Consumer Behavior Exam #3

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Consumer Behavior Exam #3
2015-04-09 01:24:20
Consumer Behavior

Consumer Behavior
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  1. Initiator
    The person who brings up the idea or identifies the need in the decision making process
  2. Gatekeeper
    Conducts the information search and controls the flow of information available to the collective group
  3. Trends in family size
    Women wanted fewer children, fewer generations living under one roof
  4. Extended families
    Three generations (grandparents, aunts, uncles, and cousins) living together -- once the most common family unit
  5. Modified rebuy
    Rebuying a product with a small change. Limited decision making and one or a few buyers involved
  6. Boomerand kids
    Adult children who return to live with their parents
  7. Family Decision Making -- Accomodative
    Members have different preferences and they can't agree on a purchase to satisfy the minimum expectation of all involved
  8. Family Decision Making -- Syncretic
    Both partners involved. Used in buying cars, vacations, homes, etc. When education increases, so does syncretic decision making
  9. Family Decision Making -- Indulgent
    A parenting style characterized by less restrictive parenting, believes children should be allowed to learn about the marketplace without much interference
  10. Discretionary income
    Amount of income left over after taxes and personal necessities; increased post WWII. More discretionary income occurred as women entered the work force and gained education
  11. Behavioral economics
    Study of the human side of economic decisions
  12. Ascribed vs Achieved Status
    • Ascribed -- inherited status
    • Achieved -- earned status
  13. Predicting purchase of expensive symbolic products
    Need both social class and income to predict purchase of expensive products such as cars or homes
  14. Taste cultures
    Differentiates people in terms of their aesthetic and intellectual preferences
  15. Status symbols
    • We evaluate ourselves in relation to others; what matters is having more wealth or
    • fame than others; we have motivation to obtain products that will let others
    • know we have made it
  16. Homogamy
    The tendency to marry within one's social class
  17. Social stratification
    The creation of an artificial division within a society
  18. Subcultures
    A group whose members share beliefs and common experiences that set them apart from others. Examples include age, race/ethnicity, and place of residence
  19. Microcultures
    A group that shares a strong identification with an activity, lifestyle, or art form. They may have their own unique set of norms, vocabulary, and product insignias
  20. High context culture
    Group members are tightly knit and infer meanings that go beyond the spoken word. Symbols and gestures are used instead to carry the weight of the message
  21. Low context culture
    Group members are less sensitive to ethnicity. They are also less sensitive to nuances in advertising
  22. De-enthnicization
    When a product we associate with a specific ethnic group detaches itself from its root and appeals to other groups as well
  23. Acculturation
    Process of movement and adaptation to one's country's cultural environment by a person from another country
  24. Acculturation Agents
    People who influences those to become more adapter to their own cultures; family, friends, church organizations, media, etc.
  25. Characteristics of Asian and Hispanic Subcultures
  26. Largest subculture
    Hispanic population at 12.5%
  27. Cohort
    A group of people that band together
  28. Nostalgia
    Sentimental longing or wistful affection for the past. Values and symbolism used to appeal to age cohorts cause nostalgia. Adults older than 30 most susceptible to nostalgia -- many campaigns use music
  29. Teenagers and how to talk to them (rules of engagement)
    • o   Want to purchase things that help them
    • feel like they belong. Also want to find their own unique identity
    • o   #1 Don’t talk down to them
    • o   #2 Don’t try to be what you’re not
    • o   #3 Entertain them. Interactive and short
    • o   #4 Show that you know what they’re going
    • through but keep it light
  30. Teen values and conflicts
    • o   Autonomy versus belonging: Want to be
    • independent but also want a support structure
    • o   Rebellion versus conformity: Rebel
    • against social standards but they also want to fit in and be accepted by others
    • o   Idealism versus pragmatism: view adults
    • as hypocrites and see themselves as sincere
    • o   Narcissism versus intimacy: obsess about
    • their appearance and needs but also want to connect with others
  31. Millennials and the digital world
    • o   First to grow up with computers
    • o   Multitasks
  32. Baby boomers
    • o   1946-1965
    • o   Families established boom after WWII
    • o   Age is a state of mine
  33. College Market and Media
    • o   Extra buying money
    • o   Undeveloped brand loyalty
    • o   Hard to reach through conventional media
    • o   Can be reached where they live and play –
    • spring break, online, sample boxes, wall media
  34. Gen X's reputation
    Responsible for many culture changing products like Google, Youtube, Amazon
  35. Elderly Consumers
    Seniors spend increasing amounts on exercise facilities, cruises and tourism, cosmetic surgery and skin treatments, and "how-to" books and university courses