Consumer Behavior and Lifestyle Marketing
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A(n) _____ is a person who identifies a need or desire, makes a purchase, and then disposes of a product during the three stages of the consumption process.

consumer

Jenny Rowlins is absolutely exhausted after her shopping trip to pick out a dress for her sorority's formal event. The stores were crowded, and none of her favorite shops carried a dress that she liked in her size. After spending hours at the mall, Jenny decided to order her dress online and just return it if it was not exactly right. This story is an example of how consumer behavior is a(n) _____.

process

Which of the following is the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires?

  • Lifestyle marketing
  • Role theory
  • Consumer behavior (correct)
  • Marketing research

Our consumption choices, the brands we use, the activities in which we engage, and the groups to which we belong are all expressions of our _____.

<p>Unique identity (C)</p> Signup and view all the answers

Jamal typically pays $150 for a pair of shoes. However, he is willing to pay 20% more for a specific brand that he likes. How much is Jamal willing to pay for the brand name shoes?

<p>$180</p> Signup and view all the answers

_____ is a multilayered concept that involves our personal self and our social self.

<p>Identity</p> Signup and view all the answers

Stacy noticed a blouse she really liked was on sale for 40% off. How much is the blouse if the normal sticker price is $90?

<p>$54</p> Signup and view all the answers

Helen wants to talk with her granddaughter more often, so she is in the market for a new cellular phone. Based on the definition of consumer behavior, Helen wanting to talk with her granddaughter would be identified as a _____.

<p>Desire (A)</p> Signup and view all the answers

Which of the following is the best tool that helped to define the era of the rebirth of the internet as a social, interactive medium from its original roots as a form of one-way transmission from producers to consumers?

<p>Web 2.0 (A)</p> Signup and view all the answers

By 2030 about 64% of the world's population will be living in a megacity. How many people will live in megacities if the world's population is expected to be 8.5 billion?

<p>5.440 billion</p> Signup and view all the answers

A digital native is someone who _____.

<p>Grew up in a &quot;wired&quot; and highly networked area (C)</p> Signup and view all the answers

Which term refers to the online means of communication, conveyance, and collaboration among the interdependent and interconnected networks of people, communities, and organizations?

<p>Social media (A)</p> Signup and view all the answers

Bodie set his smartphone aside for a minute to think about something his grandfather told him about growing up 50 years ago. As kids they played outside since they only had three channels on the television, and they didn't have smartphones or computers. Bodie had a hard time understanding that time period since he could not remember a time when he didn't have his smartphone and instant access to technology. Bodie and his generation are _____.

<p>digital natives</p> Signup and view all the answers

Which of these platforms or networks is NOT an example of social media?

<p>Microsoft (D)</p> Signup and view all the answers

Communication channels no longer flow only from the top down or the bottom up. With today's social media people can now communicate with others at the same level. This change has been dubbed _____.

<p>The horizontal revolution (B)</p> Signup and view all the answers

Which of these outcomes is NOT an advantage of big data and marketing analytics?

<p>The data contain a lot of information and noise. (D)</p> Signup and view all the answers

The _____ reality is a virtual world that is "always on" and often accessed through virtual technologies that allows users to create a unique identity or avatar.

<p>metaverse</p> Signup and view all the answers

Digital assets with unique identification codes and metadata that distinguish them from one another are called _____.

<p>Nonfungible tokens (D)</p> Signup and view all the answers

One of the forces that drives consumer behavior is the feeling of being different and separated from the surrounding cultural environment. This feeling is known as _____.

<p>cultural distinctiveness</p> Signup and view all the answers

Some consumers prefer brands that allow them to connect with their home or home culture. This preference is known as _____.

<p>in-group bias</p> Signup and view all the answers

Ng purchased a food product that reminded her of visiting her grandparents. The aromas and the flavor made her a little homesick. She just finished a blog post and then went to the company's website to post a glowing review. What did Ng create?

<p>UGC (A)</p> Signup and view all the answers

_____ is a term which refers to the ability of people voicing their opinions about products, brands, and companies on blogs, podcasts, and social networking sites.

<p>User-generated content</p> Signup and view all the answers

Which term refers to the collection and analysis of extremely large data sets?

<p>Big data (B)</p> Signup and view all the answers

Facebook, Twitter, and Instagram are examples of a _____.

<p>social interactive medium</p> Signup and view all the answers

The majority of consumers in the United States live in _____.

<p>Urban centers (C)</p> Signup and view all the answers

The United Nations defines a megacity as a metropolitan area with a population of over how many people?

<p>10 million</p> Signup and view all the answers

Researchers estimate that how many people worldwide will live in megacities by 2030?

<p>Three out of five people (D)</p> Signup and view all the answers

Assume that 75% of the world's population is active on social media. How many global social media users exist if the world's total population is 7.79 billion?

<p>5.84 billion</p> Signup and view all the answers

Assume that there are 19.5 billion connected devices such as smartphones currently in existence in 2024 with 39 billion expected by 2030. What is the growth rate in connected devices expected over that time period?

