My Consumer Behavior Notes

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I got these definitions from my Consumer Behavior teacher, Professor Corrales. :)

I do not own even one of the definitions here.

I just want to share it so you can easily find definitions related to consumer behavior in just one site.

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Special thanks to

Time - for letting me type these definitions.

My Ear - for hearing and making things audible especially when my professor gave definitions of these terms.

My Hand - for letting me write legibly. LOL :D

and

FATHER GOD ALMIGHTY and LORD JESUS CHRIST for His Will for me to type this. :)

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Consume Behavior - is study of the processes involved when individual or group select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires.

Role Theory - takes the view that much of consumer behavior resembles actions in play.

Exchange - a transaction in which two or more people or organizations give or receive something of value to each other.

Consumers - are purchasers or individual household members who intend to benefit from purchased product and who do not buy products to make a profit.

Demographics - are statistics that measure observable aspects of a population or descriptive characteristics of a population.

example: Birthrate, gende, social status, age, distribution

Market Segmentation - is dividing a market into distinct group of buyers with different needs characteristics or behavior who might need separate product or marketing mixes.

Relationship Marketing - an effort to interact with customers on a regular basis and giving them reasons to maintain a bond with the company.

Database Marketing - tracking customer's buying habits very closely and crafting products and messages tailored precisely to people needs and wants based on the informations.

Psychographics - refers to a aspect of person's lifestyle and personality.

Compulsive consumption - refers to repetitive shopping ,often excessive, as an antidote for tension, anxiety, depression or boredom.

Why there is a need to study consumer behavior?

So the firms can satisfy customer needs to the extend that marketers understand people and organizations that will use the products or services they are trying to sell ad do so better than their competitors.