Consumer Behavior Overview

Consumer Behavior

• Consumer behavior encompasses all decisions regarding acquisition and disposal of goods, services, time, and ideas, influenced by human decision-making over time. This includes the use, disposal, and impact of those products and services on consumers.
• Consumer behavior culture: Social and cultural factors significantly shape consumer preferences, habits, and purchasing decisions.
• Effective branding: Brand names are best remembered through repetition, emotional connection, distinctive packaging, and effective advertising strategies.
• Importance of understanding consumer behavior: Understanding consumer behavior is essential to create effective marketing strategies, predict market trends, and provide solutions that meet consumer needs most effectively.
• Purchasers versus end users: A purchaser is the individual making the purchase, while the end user might be different.
• Acquisition process: Obtaining a product or service includes purchasing, renting, or borrowing.
• Problem recognition: Recognizing a discrepancy between current and desired states triggers problem recognition.
• The psychological core: Motivation, perception, learning, memory, and attitude formation are crucial elements of consumer decision-making.
• Offerings: Products, services, activities, and ideas are all offerings consumers receive value from.
• Sources of offerings: Businesses, organizations, and marketers make available offerings.
• Motivation: Consumer motivation is crucial from the need to fulfill an outcome; it drives consumer actions toward specific goals.
• Situational involvement: Temporary interest in a product or issue often triggered by a current circumstance.
• Information processing: Information processing is most effective when messages are presented without distraction.
• Cognitive involvement: Deep thought and processing of information, rather than emotional responses.
• Self-concept: How a person views themselves, which influences purchasing decisions.
• Personal relevance: Degree to which a product aligns with a person's needs, goals, and values.
• Social needs: Consumer desires for belonging, status, and social interactions influence behavior.
• Concrete goals: Specific, measurable objectives pursued by consumers.
• General benefits: Broad advantageous of a product or service, beyond the specifics.
• Consumer risk: Financial, social, performance, and psychological risks associated with purchases.
• Marketing exposure: Exposure to marketing stimuli occurs at various stages of the decision-making process
• Ad placement: Ad placement is key to successful exposure to consumers.
• Product placement: Location for a product can affect consumer attention and perception.
• Attention limitation: Attention is limited; consumers can only focus on so much.
• Distraction: Distractions reduce effective advertisement processing.
• Exposure meaning: Exposure is a consumer's contact with a promotional message.
• Importance of Consumer reviews: Customer reviews significantly influence consumer buying decisions.
• Consumer attention: Focus attention is important for effective communication.
• Prominence: A product's prominence enhances visibility and awareness.
• Perception: The process of interpreting sensory information.
• Echoic memory: Auditory sensory memory.
• Iconic memory: Visual sensory memory.
• Episodic memory: Memories associated with personal experiences.
• Implicit memory: Unconscious memories that influence behavior.
• Chunking: Grouping information into meaningful units.
• Consumer outcomes: Expectation of positive outcomes from a purchase.
• Working Memory: Active processing and temporary holding of information.
• Episodic memory: Memory related to personal experiences.
• Knowledge content: Information stored in memory about products, brands, experiences.
• Knowledge structure: How information is organized in memory.
• Cocreation: Consumers participating in product/service design.