Consumer Behaviour: Introduction and Marketing Impact

Play an AI-generated podcast conversation about this lesson

What is one key reason for building loyalty to a brand as a marketing strategy?

To generate more transaction data

To increase the customer base

To track specific consumers' buying habits

To identify the most faithful customers (correct)

Which demographic dimension is of great interest to marketers as it can determine which group has the greatest buying power and market potential?

Age

Gender

Social class and income (correct)

Geography

What does the approach of 'Relationship Marketing' focus on?

Generating more transaction data

Building relationships between brands and customers (correct)

Tailoring products based on information

Identifying most faithful customers

What is the term used for the collection and analysis of extremely large datasets in marketing?

Big Data Signup and view all the answers

What is the main focus of Database Marketing?

Tailoring products based on information Signup and view all the answers

Why are changes and trends revealed by demographic studies of great interest to marketers?

To locate and predict the size of markets Signup and view all the answers

What does the 80/20 rule in marketing state?

20 percent of users account for 80 percent of sales Signup and view all the answers

Why do national marketers tailor their offerings to appeal to consumers who live in different parts of the country?

To respond to geographic differences in consumer needs and preferences Signup and view all the answers

What is the main focus of segmenting by behaviour in marketing?

Tracking specific consumers' buying habits Signup and view all the answers

Which demographic dimension can have a huge effect on a consumer’s spending priorities?

Lifestyles Signup and view all the answers

What is consumer behaviour?

The process of buying and having products/services to satisfy needs and desires Signup and view all the answers

What does exchange theory emphasize in consumer behaviour?

The entire consumption process Signup and view all the answers

In the context of consumer behaviour, who is a consumer?

A person who identifies a need or desire, makes a purchase, and disposes of the product Signup and view all the answers

Why do businesses learn about consumer behaviour?

To understand the process involved when individuals select, purchase, use, or dispose of products/services Signup and view all the answers

What does consumer behaviour study?

The processes involved when individuals select, purchase, use, or dispose of products/services/ideas or experiences to satisfy needs and desires Signup and view all the answers

Consumer Behaviour: Introduction and Marketing Impact

Podcast Beta

Questions and Answers