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Consumer Behavior

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The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs.

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Personal Consumer

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The individual who buys goods and services for his or her own use, for household use, for the use of a family member, or for a friend.

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Organizational Consumer

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A business, a profit or non-profit institution or a government agency, that buys the goods, services, and/or equipment necessary for the organization to function.

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Developing of Marketing Concept

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production orientation: sales orientation: marketing concept.

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Marketing Concept

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in order to be successful, a company must determine the needs and wants of specific target markets and deliver the desired satisfactions better than the competition.

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Implementing marketing concept

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consumer research, segmentation, market targeting, positioning

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Consumer Research

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The process and tools used to study consumer behavior

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Segmentation

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Dividing the market into subsets of consumers with common needs or characteristics

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Market Targeting

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Selecting one or more identified segments to pursue

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Positioning

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Developing a distinct image for the product in the consumer's mind, communicating product benefit and a unique selling proposition.

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Marketing Mix

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Product, Price, Place, Promotion

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Customer Value

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The ratio between the customer's perceived benefits and the resources used to obtain those benefits

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Customer Satisfaction

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The individual's perception of the performance of the product or service in relation to his or her expectations

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Loyal Customers

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Buy more products, are less sensitive to price and competitors' advertising, Are cheaper to serve (know company procedures), Spread positive word of mouth

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Customer Trust

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Establishing and maintaining trust is the essential foundation for maintaining a long-standing relationship with customers

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Customer Profitability-Focused Marketing

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Track costs and revenues of individual consumers, categorizes them into tiers based on consumption behavior,a customer pyramid groups customers into four tiers (Platinum, gold, iron, lead)

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Traditional Marketing Concept

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Make only what you can sell, not try to sell what you make. Focus on the need, not the product. Match customers' needs better than competitors.

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Value and Retention Focused Marketing

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Use technology that enables customers to customize what you make. Focus on the product's perceived value, and the need it satisfies. Understand customer needs and offerings that customers perceive as being more valuable than competitors'.

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Inductive Logic

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From specifics to generalities

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Deductive Logic

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From generalities to specifics

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Secondary Research

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Information that has been collected for reasons other than the specific research project at hand . Includes internal and external data.

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Primary Research

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Original research conducted to answer specific research questions. qualitative and quantitative

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Internal Data

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Generated in-house. May include analysis customer files. Useful for calculating customer lifetime value.

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External Data

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Collected by outside organizations. Includes governments, periodicals, newspapers, books, search engines. Commercial data is also available from market research firms.

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Qualitative Research

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Depth interviews, focus groups, projective techniques, metaphor analysis. Administered by highly trained interviewer analysts. Findings tend to be subjective. Small sample sizes.

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Depth interviews QCM

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Also called one-on-one interview. Usually 20 minutes to an hour (may be longer). Non-structured. Interviewer will often probe to get more feedback. Session is usually recorded.

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Focus Group QCM

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8-10 participants. Respondents are recruited through a screener questionnaire. Last about 1 to 2 hours. Audio- or videotaped to assist analysis. Often held in front of two-way mirrors. Online focus groups are growing.

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Projective Techniques

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Word Association Techniques, Completion Techniques, Picture & Visual Techniques.

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Word Association Techniques

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Simple, Controlled, Successive.

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Completion Techniques

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Sentence,Story.

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Picture & Visual techniques

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Thematic Apperception Technique (TAT)/Story Telling, Cartoon Test

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ZMET

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combines collage research and metaphor analysis to bring to the surface the mental models and the major themes or constructs that drive consumer thinking and behavior.

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Quantitative Research

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Descriptive in nature. Enables marketers to "predit" consumer behavior (positivism). Research methods include surveys, experiments, and observation. Findings are descriptive, empirical, and can be generalized to larger populations.

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Observational Research

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A form of consumer research that relies on observation of consumers in the process of buying and using products.

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Ethnography

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The study of behavior in its naturally occurring context.

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Experimentation

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A research technique that evaluates how a change in a certain variable or combination of variables affect consumer behavior.

