Consumers
What are two types of consumers we mentioned in class?
Final and Business Consumers
Reasons why a consumer purchases
Buying Motives
A need is an unfulfilled desire.
False
Give me that Generation: they have the highest purchasing power, love discounts, and loyalty programs/rewards. Their main social media is Facebook.
Baby Boomers
What income is money left after taking out taxes?
Disposable Income
What are needs?
Desires that arise when a person's current state does not match the person's preferred state.
Motivation influence's a consumers decision (there are 3)
Hedonic Motives, Rational Motives, Patronage Motives
To implement the marketing concept, a business must understand its consumers.
True
Name the 4 Generations
Baby Boomers
Generation X
Generation Y / Mill.
Generation Z
Give me the 4 internal and external factors that influence purchase decisions.
Personality
Gender
Ethnicity
Age
What are the 5 steps in the consumer decision making process?
Need Recognition, Search for information, Evaluation of Alternatives , Purchase Decision, Post- purchase evaluation
Reasons to buy based on facts or logic.
Rational Motives
Businesses that pay attention to post-purchase behavior are more likely to develop loyal customers.
True
Give me that generation: They spend over 10 hours on their phones, most diverse spending group and want to make an impact on society.
Gen Z
BLANK is a frame of mind developed from a person's values, beliefs and feelings.
A. attitude
B. Lifestyle
C. Self-concept
D. Culture
B Lifestyle
Demographics
Daily Double!!!!!!!!!!!!!!! If you shop in the same store time after time, your motivation for choosing the business is?
There are 7 levels in the hierarch of needs.
False. 5 steps
With all the generations the first step in making a decision is recognizing that they have a need, desire or problem
True
Consumer Behavior
What are the five steps in Maslow's theory?
Physiological, safety, love/belonging, esteem, and self-actualization.
Set of positive or negative factors that direct individual behavior
Consumers Motives
Because people are healthier and living longer, a person's age no longer has much influence on consumer behavior.
False
The history, beliefs, customs, and traditions of a group that passed on from generation to generation is the group's
a. personality characteristics
b. culture
c. social class
d. reference groups
B. Culture
The appropriate role of marketers in consumer decision making is to
A. match their products and services to the needs and expectations of consumers
B. Use promotion to change consumers decision making
c. Assume that all consumers use extensive decision making
d. Find consumers who are brand loyal
A. match their products and services to the needs and expectations of consumers