Podcast
Questions and Answers
What influences consumption patterns across different social classes?
What influences consumption patterns across different social classes?
- The presence of government regulations on spending
- Only the amount of money available for spending
- Individual preferences based solely on age
- Family background and personal aspirations (correct)
How do lower classes typically approach spending on luxury items?
How do lower classes typically approach spending on luxury items?
- They prioritize luxury goods over immediate needs at all times
- They completely avoid luxury goods, focusing only on necessities
- They may splurge on certain luxury items to reflect aspirations (correct)
- They purchase luxury items without regard for their finances
What is one key difference in consumption behavior between upper and lower classes?
What is one key difference in consumption behavior between upper and lower classes?
- Upper classes are more likely to indulge openly in high culture activities
- Lower classes buy more luxury goods discreetly compared to upper classes
- Lower classes prefer high culture activities over luxury consumption
- Upper classes are discreet about their wealth while indulging in luxury (correct)
Why have luxury products become more accessible to various social classes?
Why have luxury products become more accessible to various social classes?
Which factors besides income are considered significant in determining consumption behavior?
Which factors besides income are considered significant in determining consumption behavior?
What is a key advantage of qualitative research methods?
What is a key advantage of qualitative research methods?
Which disadvantage is associated with qualitative research methods?
Which disadvantage is associated with qualitative research methods?
What is one of the primary advantages of quantitative research methods?
What is one of the primary advantages of quantitative research methods?
What is a potential drawback of relying solely on quantitative research data?
What is a potential drawback of relying solely on quantitative research data?
How does mixed methods research benefit the study of consumer behavior?
How does mixed methods research benefit the study of consumer behavior?
Which of the following is NOT a challenge when managing big data for targeted marketing?
Which of the following is NOT a challenge when managing big data for targeted marketing?
What is a common misconception regarding qualitative research?
What is a common misconception regarding qualitative research?
Which approach is favored when looking for broader consumer behavior trends?
Which approach is favored when looking for broader consumer behavior trends?
What characterizes avoidance-avoidance conflict?
What characterizes avoidance-avoidance conflict?
What is product involvement primarily associated with?
What is product involvement primarily associated with?
Which type of involvement involves a consumer's engagement with advertisements?
Which type of involvement involves a consumer's engagement with advertisements?
What does emotional involvement refer to?
What does emotional involvement refer to?
What is cognitive involvement focused on?
What is cognitive involvement focused on?
Which aspect is least likely to influence situational involvement?
Which aspect is least likely to influence situational involvement?
Which type of involvement represents a low level of consumer interest?
Which type of involvement represents a low level of consumer interest?
Which of the following statements about involvement is accurate?
Which of the following statements about involvement is accurate?
What aspect of an attribution considers whether the cause of failure is seen as consistent over time?
What aspect of an attribution considers whether the cause of failure is seen as consistent over time?
How do consumers typically respond when dissatisfied with a product or service?
How do consumers typically respond when dissatisfied with a product or service?
What factor increases the likelihood of a consumer voicing their dissatisfaction?
What factor increases the likelihood of a consumer voicing their dissatisfaction?
What does locus of control in consumer attribution refer to?
What does locus of control in consumer attribution refer to?
Which of the following is not a factor affecting consumer satisfaction after a product failure?
Which of the following is not a factor affecting consumer satisfaction after a product failure?
What is likely to happen if consumers believe the provider could have prevented the failure?
What is likely to happen if consumers believe the provider could have prevented the failure?
Which response action involves directly communicating dissatisfaction to the vendor?
Which response action involves directly communicating dissatisfaction to the vendor?
What might prevent a consumer from taking action when dissatisfied?
What might prevent a consumer from taking action when dissatisfied?
What factors contribute to determining a person's social class?
What factors contribute to determining a person's social class?
Which behavior is commonly associated with the upper classes regarding consumption?
Which behavior is commonly associated with the upper classes regarding consumption?
What does the concept of homogamy refer to in the context of social class?
What does the concept of homogamy refer to in the context of social class?
What ethical concerns are raised regarding marketing to low-income consumers?
What ethical concerns are raised regarding marketing to low-income consumers?
How do luxury consumers differ in their approach to purchasing luxury goods?
How do luxury consumers differ in their approach to purchasing luxury goods?
In light of demographic shifts, how should marketers adjust their strategies for the elderly population?
In light of demographic shifts, how should marketers adjust their strategies for the elderly population?
What is a major misconception marketers have about the elderly?
What is a major misconception marketers have about the elderly?
How do spending behaviors differ between upper classes and middle or lower classes?