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Validity

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The degree to which a measurement instrument accurately measures what it is designed to measure,

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Reliability

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The degree to which a measurement instrument is consistent in what it measures.

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Liker Scale

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Easy to prepare and interpret; simple for consumers to answer

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Semantic Differential Scale

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Relatively easy to construct and administer

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Behavior Intention Scale

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Also easy to construct and administer

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Rank-order scale

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Subjects rank items in order of preference in terms of some criteria.

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Customer Satisfaction Measurement

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Customer Satisfaction Surveys, Mystery shoppers and customer complaint analysis

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Samples

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a subset of the population used to estimate characteristics of the entire population.

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Sampling Plan

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Adresses whom to survey, how many to survey and how to select them.

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Probability Sampling

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Simple random sample, systematic random sample, stratified random sample, cluster (area) sample

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Non-probaility Sampling

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Convenience sample, judgement sample, quaota sample and incremental sample

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Effective Segmenting

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Identifiable, Sizeable, Stable and Accessible

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Geodemographic Segmentation

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A hybrid segmentation scheme based on the premise that people who live close to one another are likely to have similar tastes, preferences,lifestyles and consumption habits.

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Psychographics

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A person's activities, interests and opinions, which help form attitudes toward various issues; a lifestyle.

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Psychological S-CS

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dealing with individuals

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Sociological S-CS

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dealing with groups

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Anthropological S-CS

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dealing with cultures

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Consumption-Specific Segmentation

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Usage rate( levels of awareness, non-users, light-users, heavy users. level of involvement) Use-situation Segmentation(Special occasions or situations) Benefits Sought (represent consumer needs (Important for positioning)

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Micro- and behavioral targeting ISS

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personalized advertising messages, narrowcasting(email, mobile) Use of many data sources

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Concentrated Marketing ISS

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one segment

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Differentiated ISS

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Several segments with individuals marketing mixes

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Counter segmentation ISS

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Combining existing segments into a smaller number to more efficiently manage the market) Ex: GM dropping oldsmobile, pontiac, saturn.

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Innate Needs

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Physiological (or biogenic) needs that are considered primary needs or motives

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Acquired Needs

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Learned in response to one's culture or environment. Are generally psychological and considered secondary needs.

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Primary/Physiogenic/Biogenic Needs CS

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Positive or supply needs ( call for the consumption of something- food, water, etc.) Negative or avoidance needs (Sex for procreation)q

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Secondary/ Psychogenic Needs CS

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Ego defensive needs, ego bolstering needs, Affecxtional needs (love, friendship etc.)

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Rational Motives

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Consumers select goals based on totally objective criteria, such as size, weight, price or miles per gallon

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Emotional Motive

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Selection of goals according to personal or subjective criteria

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Dynamics of Motivation

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Needs for constantly changing in response to life experiences. Needs are never fully satisfied or once satisfied, they reappear, e.g., hunger. New needs emerge as old needs are satisfied. People who achieve their goals set new and higher goals for themselves.

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Goals

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the sought-after results of motivated behavior.

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Generic goals

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general categories of goals that consumers see as a way to fulfill their needs

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Product-Specific Goals

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are specifically branded products or services that consumers select as their goals

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Selection of Goals

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personal experiences, physical capacity, prevailing cultural norms and values, goal's accessibility in he physical and social environment

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Substitute Goals

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Are used when a consumer cannot attain a specific goal he/she anticipates will satisfy a need. The substitute goal will dispel tension. Substitute goals may actually replace the primary goal over time.

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Frustration

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Failure to achieve a goal may cause frustration. Some adapt; others adopt defense mechanisms such as aggression, rationalization, regression, withdrawal, etc. to protect their ego.

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Arousal of Motives

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Physiological arousal, emotional arousal, cogntivie arousal, environmental arousal

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Behaviorist School

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Behavior is response to stimulus. Elements of conscious thoughts are to be ignored. Consumer does not act, but reacts.

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Cognitive School

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Behavior is directed at goal achievement. Needs and past experiences are reasoned, categorized, and transformed into attitudes and beliefs.

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