5 Questions
What is the definition of a consumer?
A person who identifies a need or desire, makes a purchase, and disposes of the product during the consumption process
What does consumer behavior involve?
The processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires
Who might be the influencer in the consumption process?
A separate person who influences the purchase of a product
What is the role of technology and culture in consumer behavior?
They create a new 'always on' consumer
What do marketers need to understand about consumer segments?
The wants and needs of different consumer segments
Study Notes
Understanding Consumers
- A consumer refers to an individual who purchases goods, services, or ideas for personal or household use.
Consumer Behavior
- Involves the study of when, why, how, and where people do or do not make purchases, focusing on the psychology, social, and cultural factors that influence consumer decisions.
Influencers in Consumption
- Influencers can be individuals, groups, or institutions that affect consumer purchasing decisions, such as family members, friends, celebrities, social media, and online reviews.
Technology and Culture in Consumer Behavior
- Technology plays a significant role in shaping consumer behavior, with the internet, social media, and mobile devices influencing how consumers access information, compare prices, and make purchases.
- Culture also plays a crucial role, as values, beliefs, and customs shape consumer preferences and behavior, with marketers needing to understand cultural differences to effectively target consumers.
Understanding Consumer Segments
- Marketers need to understand that consumers are not homogeneous and can be segmented based on demographics, geographic locations, psychographics, and behavioral characteristics.
- Effective market segmentation enables marketers to tailor their marketing strategies to meet the unique needs and preferences of specific consumer groups.
Test your knowledge of consumer behavior and marketing research with this quiz. Explore the process of consumer behavior, understanding consumer segments, and the complex motivations behind consumer choices.
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