39 Questions
What is consumer behavior?
The study of consumers and the processes they use to make purchasing decisions
Why is studying consumer behavior important for marketers?
To understand what influences consumers’ buying decisions
What is an example of complex buying behavior?
Retirement planning
When does dissonance-reducing buying behavior occur?
When the consumer is highly involved in the purchase process but has difficulties determining the differences between brands
What is the term for purchases made with very little consumer involvement?
Habitual buying behavior
What influences consumer behavior for expensive products like houses or cars?
Economic conditions
What is the stage when a customer becomes aware that they have a need for a product or service?
Need recognition
What is the term for the stage when a customer is comparing options to make the best choice?
Evaluation of alternatives
What refers to a business’ ability to keep customers active from one period into another?
Customer retention
Which moment of truth refers to the moment when a consumer engages in research of a product to determine what products will make their short list of possible products?
Zero Moment of Truth
What is the term for when a consumer evaluates how well the product meets their needs?
Second Moment of Truth
What is the importance of the Initial Consideration Set?
It determines the likelihood of a product being purchased
What influences consumer behavior in industries like fashion or food?
Personal preferences
What influences consumer behavior based on what family members, classmates, and acquaintances think or do?
Group influence
What is the term for purchases made not because the consumer wasn’t satisfied with the previous one, but because they seek variety?
Variety seeking behavior
What is the stage when buying behavior turns into action?
Purchasing decision
What type of buying behavior is encountered when consumers have difficulty determining the differences between brands and may experience 'dissonance'?
Dissonance-reducing buying behavior
Which of the following is an example of complex buying behavior?
Purchasing a luxury watch
What is the term for purchases made with very little consumer involvement?
Routine response behavior
When does habitual buying behavior typically occur?
When consumers make purchases with very little involvement
What influences consumers to choose between various options?
Consumer's evaluation of product attributes
In what type of buying behavior are consumers highly involved in the purchase process and conduct research before committing to a high-value investment?
Complex buying behavior
What is the term for purchases made not because the consumer wasn’t satisfied with the previous one, but because they seek variety?
Variety-seeking buying behavior
What refers to a business’ ability to keep customers active from one period into another?
Customer loyalty
What are important consumer behavior questions marketers need to answer when developing a marketing mix?
What consumers think and how they feel about various alternatives
What is the term for the stage when a customer becomes aware that they have a need for a product or service?
Problem recognition
What influences consumers’ behavior while researching and shopping?
Peer pressure
What is the term for the stage when a customer is comparing options to make the best choice?
Evaluation of alternatives
What is the term for purchases made not because the consumer wasn’t satisfied with the previous one, but because they seek variety?
Variety seeking behavior
What refers to a business’ ability to keep customers active from one period into another?
Customer retention
What influences consumer behavior for expensive products like houses or cars?
Economic conditions
What is the term for purchases made with very little consumer involvement?
Habitual buying behavior
When does dissonance-reducing buying behavior occur?
After the purchasing decision
What influences consumer behavior in industries like fashion or food?
Personal preferences
Why is studying consumer behavior important for marketers?
To tailor marketing campaigns effectively
What is the stage when a customer becomes aware that they have a need for a product or service?
Need recognition
What is the importance of the Initial Consideration Set?
It determines the likelihood of a product being purchased
What is the term for when a consumer evaluates how well the product meets their needs?
Second Moment of Truth
What is the term for the moment when a consumer engages in research of a product to determine what products will make their short list of possible products that meet their needs?
Zero Moment of Truth
Study Notes
Consumer Behavior Fundamentals
- Consumer behavior refers to the processes individuals use to select, purchase, use, and dispose of products or services.
- Understanding consumer behavior is critical for marketers to tailor offerings, optimize marketing strategies, and enhance customer satisfaction.
Complex Buying Behavior
- Complex buying behavior occurs when consumers are highly involved in a purchase that is expensive, risky, or infrequent, such as buying a car or a house.
Dissonance-Reducing Buying Behavior
- Dissonance-reducing buying behavior arises when consumers struggle to choose between similar options and may experience buyer's remorse after making a purchase.
Low-Involvement Purchasing
- Purchases made with minimal consumer involvement are termed low-involvement purchases, often involving routine items.
Influences on Expensive Purchases
- Consumer behavior for significant investments is influenced by factors such as social status, detailed research, personal values, and financial conditions.
Awareness Stage
- The awareness stage occurs when a consumer realizes a need or recognizes a problem that requires a solution.
Comparison Stage
- The comparison stage is when a consumer evaluates different options to determine which product or service best fits their needs.
Customer Retention
- Customer retention refers to a business's ability to keep customers returning over time, fostering loyalty and repeat purchases.
Moment of Truth in Research
- The moment of truth in research is when a consumer investigates products to create a shortlist of potential options that meet their needs.
Evaluation of Product Fit
- The evaluation stage involves consumers assessing how well a product or service meets their expectations and requirements.
Importance of Initial Consideration Set
- The Initial Consideration Set is essential as it represents the first group of brands a consumer considers, impacting future purchasing decisions.
Influences in Fashion and Food
- Consumer behavior in industries like fashion and food is influenced by trends, social norms, advertising, and peer recommendations.
Social Influence on Consumer Behavior
- Social influences, such as opinions or behaviors of family members and peers, significantly shape consumer behavior and decision-making processes.
Variety-Seeking Purchasing Behavior
- Variety-seeking purchasing behavior occurs when consumers opt for different products not due to dissatisfaction but to experience newness.
Action Stage of Buying Behavior
- The action stage is when consumer buying intentions are translated into actual purchases.
Dissonance and Brand Differences
- Difficulty in perceiving differences between brands leads to complex buying behavior, often accompanied by feelings of dissonance.
Research in High-Value Investments
- Consumers engaged in high-value investments exhibit high involvement and typically conduct extensive research before finalizing their decisions.
Consumer Behavior Questions for Marketers
- Marketers need to understand consumer motivations, preferences, decision-making processes, and the influences that affect purchasing before developing their marketing mix.
Shopping and Research Influence
- Factors influencing consumers during shopping and research phases include personal experiences, external reviews, pricing, and brand reputation.
Test your knowledge of consumer behavior with this unit 3 study guide quiz. Explore 8 essential concepts, including the definition of consumer behavior and its significance to marketers. Sharpen your understanding of the factors influencing consumer purchasing decisions.
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