Summary Consumer Behaviour

Define the term Consumer Behaviour

Answer: the behavior that consumers display in searching, purchasing, using, evaluating and disposing of products and services that they expect will satisfy their needs.

What is the relevance of the study Consumer Behaviour to the field of marketing?

Answer: The marketing concept seeks to identify the many similarities and constants that exist among people.

The development of marketing has different stages, describe the 4 aspects of the production concept

Answer: 1. Consumers are mostly interested in product availability at low prices. 2. marketing objectives are cheap, efficient production and intensive distribution. 3. consumer will buy what is available instead of waiting to buy what they really want 4. Happens in developing countries or when the objective is to expand the market

The development of marketing has different stages, describe the 3 aspects of the product concept:

Answer: 1. consumer will buy the product that offers the highest quality, best performance and the most features. 2. Constant strive to improve the product quality and add features that are technically feasible. 3. May lead to market myopia. (focus on the product instead of consumer needs)

The development of marketing has different stages, describe the 3 aspects of the selling concept:

Answer: 1.Marketer\'s primary focus is selling the product that has unilaterally been decided to produce. 2. assumes consumers are unlikely to buy products unless they are aggressively persuaded to do so. 3. Fails to consider customer satisfaction.

The development of marketing has different stages, describe the 4 aspects of the marketing concept:

Answer: 1.Marketer\'s began to realize they could easily sell more goods when they produce those goods already determined that consumers would buy. 2. Assumes that to be a successful a company must determine the needs and wants of specific target markets and deliver the desired satisfaction better than the competition. 3. focuses on the demand of the buyer instead of the seller. 4. focuses on profit through customer satisfaction rather than sales volume.

The development of marketing has different stages, describe the 3 aspects of the societal marketing concept:

Answer: 1. requires all marketers to adhere to principles of social responsibility. 2. should endeavor to satisfy the needs & wants of their target markets in ways that preserve and enhance the well-being of the consumers and society as a whole. 3.fulfil the needs of the target audience in ways that improve society

Define the three drivers of successful relationship between marketers and consumers:

Answer: 1. Customer value 2. Customer satisfaction 3. Customer retention

Define customer value in three points:

Answer: 1. CV is the ration between perceived benefits and the resources used to obtain those benefits. 2. Perceived value is relative and subjective 3. value proposition: a term rapidly replacing the popular business phrase: USP

Define customer satisfaction:

Answer: an individual\'s perception of the performance of the product or service in relation to his/her expectations