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10 Cards in this Set
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is the study of individuals, groups, or organizations and all the activities associated with the purchase, use, and disposal of goods and services. It consists of how the consumer's emotions, attitudes, and preferences affect behavior. |
Consumer behavior |
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Consumer behavior is dynamic as it involves the human process of thinking, feeling and actions. The dynamic nature of consumer behavior makes the development of marketing strategy an exciting yet difficult task. These marketing strategies may work in a particular market and fail in another set of consumers. The present product cycle becomes shorter and consumers are looking for better and new products. These are the reasons why companies must constantly innovate to create superior value for consumer satisfaction. |
The nature of consumer behavior |
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Consumer behavior involves interactive processes as the environment plays a vital role on how people think, feel and act towards new and innovated products. Marketers in the new environment need to understand what products appeal to new set of consumers. They must understand the new shopping strategies of the consuming public. They need to understand the environmental factors that influence the buying behavior. |
The interactive process of consumer behavior |
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The exchange process is involved in the buying behavior. People will give up something of value to others and receive something in return to satisfy their human wants. |
The consumer exchange process |
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What are the Dynamics in understanding consumer behavior: |
The nature of consumer behavior The interactive process of consumer behavior The consumer exchange process |
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Enumerate the prerequisites for exchange
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1. Two or more parties must be present; 2. The parties must have something that bis of value; 3. They must be capable of communication and delivery; 4. They are free to reject or accept the other offer; 5. The parties believe that the transaction is appropriate and desirable. |
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WHAT ARE THE ROLE OF RESEARCH IN CONSUMER BEHAVIOR |
1.INTERPRETATIVE APPROACH 2. THE TRADITIONAL APPROACH 3. THE MARKETING SCIENCE APPROACH
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is based on theories and methods from cognitive, social, and behavioral psychology and sociology. This approach seeks to develop theories and methods to explain how consumer makes behavioral decisions about the product or services offered by marketing. |
The traditional approach |
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This research study is based on theories and methods from economics and statistics. It involves the use of testing hypotheses and mathematical models to predict the impact of the different marketing strategies in the development of consumer buying behavior. |
THE MARKETING SCIENCE APPROACH |
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Consumer behavior is a complex phenomenon and an eclectic field. is new in the field of marketing and was quite influential in shaping the attitude of consumers. It is based on theories and methods from cultural anthropology. It seeks to develop a deep understanding of consumption and its relations to consumer behavior. |
The interpretive approach |
