Podcast
Questions and Answers
Which of the following actions best exemplifies the pursuit of social capital through expenditure?
Which of the following actions best exemplifies the pursuit of social capital through expenditure?
- Buying designer accessories to gain acceptance within a peer group. (correct)
- Hiring a cleaning service to free up time for personal hobbies.
- Purchasing organic groceries to improve one's health and energy levels.
- Enrolling in a professional development course to enhance job skills.
An individual decides to invest in a high-efficiency air purifier for their home. Which type of value are they primarily seeking?
An individual decides to invest in a high-efficiency air purifier for their home. Which type of value are they primarily seeking?
- Social Value
- Utilitarian Value (correct)
- Energy Value
- Knowledge Value
Which scenario demonstrates an investment aimed at increasing 'energy' as a resource, as described in the content?
Which scenario demonstrates an investment aimed at increasing 'energy' as a resource, as described in the content?
- Attending a networking event to expand professional contacts.
- Purchasing ergonomic office equipment to reduce physical strain and fatigue. (correct)
- Hiring a personal assistant to manage scheduling and communications.
- Subscribing to a financial newsletter to improve investment knowledge.
A consultant spends money attending a conference. Which combination of values (USER model) are they intending to increase?
A consultant spends money attending a conference. Which combination of values (USER model) are they intending to increase?
What is the primary goal of all human exchanges, according to the content?
What is the primary goal of all human exchanges, according to the content?
Which activity exemplifies a consumer's mental activity relating to consumer behavior?
Which activity exemplifies a consumer's mental activity relating to consumer behavior?
A consumer is considering purchasing a new laptop. Before making the purchase, they compare different brands, read online reviews, and assess their budget. Which aspect of consumer behavior does this scenario primarily illustrate?
A consumer is considering purchasing a new laptop. Before making the purchase, they compare different brands, read online reviews, and assess their budget. Which aspect of consumer behavior does this scenario primarily illustrate?
A marketing team is developing a new campaign for a product. They want to influence both the mental and physical activities of potential consumers. Which strategy would best address both aspects?
A marketing team is developing a new campaign for a product. They want to influence both the mental and physical activities of potential consumers. Which strategy would best address both aspects?
A consumer has a strong negative emotional reaction to a particular brand due to a past negative experience. According to the definition of consumer behavior, how does this emotional reaction primarily influence their future purchasing decisions?
A consumer has a strong negative emotional reaction to a particular brand due to a past negative experience. According to the definition of consumer behavior, how does this emotional reaction primarily influence their future purchasing decisions?
How do mental activities directly influence a consumer's ultimate purchase decision?
How do mental activities directly influence a consumer's ultimate purchase decision?
Which activity best exemplifies the role of marketers in connecting businesses to consumers?
Which activity best exemplifies the role of marketers in connecting businesses to consumers?
How do marketers primarily serve their own organization, based on the description provided?
How do marketers primarily serve their own organization, based on the description provided?
In what way do social organizations utilize the study of consumer behavior?
In what way do social organizations utilize the study of consumer behavior?
Which scenario illustrates a public policy maker's role in protecting consumers?
Which scenario illustrates a public policy maker's role in protecting consumers?
Given the information, what is the fundamental purpose of business and marketing?
Given the information, what is the fundamental purpose of business and marketing?
Which of the following scenarios best exemplifies a consumer receiving ego/identity value?
Which of the following scenarios best exemplifies a consumer receiving ego/identity value?
A consumer consistently purchases products from companies known for their sustainable practices. This behavior primarily reflects the pursuit of which type of value?
A consumer consistently purchases products from companies known for their sustainable practices. This behavior primarily reflects the pursuit of which type of value?
Participating in a community cleanup event can be seen as an exchange of which consumer resource for value?
Participating in a community cleanup event can be seen as an exchange of which consumer resource for value?
A consumer spends hours researching different brands of a product before making a purchase. Which consumer resource is most prominently being utilized in this scenario?
A consumer spends hours researching different brands of a product before making a purchase. Which consumer resource is most prominently being utilized in this scenario?
Which of the following examples illustrates a consumer providing 'knowledge' as a resource in a market exchange?
Which of the following examples illustrates a consumer providing 'knowledge' as a resource in a market exchange?
Attending a live sporting event primarily provides value related to:
Attending a live sporting event primarily provides value related to:
A consumer chooses to purchase a specific brand of running shoes endorsed by a famous athlete. This decision is most likely driven by a combination of which two values?
A consumer chooses to purchase a specific brand of running shoes endorsed by a famous athlete. This decision is most likely driven by a combination of which two values?
How might a marketer appeal to a consumer's need for 'recreation value' when promoting a new video game?
How might a marketer appeal to a consumer's need for 'recreation value' when promoting a new video game?
