Introduction to Consumer Behavior

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What is the definition of consumer behavior according to Mothersbaugh, Hawkins & Kleiser?

The study of individuals and groups and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

What is the purpose of marketing strategy?

To deliver customer value.

What are the external influences on consumer behavior according to the conceptual model?

Culture, demographics, and social stratification, ethnic, religious, and regional subcultures, families and households.

What is the difference between needs and wants according to the text?

Not fulfilling a need will make one worse off, but not fulfilling a want will keep one the same.

What are the four steps involved in market segmentation?

Identifying product-related need sets, grouping customers with similar need sets, describing each group, selecting an attractive segment(s) to serve.

What is the definition of consumer behavior?

The study of individuals and organizations and the processes they use to select, secure, use, and dispose of products to satisfy needs.

What is the purpose of market segmentation?

To divide a broad market into subsets of customers that have common needs, interests, and priorities.

What is customer value?

The difference between all of the benefits of consumption and the associated costs.

What are some external influences on consumer behavior?

Culture, demographics, social stratification, ethnic and religious subcultures, families, and households.

How do situations influence consumer decisions?

Consumer decisions result from perceived problems and opportunities, and the nature of the situation influences the resulting consumer behavior.

Test your knowledge of consumer behavior with our quiz! This quiz will challenge you to identify the different aspects of consumer behavior, including the processes individuals, groups, and organizations use to select, use, and dispose of products, services, experiences, or ideas. You'll also learn about the impacts of these behaviors on both consumers and society. Sharpen your understanding of consumer behavior and test your knowledge with our fun and informative quiz!

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