How do spending behaviors differ between upper classes and middle or lower classes?
How can the color of packaging influence consumer behavior?
How can the color of packaging influence consumer behavior?
What is meant by 'figure-ground relationships' in perception?
What is meant by 'figure-ground relationships' in perception?
What distinguishes utilitarian needs from hedonic needs?
What distinguishes utilitarian needs from hedonic needs?
How do gender differences affect color preferences?
How do gender differences affect color preferences?
What results from the process of motivation when a need arises?
What results from the process of motivation when a need arises?
Why is understanding motivation important for marketers?
Why is understanding motivation important for marketers?
What is hyperreality in the context of marketing?
What is hyperreality in the context of marketing?
What kind of responses can marketers influence through understanding consumer motivation?
What kind of responses can marketers influence through understanding consumer motivation?
Flashcards
Qualitative Research
Qualitative Research
A research approach focused on understanding in-depth the motivations, attitudes, and experiences of consumers. It involves methods like interviews, focus groups, and ethnographic studies.
Quantitative Research
Quantitative Research
A research approach focused on collecting numerical data and using statistical analysis to understand consumer behavior patterns. It involves methods like surveys and experiments.
Advantages of Qualitative Research
Advantages of Qualitative Research
Qualitative research methods like interviews and focus groups offer a deep understanding of consumer motivations and attitudes.
Disadvantages of Qualitative Research
Disadvantages of Qualitative Research
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Advantages of Quantitative Research
Advantages of Quantitative Research
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Disadvantages of Quantitative Research
Disadvantages of Quantitative Research
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Mixed Methods Research
Mixed Methods Research
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Advantages of Mixed Methods Research
Advantages of Mixed Methods Research
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Motivation
Motivation
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Drive
Drive
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Need
Need
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Want
Want
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Goal
Goal
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Utilitarian Need
Utilitarian Need
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Hedonic Need
Hedonic Need
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Why is understanding motivation important for marketers?
Why is understanding motivation important for marketers?
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Avoidance-Avoidance Conflict
Avoidance-Avoidance Conflict
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Involvement
Involvement
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Product Involvement
Product Involvement
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Message Involvement
Message Involvement
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Situational Involvement
Situational Involvement
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Cognitive Involvement
Cognitive Involvement
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Emotional Involvement
Emotional Involvement
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How to measure involvement?
How to measure involvement?
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Consumption in Lower Classes
Consumption in Lower Classes
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Splurging in Lower Classes
Splurging in Lower Classes
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Social Class and Spending Habits
Social Class and Spending Habits
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Mass Class Market and Luxury
Mass Class Market and Luxury
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Factors Shaping Consumption
Factors Shaping Consumption
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Social class and income are different
Social class and income are different
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Consumption patterns across classes
Consumption patterns across classes
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Products as status symbols
Products as status symbols
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Marriage and social class
Marriage and social class
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Ethical considerations in marketing
Ethical considerations in marketing
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The growing importance of the elderly
The growing importance of the elderly
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Marketing to the elderly
Marketing to the elderly
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Elderly spending power
Elderly spending power
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Regret
Regret
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Stability (in attributing product failure)
Stability (in attributing product failure)
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Locus of control (in attributing product failure)
Locus of control (in attributing product failure)
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Controllability (in attributing product failure)
Controllability (in attributing product failure)
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No Action (Consumer Response to Dissatisfaction)
No Action (Consumer Response to Dissatisfaction)
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Voiced Response (Consumer Response to Dissatisfaction)
Voiced Response (Consumer Response to Dissatisfaction)
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Factors Increasing Voiced Response (Consumer Response to Dissatisfaction)
Factors Increasing Voiced Response (Consumer Response to Dissatisfaction)
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Previous Positive Experiences (Factor Increasing Voiced Response)
Previous Positive Experiences (Factor Increasing Voiced Response)
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Study Notes
Marketing Research Methods
- The marketing research process is a systematic approach for collecting, analyzing, and interpreting data to inform marketing decisions.
- Defining the problem and research objectives: Identifying specific information required, and setting clear measurable research objectives.
- Developing the research plan: Choosing data sources, research approaches, instruments, and methods for gathering data (primary or secondary).
- Collecting data: Utilizing various methods, such as online surveys, in-person interviews, focus groups, or observations; using innovative data sources like GPS and user-generated content (UGC) is also mentioned.
- Analyzing data: Extracting meaningful insights through statistical analysis, pattern recognition, and big data analytics, as in the instance of Walmart's use of transaction data.