A consumer meticulously compares prices of different brands of coffee beans to find the best deal without sacrificing quality. Which vision of the consumer does this behavior exemplify?
A consumer meticulously compares prices of different brands of coffee beans to find the best deal without sacrificing quality. Which vision of the consumer does this behavior exemplify?
A person purchases a new brand of noise-canceling headphones to improve focus while working from home. According to the 5 visions of consumer behavior, which one applies best to this scenario?
A person purchases a new brand of noise-canceling headphones to improve focus while working from home. According to the 5 visions of consumer behavior, which one applies best to this scenario?
Why is anthropology relevant to the study of consumer behavior?
Why is anthropology relevant to the study of consumer behavior?
A marketing team analyzes census data and studies of family structures to understand how purchasing decisions for household goods are made. Which social science is most directly informing their analysis?
A marketing team analyzes census data and studies of family structures to understand how purchasing decisions for household goods are made. Which social science is most directly informing their analysis?
A researcher is investigating how consumers form attitudes towards new sustainable products and what motivates them to adopt eco-friendly behaviors. Which primary discipline is informing this research?
A researcher is investigating how consumers form attitudes towards new sustainable products and what motivates them to adopt eco-friendly behaviors. Which primary discipline is informing this research?
A city council is considering implementing a new tax on sugary drinks to discourage consumption. From the perspective of understanding consumer behavior, which social science is MOST relevant to predicting the policy's impact?
A city council is considering implementing a new tax on sugary drinks to discourage consumption. From the perspective of understanding consumer behavior, which social science is MOST relevant to predicting the policy's impact?
When analyzing consumer behavior through the lens of 'Consumer as Computer', what is the primary focus?
When analyzing consumer behavior through the lens of 'Consumer as Computer', what is the primary focus?
Which vision of the consumer is most applicable to a person enjoying the atmosphere and social interaction at a farmer's market, even if they don't have specific items to purchase?
Which vision of the consumer is most applicable to a person enjoying the atmosphere and social interaction at a farmer's market, even if they don't have specific items to purchase?
Which activity exemplifies a consumer engaging in a 'physical activity' related to product acquisition?
Which activity exemplifies a consumer engaging in a 'physical activity' related to product acquisition?
A local charity provides free meals to the homeless. In the context of consumer behavior, what type of marketer is the charity?
A local charity provides free meals to the homeless. In the context of consumer behavior, what type of marketer is the charity?
What is the key difference between a 'need' and a 'want' in the context of consumer behavior?
What is the key difference between a 'need' and a 'want' in the context of consumer behavior?
Which of the following scenarios best illustrates the concept of 'exchange' in consumer behavior?
Which of the following scenarios best illustrates the concept of 'exchange' in consumer behavior?
A person feels insecure and desires to improve their social standing. According to the definition, this feeling is best described as which of the following?
A person feels insecure and desires to improve their social standing. According to the definition, this feeling is best described as which of the following?
A consumer decides to purchase a high-efficiency washing machine. Which of the following resources are they most likely trying to conserve?
A consumer decides to purchase a high-efficiency washing machine. Which of the following resources are they most likely trying to conserve?
Which of the following scenarios illustrates a consumer's exchange of 'time' as a resource?
Which of the following scenarios illustrates a consumer's exchange of 'time' as a resource?
If a consumer feels hungry, they are experiencing a(n) ______; if they want pizza, they are expressing a(n) ______.
If a consumer feels hungry, they are experiencing a(n) ______; if they want pizza, they are expressing a(n) ______.
Besides money, what is a significant resource that consumers often exchange in the marketplace?
Besides money, what is a significant resource that consumers often exchange in the marketplace?
A company offers a new fitness app for a monthly subscription fee. In this scenario, the company is acting as a ______ seeking ______ from consumers.
A company offers a new fitness app for a monthly subscription fee. In this scenario, the company is acting as a ______ seeking ______ from consumers.
Flashcards
Consumer Behavior
Consumer Behavior
The mental and physical activities undertaken by consumers leading up to a purchase.
Mental Activities (in Consumer Behavior)
Mental Activities (in Consumer Behavior)
Acts of the mind related to our thoughts, feelings, and knowledge about products.
Knowledge (as a Resource)
Knowledge (as a Resource)
Acquiring information through books, courses, and lessons to improve skills and capabilities.
