Introduction to Consumer Behavior

Play an AI-generated podcast conversation about this lesson

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

The process of dividing a broad market into subsets of customers that have common needs, interests, and priorities.

The study of consumers' choices during searching, evaluating, purchasing, and using products and services that they believe would satisfy their needs.

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. (correct)

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

What is the purpose of marketing strategy?

To group customers with similar need sets.

To deliver customer value. (correct)

To identify product-related need sets.

To describe each customer group.

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

Use of brands to bolster self-image and our outward perception.

Consumer-brand relationships.

Perception, learning, memory, motives, personality, emotions, attitudes, goals.

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

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. Signup and view all the answers

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. Signup and view all the answers

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. Signup and view all the answers

What is the purpose of market segmentation?

To divide a broad market into subsets of customers that have common needs, interests, and priorities. Signup and view all the answers

What is customer value?

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

What are some external influences on consumer behavior?

Culture, demographics, social stratification, ethnic and religious subcultures, families, and households. Signup and view all the answers

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. Signup and view all the answers