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28 Cards in this Set
- Front
- Back
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What is Consumer Behavior? |
Studies the processes involved when individuals/groups select, purchase, use/dispose or products, services, ideas or experiences to satisfy needs/desires. |
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What are the three stages in the Consumption Process through the Consumer's Perspective? |
Pre-Purchase Issues, Purchase Issues, and then Post-Purchase Issues |
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What is a consumption community? |
are groups of people who share the consumption of a brand or product.
For Example: Mac Computer users are a consumption community, grunge dressers, and cross-dressers are also examples of a consumption community |
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What is a Market Segmentation? |
This is a marketing strategy which involves dividing a broad target market into subsets of consumers, businesses, or countries that have, or are perceived to have, common needs, interests, and priorities, and then designing and implementing strategies to target them.
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These consumers are the most faithful customers. |
What are Heavy Users?
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What is the 80/20 rule? |
This is the rule marketers use which means 20% of users contributes 80% of sales. |
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When segmenting Consumers based on Demographics, we mostly use: |
Age, Gender, Family Structure, Social Class/Income, Race/Ethnicity, Geography, and Lifestyles |
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What is Role Theory? |
This takes the view that much of the consumer's behavior resembles actions in a play. That is why it is important for marketers to provide the props for the "actors" consumers. For example, the up-and-coming executive, hipster, etc. |
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What is B2C E-Commerce? |
"Business-to-Consumer", is the type of commerce transaction in which businesses sell products or services to consumers. |
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What is C2C E-Commerce? |
"Consumer-to-Consumer", is a business model that facilitates the transaction of products or services between customers. Example: An example of C2C would be the classifieds section of a newspaper, or an auction. In both of these cases, a customer, not a business, sells goods or services to another customer. |
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What is a Digital Native? |
This is a person born or brought up during the age of digital technology and therefore familiar with computers and the Internet from an early age.
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What is a Synchronous Interaction? |
This is an interaction that occurs at the same time and the exchange of information is done in real time.
Example: Texting, Instant Messaging, Etc. |
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What is an Asynchronous Interaction? |
It is understood that this interaction occurs at different times and not in real time.
Example: E-Mail |
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What is Positivism (Modernism)? |
This is a philosophical system that holds that every rationally justifiable assertion can be scientifically verified or is capable of logical or mathematical proof, and that therefore rejects metaphysics and theism.
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What is Interpretivism (postmodernism)? |
This views reality as something subjective and based on meanings and understanding. The goal of the research is understanding, rather than making predictions. Interpretivist researchers don't consider the knowledge generated from the research to be permanent but accept it as relative to the current time, context or culture.
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Business Ethic are: |
rules of conduct that guideactions in the marketplace. These are the standards against which people in a culture judge what is right and wrong. Note: There are cultural differences on what is right and wrong. |
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What is Consumerspace? |
Consumers feel empowered to "call the shots". In this environment, consumers tell companies the products they want and how, when , where (or even if) they want to lean about them. |
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What is Provenance? |
Shoppers are willing to par more for an item when they know where it came from and are assured that "real" people have thoughtfully selected things from which they choose. |
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Do marketers create artificial needs? |
The objective of marketing is to create an awareness that exists, not to create a need. |
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What is Transformative Consumer Research (TCR)? |
This helps promote research projects thatinclude the goal of helping people or bringing about social change. |
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What is Corporate Social Responsibility (CSR)? |
This is the process to encourageorganizations to make a positive impact on stakeholders.
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What is Cause Marketing? |
It is a strategy that aligns businesses with a cause. Examples: Yoplait, Susan G Komen, General Mills, P&G, etc. |
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What is the Personal Data Notification & Protection Act of 2015? |
This strengthens the obligations companies have to notify customers when their personal information has been exposed. Example: Target system hacked. |
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What is the Student Digital Privacy & Parental Rights Act of 2015? |
This prevents companies from selling K-12 students' online data to third parties or otherwise sharing information unless it is for a school-related purpose. |
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What is Real Time Bidding? |
This is an electronic trading system that sells ad space on the Web pages people click on at the moment they visit them. |
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What is Phishing? |
The activity of defrauding an online account holder of financial information by posing as a legitimate company. These are scams in which people receive fraudulent emails that ask them to supply account information. |
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What are Botnets? |
These are a network of private computers infected with malicious software and controlled as a group without the owners' knowledge, e.g., to send spam messages.
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What is a Triple Bottom-Line Orientation? |
This refers to the business strategies that strive to maximize return in three ways: Financial - Provide Profit to Stakeholders Social - Return Benefits to the Community Environmental - Minimize damage to the environment and improve conditions. |
