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| The behavior that consumers display in search for purchasing, using, evaluating, and disposing of products and services they expect will meet their needs. It is an art! |
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Elements of Consumer Behavior |
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Products/Goods Services Time Ideas |
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| Watch television programs, bowling, etc. |
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Elements of Consumer Behavior (?) |
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Search- where to search for the product. How much effort do you spend?How is information evaluated? Aquire- Buy it,Gift,Borrow,Steal,Find,Trade,Win,Rent. Aquire-whether or not to aquire, why?, what?, where?, how much?, how often? Using- whether to use, what?, how?, when, where? Evaluate- Before/after purchase or using prod. Dispose- Trash, recycle/reuse, sell, give, destroy, trade, consume/use, rent, loan, return it, |
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Human Decision Making Units |
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Information Gathering Influencer Decider Purchaser User |
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Why study Consumer Behavior? |
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| Interesting, Interested in welfare of society, |
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Stakeholders in studying Consumer Behavior |
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Marketers Ethicists Consumers |
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| Used to help develop new products. Develop positioning for product, Decide on traget group. Market Segmentation, Determine Pricing, Develop marketing communications- ads/commercials. Evaluate mkt. comm. Deciding where to market (types of stores, media, geographic region). |
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Public Policy Makers & Regulators Deal with issues: Deceptive Advertising (mkt to kids and minors), Confusing Labeling on terms, Ingredients stakeouts, Bait & switch- car dealerships. Compulsive Behavior- alcohol, drugs, gambling. Racism- "red lining", "streotyping". Invasion of Privacy. |
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| Can direct Behavior to make products better. Comparison of brands |
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Psychological Factors (Individual) |
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Motivation, Exposure, attention, and perception, categorizing and comprehending information. Forming and changing attitude/memories. Making Decisions. Personality, Learning.
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Regional and ethnic influences Reference groups (age, gender, etc) Families/ Households Social Class |
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Changes in Consumer Behavior Environment |
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| Revolution due to technology: Internet info. (search engines, chat rooms, blogs, buy on-line, bill paying, advertising on-line), Scanners, Additional Channels on TV/radio, cell phones, TiVo, etc. |
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Marketers are more Socially Aware |
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Environmentally Conscious Charitable Poor Working Conditions, low pay in 3rd world countries, 3. Growth ___ of other countries: MANUFACTURING (China), Outsourcing (India). |
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