- Interpreting and reporting findings: Interpreting results in the context of research objectives. Communicating findings to stakeholders through reports and presentations.
- Making decisions based on the research: Utilizing insights to inform, develop, or adjust marketing strategies and tactics.
Advantages and Disadvantages of Primary vs. Secondary Data
- Primary Data
- Advantages: Relevant to the specific study, up-to-date, researchers control data quality and have exclusivity to insights.
- Disadvantages: Cost-intensive, time-consuming, design and implementation are complex, sample size may be limited affecting generalizability.
- Secondary Data
- Advantages: Cost-effective, saves time, provides vast amounts of data, readily available from government stats, and historical data.
- Disadvantages: Data may not perfectly align with current research questions; may be outdated, lack of control over data quality, and is not exclusive.
Research Methods
- Qualitative research: Provides a deep understanding of consumer motivations and attitudes, using methods such as interviews, focus groups, and ethnographic studies. Benefits include rich detailed data, and flexibility. Drawbacks include subjectivity of the data, and limited generalizability, often due to smaller sample sizes, as well as time-consuming nature.
- Quantitative research: Employs methods such as surveys and experiments, allowing for generalizability and statistical analysis, which can predict trends, and measure consumer behavior objectively. Drawbacks include a lack of depth in consumer experiences and emotions, as well as inflexibility in design.
- Mixed methods research: Aims to combine qualitative and quantitative methods to provide a more thorough understanding, leading to robust results and comprehensive insights. Qualitative data validates quantitative data and vice-versa.
Perception, Exposure, and Attention
- Exposure: Stimulus enters a consumer's sensory receptors.
- Attention: Cognitive activity dedicated to stimuli, influenced by personal factors (needs, interests) and stimulus factors (novelty, contrast).
- Interpretation: The assignment of meaning to stimuli, influenced by personal experiences, needs, biases, and culture.
- Mere exposure effect: Familiar stimuli are more favorably received, even in the absence of conscious awareness.
Subliminal Perception
- Subliminal perception: Processing information by sensory systems without conscious awareness, though its influence on consumer behavior is debated and not readily supported by evidence.
Attention
- Selective attention: A cognitive process that filters and prioritizes stimuli.
- Perceptual vigilance: Paying attention to stimuli relevant to current needs and interests.
- Perceptual defense: Ignoring or distorting stimuli deemed threatening or undesirable.
Motivation
- Motivation: Internal processes driving consumer behavior to satisfy needs or reduce tension.
- Drives: Urgency a consumer feels to satisfy a need.
- Needs: Basic requirements for survival, such as nourishment and protection.
- Wants: Specific ways to satisfy needs, influenced by culture, personal preferences, etc.
- Goals: Desired end-states of consumption or behavior.
Need Classifications
- Biogenic needs: Physiological needs, like hunger or thirst.
- Psychogenic needs: Psychological needs related to social acceptance, status, power, etc.
- Utilitarian needs: Practical, functional aspects of a product.
- Hedonic needs: Experiential, emotional aspects of a product.
Decision-Making Process
- Problem recognition: Acknowledging a need or desire.
- Information search: Seeking relevant information.
- Evaluation of alternatives: Considering options and comparing their attributes.
- Product choice: Determining which option to purchase.
- Post-purchase evaluation: Evaluating satisfaction.
Decision Rules
- Compensatory: Consider all attributes and weigh benefits.
- Noncompensatory: Eliminate options that fail to meet minimum standards or focus on the most important attribute.
Involvement
- Involvement: Perceived relevance, importance, or personal significance of an object (product, message, purchase). This varies and ranges from casual to focused based on needs, values and interests.
- Product involvement: Interest in a specific product.
- Message involvement: Interest in a specific message or advertising.
- Situational involvement: Temporary interest or engagement in a defined environment.
- Cognitive involvement: Interest in understanding or learning about a product.
- Emotional involvement: Strong emotional connection with the product that influences purchase decisions.
Attitudes
- Attitude change: Factors like credibility, attractiveness, and source similarity influence persuasiveness of a message.
- One-sided vs. two-sided arguments: One-sided arguments focus only on positive aspects, suitable for audiences already favorable toward a product. Two-sided arguments acknowledge both positive and negative aspects; suitable for educated audiences, and when negative aspects are already known.
- Sleeper effect: Initial impact of a message diminishes with time. The credibility of the source becomes less influential, and the message itself becomes more influential.
Cognitive Dissonance
- Cognitive dissonance: Mental discomfort from contradicting attitudes, behaviors, or beliefs.
- Regret: Feeling of dissatisfaction or disappointment after a purchase decision.
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