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Consumer Behavior

by: Russ Considine

Consumer Behavior MKT 463

Russ Considine
GPA 3.63

Phillip Niffenegger

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Phillip Niffenegger
Class Notes
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This 4 page Class Notes was uploaded by Russ Considine on Thursday October 15, 2015. The Class Notes belongs to MKT 463 at Murray State University taught by Phillip Niffenegger in Fall. Since its upload, it has received 35 views. For similar materials see /class/223619/mkt-463-murray-state-university in Marketing at Murray State University.


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Date Created: 10/15/15
Chapter 1 1 What is the marketing concept a Focus of the company is to understand consumer needs and wants and to provide them in an efficient manner 3 What is consumer behavior a The dynamic interaction of affect and cognition behavior and the environment by which human beings conduct the exchange aspects of their lives 4 What 3 major groups are interested in consumer behavior and why a Marketing organizations which include businesses hospitals museums parks law firms etc and other organizations that seek exchanges with consumers b Various government and political organizations FTC FDA etc through public policies MADD or SADD c Consumers and organizational buyers who exchange resources for various goods and services 5 List the 5 elements of a marketing strategy for which a knowledge of consumer behavior can help make decisions a Segmentation i Target consumers b Product i What products do the consumers use c Promotions i What promotional appeals will best affect the consumers in buying habits d Pricing i How does the price affect the selling point e Distribution i Where do consumers buy this product Chapter 2 1 List the three elements of the wheel of consumer analysis then define and give an example of each a Affect and Cognition i feelings or emotions BoredomLove effects body heart rate respiration ii thinking process reading and information that affects knowledge not physical body and is not visible b Behavior overt acts of behavior what you re doing instead of thinking c Environment how does environment affect retailing or purchasing behavior Environment can include cultures or store conditions 2 What are some general characteristics of the wheel a Need to analyze all three elements at once because they interact with each other It is a dynamic continuously changing system How we think and feel affects our behavior and the environment affects how we behave which can affect how we think and feel 3 What 4 different levels of the world can be analyzed via the wheel a Societies b lndustries c Market segments d Individual consumers Chapter 3 1 Describe the affective system and the 4 types of responses it produces Emotions joy love guilt fear anger Specific feelings warmth appreciation satisfaction disgust sadness Moods alert relaxed calm blue listless bored Evaluations like good favorable dislike bad unfavorable 095 2 ll VL V li39 lav l ll lb d w irilclojl i How to analyze a research article IntroductionBackground a Why is this area important b What are past findings ll Statement of purpose of the study a What was the goal of the authors b Are formal hypothesis stated lll Methodology a What variables were measured and how b Was the sample representative c How was the data gathered lV Findings a Were the expected relationships proven or disproven b Were tests of statistical significance used V Conclusions and Implications a What are the practical implications for Business b What improvements could be made llnext time Sample or measure Chapter 4 1 Describe the different catagories of product knowledge 2 Give examples of concrete vs abstract attributes functional vs psycosocial consequences instrumental vs terminal values Concrete physical characteristics b Abstract must infer things about product c Functional immediate and tangible outcome d Psychological mental satisfaction e Instrumental path to goal f Terminal end state 3 Describe means end chain and give an example a Attributes to functional consequences to psychosocial consequences to end value 4 How can a marketer develop a means end chain for a product and use this knowledge 5 What is involvement How is it influenced Chapter 5 1 Describe these types of exposure intentional accidental and selective 2 Define attention and the 3 factors that influence it for marketing information 3 Describe comprehension and how it functions Chapter 6 1 Define attitude and salient belief and describe how marketers may use them c Persons overall evaluation of a concept attitudes can be tracked overtime to see if marketing is working d Brand equity value of the brand to the consumers 1 Build buy borrow e Salient beliefs activated beliefs create persons attitude about product 1 Describe how a consumer forms an attitude toward an object by using the multi attribute model f Focus on consumer beliefs about multiple product or brand attributes attitudes toward product strength of belief that the object has the attributes 1 Describe 4 attitude change strategies based on the multi attribute model give an example of each Adding a new salient belief Changing the strength of already salient beliefs Changing the evaluation aspect af an existing strongly held belief Make an existing favorable belief more salient Change beliefs about competing product comparative ad gt 9 P PWN Describe how components of the theory of reasoned action are combined to create a behavioral intention Pg 147 8 What factors can weaken the relation between intention and actual behavior 151 Chapter 15 1 Define market segmentation and why marketers segment markets a Dividing a market into group for the firm to tarket b If we design the product the product directly for the target the chances of a sale will increase 2 Six major types of segmentation a Geographical demographic socialcultural affect and cognition segmentation behavioral combined approaches 3 Positioning a Attributes wage product positioned by user product class competition 4 3 different strategies in using segmentation a Mass marketing one for everyone one model for all i Undifferentiated marketing b Differentiated marketing c Concentrated marketing Target market Product promotion price placement Three M s Measurable meaningful marketable


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