<p>12%</p> Signup and view all the answers

Assume that there are 19.6 billion connected devices such as smartphones currently in existence in 2024 and experts believe this amount will grow by 15% per year for the next four years. How many connected devices will be in use in 2030?

<p>45.34 billion</p> Signup and view all the answers

Music, movies, sports, and books are part of _____.

<p>popular culture</p> Signup and view all the answers

A _____ creates a state of tension that drives consumers to attempt to reduce or eliminate.

<p>need</p> Signup and view all the answers

Something people must have to live or achieve a goal is a(n) _____.

<p>Need (C)</p> Signup and view all the answers

Research supports which of the following conclusions?

<p>Meaningfulness is related to being a giver, not a taker. (B)</p> Signup and view all the answers

Which of the following is an example of a need rather than a want?

<p>Shelter (C)</p> Signup and view all the answers

Firm XYZ is trying to encourage consumers to buy more used goods even though it may hurt their sales. Assume a new advertising campaign that cost $1.3 million resulted in a 3% decline in sales. How much were the firm's sales after the advertising campaign if the pre-campaign sales were $307 million?

<p>$297.79 million</p> Signup and view all the answers

Firm XYZ is trying to encourage consumers to buy more used goods even though it may hurt their sales. Assume a new advertising campaign that cost $1.6 million resulted in a 3% decline in sales. How much did this advertising campaign cost the firm in lost profits if their pre-campaign sales were $308 million and their profit margin was 5%?

<p>$462,000</p> Signup and view all the answers

Clothing company Patagonia urged its customers to buy used clothing in order to conserve the planet's resources. What is Patagonia practicing?

<p>Responsible marketing (A)</p> Signup and view all the answers

Allison skipped breakfast and lunch due to her hectic schedule during the day. By the end of the day her stomach was letting her know that she should eat. Her demand for food is a _____, but the type of food she would like to eat is a _____.

<p>need, want</p> Signup and view all the answers

Which of these statements is more indicative of happiness?

<p>People have more meaningful lives when they are happy. (A)</p> Signup and view all the answers

Because many different perspectives shape the field of consumer behavior, the field is _____.

<p>Interdisciplinary in nature (B)</p> Signup and view all the answers

Which of these disciplines focuses on consumption and consumer behavior from a macro perspective?

<p>Sociology (A)</p> Signup and view all the answers

Darvin is an anthropologist that studies consumer behavior. One recent finding was that Harley Davidson riders tended to have average incomes of over $90,000 per year and were also between the ages of 50 and 65. Which of these strategies is likely to be the most successful in increasing Harley Davidson's sales?

<p>They could run advertisements in publications that cater to this market segment. (A)</p> Signup and view all the answers

_____ is the study of meanings and symbols.

<p>Semiotics (B)</p> Signup and view all the answers

_____ is a way of thinking about and studying a phenomenon.

<p>A paradigm</p> Signup and view all the answers

Marielle finished coding a program that pulls data from the internet on how long visitors peruse a website and what time segment is more likely to trigger a sale. She learned on one website that customers who spend over three minutes looking at a specific product have a 55% possibility of buying the product. However, once they left the website many did not return. Given this information, which of these strategies should Marielle use that is most likely to increase sales?

<p>Marielle could design a program that sends a 5% off coupon to internet users after they looked at the website for more than three minutes. (A)</p> Signup and view all the answers

Statisticians are conducting market research for Firm XYZ if they employ 1391 market researchers that are 29% of all market researchers had a background in statistics. How many statisticians are conducting market research for Firm XYZ if they employ 1391 market researchers?

<p>403 (B)</p> Signup and view all the answers

Which of these disciplines is most likely to focus on analyzing the past to understand how markets change and cultural trends evolve over time?

<p>History (D)</p> Signup and view all the answers

How many people will be employed in market research in 2030 if there are 74,350 market research jobs in 2025 and the growth rate is expected to be 8% per year?

<p>109,245</p> Signup and view all the answers

Flashcards

What is a consumer?

An individual who experiences the consumption process by identifying a need or desire, making a purchase, and ultimately disposing of the product.

Define consumer behavior.

The process of acquiring, using, and disposing of goods, services, ideas, or experiences to fulfill needs and desires.

What is identity?

Our unique sense of self, encompassing both our personal identity (who we are) and our social identity (how others perceive us).

What is a need?

A state of tension that motivates consumers to reduce or eliminate it. It is a feeling of lacking something essential.

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What is a want?

Something that is not essential for survival but is desired by consumers to improve their quality of life or provide satisfaction.

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Why is consumer behavior an interdisciplinary field?

A collection of disciplines and perspectives used to study consumer behavior, leading to a comprehensive understanding of consumer decision-making, preferences, and actions.

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What are cultural groups?

A group of people who share common characteristics, values, and beliefs. They influence our consumption choices and how we perceive brands and products.

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What is in-group bias?

