Podcast
Questions and Answers
What was the result of companies that did not monitor consumer behavior in the gluten-free market?
What was the result of companies that did not monitor consumer behavior in the gluten-free market?
What are the three key factors that affect consumer behavior?
What are the three key factors that affect consumer behavior?
What is one way psychological factors influence consumer behavior?
What is one way psychological factors influence consumer behavior?
What is an example of a personal factor that influences consumer behavior?
What is an example of a personal factor that influences consumer behavior?
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How do social factors influence consumer behavior?
How do social factors influence consumer behavior?
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What can be an outcome of anticipating changes in consumer wants?
What can be an outcome of anticipating changes in consumer wants?
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How do marketers ensure their campaigns appeal to their target audience?
How do marketers ensure their campaigns appeal to their target audience?
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What is an example of how age can influence consumer behavior?
What is an example of how age can influence consumer behavior?
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What is the primary goal of marketers in understanding consumer behaviour?
What is the primary goal of marketers in understanding consumer behaviour?
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What is the role of the consumer in the marketplace according to the perspective of role theory?
What is the role of the consumer in the marketplace according to the perspective of role theory?
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What is the definition of consumer behaviour according to Engel, Blackwell, and Mansard?
What is the definition of consumer behaviour according to Engel, Blackwell, and Mansard?
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What is the outcome of understanding consumer behaviour in the marketplace?
What is the outcome of understanding consumer behaviour in the marketplace?
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What is an example of a change in consumer behaviour?
What is an example of a change in consumer behaviour?
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What is the importance of understanding consumer behaviour to companies?
What is the importance of understanding consumer behaviour to companies?
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What is consumer behaviour according to Ralph Waldo Emerson?
What is consumer behaviour according to Ralph Waldo Emerson?
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What is the benefit of companies monitoring changes in consumer behaviour?
What is the benefit of companies monitoring changes in consumer behaviour?
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Study Notes
Definition and Scope of Consumer Behaviour
- Consumer behaviour is the study of how individual customers, groups or organizations select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants.
Perspectives on Consumer Behaviour
- The role theory perspective assumes that consumers play various roles in the marketplace, including information provider, user, payer, and disposer.
Definitions of Consumer Behaviour
- Engel, Blackwell, and Mansard define consumer behaviour as the actions and decision processes of people who purchase goods and services for personal consumption.
- Louden and Bitta define consumer behaviour as the decision process and physical activity, which individuals engage in when evaluating, acquiring, using or disposing of goods and services.
Importance of Understanding Consumer Behaviour
- It is critical to understand consumer behaviour to know how potential customers will respond to a new product or service.
- Understanding consumer behaviour helps companies identify opportunities that are not currently met.
Example of Change in Consumer Behaviour
- A recent example of a change in consumer behaviour is the increase in demand for gluten-free (GF) products, driven by changes in eating habits.
Factors Affecting Consumer Behaviour
Psychological Factors
- Psychological factors that affect consumer behaviour include perception of a need or situation, ability to learn or understand information, and individual attitudes.
Personal Factors
- Personal factors that affect consumer behaviour include characteristics that are specific to a person, such as decision-making style, habits, interests, and opinions.
- Age, gender, background, culture, and other personal issues also influence personal factors.
Social Factors
- Social factors that affect consumer behaviour include social influencers, such as family, social interaction, work or school communities, and social class, which involves income, living conditions, and education.
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Description
Understanding consumer actions and motives in the marketplace, including the selection, purchase, use, and disposal of goods and services.