational view of behavior denies or ignores the complex social and cultural world in which we live.

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Marketing Research

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Surveys, Focus groups, Experiments, Observation, Sampling and Perceptual mapping

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Sensation

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An immediate response to our sensory receptors to basic stimuli.

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Sensory Receptors

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See, Taste, Smell, Touch and hear.

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Basic Stimuli

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Light, color, odor, sound and texture.

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Perception

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The process by which we select, organize and interpret sensations; how we give them meaning.

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Hedonic Consumption

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Reflects our emotional interaction with products.. among competing products, we often value form over function; what a product says about us is often more important than what it actually does.

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Atmospherics

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Soft music, lighting, store layout, appearance of staff and scents in the air that attract us to certain retail establishments and set a mood that increases our propensity to buy.

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Absolute Thresholds

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The minimum amount of stimulation a person can detect on a given sensory channel.

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Differential Thresholds

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The ability of a sensory system to detect changes in or differences between two stimuli.

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Weber's Law

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The stronger the initial stimulus, the greater a change must be for us to notice it.

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Subliminal Perception

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A stimulus below the level of the consumer's awareness.

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Sensory Overload

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Exposed to far more information than one can process

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Schema

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Seeing something new and placing it with its right category.

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Semiotics

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The correspondence between signs and symbols and their roles in how we assign meanings.

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Object

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The product that focuses on the message; Marlboro cigarettes

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Sign

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The sensory image that represents the product image; cowboy

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Interpretant

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What we derive from the sign; rugged, individualist, american

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Icon

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A sign that resembles the product in some way; mustang horse

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Index

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A sign that connects to a product because they share some property; pine tree for pine sol

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Symbol

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A sign that relates to a product by either conventional or agreed-on associations; Medusa head Versace

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Observational Learning

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We don't have to experience it ourselves, we can see someone else having the experience.

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Incidental Learning

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We learn even when we're not making a conscious effort.

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Learning

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We're exposed to new stimuli, we receive feedback that causes us to modify out behavior, when we find ourselves in a similar situation later on, we recognize it because it's now part of our schema.

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Behavioral Learning

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We learn as the result of responses to external events; black box of what goes in and what comes out

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Classical Conditioning

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Stimulus that elicits a response on its own.

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Unconditioned Stimulus

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Paired with another stimulus that, on its own, wouldn't elicit a response; later becomes a conditioned stimulus

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Conditioned Stimulus

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If repeated enough, produces a response on its own. (Pavlov)

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Instrumental Conditioning

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We learn to perform behaviors that produce positive outcomes and avoid those that produce negative outcomes; rewarded after behavior.

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Cognitive Learning

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Views customers as problem solvers who use information to control their environment.

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Memory

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A process of acquiring, storing, and retrieving information.

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Evoked Set

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Those products already in memory plus those prominent in the retail environment that are actively considered during a consumer's choice process.

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Consideration Set

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The products a consumer actually deliberates about choosing.

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Recall

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To independently think about a product; recall what was seen.

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Recognition

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To recognize a product by given clues or examples; have you seen this.

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Motivation

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The process that leads or drives people to behave as they do; occurs when a need is aroused that we need to satisfy.

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Utilitarian need

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Basic needs; hunger, thirst

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Hedonic need

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Psychological need; status, loved

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Approach-Approach

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Positive outcomes and conflicted between which one should you choose; vacation (conflict)

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Approach-Avoidance

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Attracted to something but has a downside to it; eating a burger (conflict)

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Avoidance-Avoidance

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conflicted, have to make a choice but both have a downside

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Henry Murray

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Need for affiliation, play, achievementt, uniqueness, power

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Values

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Belief that one condition is preferable to another.

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Core Values

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Deeply-held values that guide our actions

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Materialism

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Value possession; the more expensive the more you like and care about it.

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Globalization

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The world is coming closer together

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Standardize strategy

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Keep product the same all around the world; Coca Cola

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Localized strategy

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change product to fit the economy; McDonalds in China vs USA

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Self Concept

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Our beliefs about our own attributes and how we evaluate ourselves on these qualities; influences our consumption patterns. We strive to fulfill society's expectations about how we should look and act.

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Self Esteem

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We either feel good about ourselves and spend more time on ourselves (high) or we feel badly and lack confidence and spend more time with others (low)

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Social Comparison

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We evaluate ourselves relative to people appearing in ads; search for standards or anchors

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Ideal Self

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Conception of how we'd like to be

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Actual Self

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Realistic appraisal of how we really are.

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Impression management

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We try to manage what others think of us; We choose clothing and other products to portray us in a positive light.

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Security Blankets

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We attach to products/objects that we rely on to maintain our self-concept

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Body Image

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We buy products to look like the models that wear them.

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