A phenomenon that occurs when people are more likely to make choices that align with their own cultural values and preferences. They favor their own group over others.

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What is user-generated content (UGC)?

Content created by consumers themselves, such as blog entries, reviews, videos, and social media posts, that can significantly influence other consumers' decisions.

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What is semiotics?

The study of meanings and symbols used to understand how consumers interpret brands, products, and marketing messages.

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What is big data?

A massive dataset collecting information about consumer behavior, preferences, and interactions, enabling marketers to analyze patterns and insights.

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What is Web 2.0?

An era of the internet characterized by interactive and collaborative platforms, enabling consumers to participate in content creation, sharing, and communication.

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What is the metaverse?

A virtual environment that blends the physical and digital worlds, allowing users to create avatars and interact in immersive experiences.

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What is a non-fungible token (NFT)?

A digital asset identified by a unique code and metadata, which makes it distinct and cannot be replicated or exchanged for something identical.

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Who is a digital native?

A person who has grown up with digital technology and has integrated it into their daily life.

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What is cultural distinctiveness?

A sense of being different and separate from the surrounding culture, which can influence individuals to seek out unique products or experiences that reflect their individuality.

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What is market research?

A process of monitoring and analyzing consumer behavior to understand their needs, motivations, and desires. It involves gathering information about consumers' preferences and actions using various research methods.

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What is a megacity?

A city with a population of over 10 million people, reflecting a growing trend of urbanization and concentration of population.

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How does big data impact consumer behavior?

The collection and analysis of large volumes of data, including consumer behavior data, to identify patterns and trends and inform business decisions.

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What is marketing analytics?

A process of analyzing customer data to tailor marketing strategies and improve customer experiences by understanding their needs and preferences, and predicting future behavior.

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What is database marketing?

The collection and analysis of data about customers, including their demographics, purchase history, and preferences, to develop targeted marketing campaigns.

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What is green marketing?

A type of marketing that focuses on promoting products and services based on their environmental sustainability, ethical practices, and social responsibility.

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What is popular culture?

The shared practices, beliefs, values, and customs of a society that shape consumer behavior, including trends, fashion, entertainment, and popular culture.

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What is responsible marketing?

A practice that emphasizes reducing consumption by choosing used goods over new products, promoting sustainability and resource conservation, and minimizing environmental impact.

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What does consumer centricity mean?

It suggests that companies focus on understanding and fulfilling customers' needs and desires, creating long-term relationships through trust and satisfaction.

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What is happiness?

A state of well-being and satisfaction characterized by positive emotions, feelings of purpose, and meaningful connections. It is often associated with giving, helping, and contributing to others.

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What is meaningfulness?

A feeling of significance and purpose in life, often derived from aligning one's actions and choices with values, beliefs, and goals. It is also associated with contributing to something larger than oneself.

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What are virtual brand communities?

A collection of online communities where individuals with shared interests, hobbies, or passions gather for discussions, engagement, and shared experiences related to specific brands or products.

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What is the horizontal revolution?

The ability of people to voice their opinions and experiences with products, brands, and companies on online platforms.

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Describe synchronous interaction.

A form of communication that relies on real-time interaction, such as video conferences or live chats.

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Define asynchronous interaction.

Communication that doesn't require simultaneous interaction and allows for delayed responses like emails, forums, or social media posts.

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What are surveys in market research?

A method of gathering information from a sample of consumers by asking questions about their thoughts, behaviors, and preferences related to brands, products, or services.

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What is observational research in consumer behavior?

Involves studying consumer behavior by observing their actions, behaviors, and interactions, often in natural environments.

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Study Notes

Consumer Behavior

  • A consumer is a person who identifies a need or desire, makes a purchase, and then disposes of a product.
  • Consumer behavior is a process.
  • Consumer behavior encompasses the selection, purchase, and disposal of products, services, ideas, or experiences to fulfill needs and desires.

Buying, Having, and Being

  • Jenny Rowlins' shopping experience illustrates consumer behavior as a process.
  • Her search for, purchase of, and potential return are all part of the consumption process.

Lifestyle Marketing

  • Lifestyle marketing involves studying consumer behavior.
  • This includes identifying consumer needs and desires related to products, services, ideas, or experiences.

Consumer Behavior Processes

  • Consumer behavior involves selecting, purchasing, using, and disposing of products and services.
  • These trends require constant monitoring to understand consumer behavior.
  • Big data and marketing analytics provide valuable insights.
  • Social media plays a significant role in communication and interactions.
  • Technology, social trends, and culture are all crucial factors.

Digital Natives

  • Digital natives grew up in a highly networked environment.
  • They're more comfortable interacting with technology.

Megacities

  • Megacities are metropolitan areas with over 10 million people.
  • A significant portion of the global population resides in megacities.

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Description

Explore the intricacies of consumer behavior, including the processes of selecting, purchasing, and disposing of products. This quiz also delves into lifestyle marketing and the impact of technological and sociocultural trends on consumer decisions.

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