Energy (as a Resource)
Energy (as a Resource)
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Social Capital (as a Resource)
Social Capital (as a Resource)
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Value
Value
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Utilitarian Value
Utilitarian Value
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Marketers
Marketers
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Social Organizations
Social Organizations
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Public Policy Makers
Public Policy Makers
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Consumers
Consumers
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Purpose of Business & Marketing
Purpose of Business & Marketing
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Social Value
Social Value
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Ego/Identity Value
Ego/Identity Value
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Recreation Value
Recreation Value
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Hedonic Value
Hedonic Value
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Consumer Resources
Consumer Resources
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Money (as a Resource)
Money (as a Resource)
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Time (as a Resource)
Time (as a Resource)
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Consumer as Problem Solver
Consumer as Problem Solver
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Consumer as Economic Creature
Consumer as Economic Creature
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Consumer as Computer
Consumer as Computer
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Consumer as Shopper
Consumer as Shopper
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Consumer as Reveler
Consumer as Reveler
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Anthropology
Anthropology
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Sociology
Sociology
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Economics
Economics
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Mental Activity (Consumer Behavior)
Mental Activity (Consumer Behavior)
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Physical Activities (Consumer Behavior)
Physical Activities (Consumer Behavior)
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Product (Consumer Behavior)
Product (Consumer Behavior)
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Need
Need
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Want
Want
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Exchange
Exchange
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Resources (Consumer Behavior)
Resources (Consumer Behavior)
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Study Notes
- Consumer behavior is defined as the mental and physical activities undertaken before buying something, indicating a process occurs beforehand
Mental Activities
- These involve acts of the mind related to thoughts, feelings, and knowledge about products
Physical Activities
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These are actions of the human body related to acquiring and consuming products
- Examples include visiting stores, using coupons, talking to salespeople, test driving, placing items in/abandoning carts, and recycling packaging
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A product refers to any physical or nonphysical item or service offering a benefit to the consumer
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Consumers include anyone engaged in using products and services in the marketplace
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A Need can be defined as a discomforting human condition, either physiological or psychological
- Physiological needs include sensations of hunger or cold
- Psychological needs include feeling bored, insecure, or looked down upon
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A Want is a desire for a specific object or product that a consumer believes will restore them to a satisfactory state
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The discomfort of a hungry stomach is a need, while the specific food desired is a want
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Understanding consumer behavior involves considering economic, psychological, societal, and biological factors beyond just the act of buying
Exchange
- Exchange is the interchange of resources between two parties in return for value
Marketer
- A marketer is an individual or organization aiming to offer products/services for money or resources
- A commercial entity primarily seeks money as its main organizational goal
- A nonprofit offers products/services for free or at a nominal charge
Resources
- Resources are assets or possessions that people value, influencing exchange to satisfy needs and wants
Five Resources
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Money is the most common resource used for marketplace exchange
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Time is a resource gained through time-saving devices
- Hiring help reduces personal time spent on chores
- Time is spent when waiting in line to make purchase
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Knowledge is acquired through books and courses
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Energy is invested in activities like gym workouts, yoga, and supplements to enhance physical well-being
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Social capital includes networks of friends and professional connections for aid
- Acceptance among peers may be gained through designer brands
- Writing thank-you notes and sending gifts strengthens friendships
- Social clubs and associations expand social networks
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Value is the total net benefits received from an activity or exchange and is a primary goal in human exchanges
Four Values
- Utilitarian comes from usage of a product/activity
- It comprises the products effect on the physical self and world
- Social stems from managing social interactions
- It includes warm relations, fitting in, and projecting positive image
- Ego/Identity arises constructing ourselves
- It reflects self-concepts, our sense of ego, our ideas of Who We Are
- Recreation comes from pleasure
- It covers mood and mental refreshment
Consumers possess five resources to exchange for value
- Money
- Time is spent waiting in line
- Energy is the effort exerted
- Social Capital is the network people leverage
- Knowledge, providing data to brands
Consumer Roles/Visions
- Consumers act as problem solvers seeking solutions to everyday needs
- Consumers function as economic entities managing finances
- Consumers operate as computers processing product information like package labels
- Consumers are shoppers, sometimes enjoying the experience regardless of purchase
- Consumers are Revelers seeking enjoyment
Four Social Sciences that Feed Consumer Behavior
- Anthropology examines how people live and adapt based on their cultural and historical development
- Sociology studies social systems, organizations, and how individuals relate within them
- Economics examines resource allocation, production, distribution, and consumption of goods
- Psychology studies mental processes influencing behavior, including perception, attitude formation, and motivations
Understanding Consumer Behavior Is Important For
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Marketers aiming to meet consumer needs by interpreting preferences and designing satisfactory products
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Social Organizations seeking to promote public well-being rather than profits
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Public Policy Makers protecting consumers from deceptive practices and irrational behaviors
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Consumers themselves to understand drivers behind their consumption habits
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The purpose of business and marketing is to create value
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Description
Explore consumer behavior encompassing mental and physical activities before purchase. Learn how needs and wants, whether physiological or psychological, influence consumer decisions. Understand the broad scope of products and the role of consumers in the marketplace.