What motivates consumers to shop at retail outlets?
T/F: Studies continue to show that price is frequently the prime reason consumers select a retail outlet. t T/F: Perceived risk is considered a consumer characteristic as well as a product characteristic. t T/F: Bargain Seekers are motivated by their perceived role as a shopper who gets good deals and lower prices.
What factors affect the atmosphere of a retail store?
t T/F: One source of sales increases in response to price reductions comes from consumer stockpiling. t T/F: A major component of store atmosphere is the number, characteristic, and behavior of other customers. t T/F: Physical conditions of store atmosphere include layout, equipment, colors, furnishings, and space.
What is consumer behavior-motivation?
Consumer Behavior - Motivation. Needs are the core of the marketing concept. The study of Motivation refers to all the processes that drives in a person to perceive a need and pursue a definite course of action to fulfill that need. What are Needs − Every individual has needs that are required to be fulfilled.
What is a given consumer's or target market's perception of retail?
A given consumer's or target market's perception of all the attributes associated with a retail outlet. Unplanned Purchases Purchases made in a store that are different from those the consumer planned to make prior to entering the store. c
What is consumer in consumer behavior?
Consumer behavior is the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour.
What is an example of consumer behavior?
Based on the information we have gathered, we decide which choice best meets our need or want. For example, we may decide that taking the clothes to the dry cleaners helps them last longer. However, buying an iron might be a better choice if we want to save money over the long-term.
How do you influence consumer behavior?
The six universal principles of persuasion are reciprocity, commitment, pack mentality, authority, liking and scarcity. Marketing campaigns can influence consumer behaviors because they elicit reactions, utilizing imagery and word associations tied to emotional responses.
What is consumer behavior and why is it important?
At its core, consumer behavior is the study of how people make buying decisions. It attempts to understand how buyers choose, use and dispose of products and services, as well as the various stages people go through before making a purchase.
What is consumer motivation?
Consumer motivation is an internal state that drives people to identify and buy products or services that fulfill conscious and unconscious needs or desires. The fulfillment of those needs can then motivate them to make a repeat purchase or to find different goods and services to better fulfill those needs.
What are the 4 types of customer behavior?
There are four types of consumer behavior: habitual buying behavior, variety-seeking behavior, dissonance-reducing buying behavior, complex buying behavior. Consumer behavior types are determined by what kind of product a consumer needs, the level of involvement, and the differences that exist between brands.
What are the 4 factors that influence consumer behavior?
There are four psychological factors that influence consumer behaviour: Motivation, perception, learning, and attitude or belief system.
What are the types of consumer buying behaviour?
There are four types of consumer buying behavior:Complex buying behavior.Dissonance-reducing buying behavior.Habitual buying behavior.Variety seeking behavior.
How do you identify customer behavior?
5 Ways to Understand Consumer Behaviour Through Data-Driven MarketingApply available data to your marketing efforts. ... Base your marketing strategy on scientific analysis. ... Implement a data-driven marketing strategy. ... Remember, interest and intent are not the same. ... It can do wonders for any business, anywhere.
What are the 4 factors that influence consumer behavior?
There are four psychological factors that influence consumer behaviour: Motivation, perception, learning, and attitude or belief system.
Who owns the merchandise and controls the terms of the sale?
The intermediary owns the merchandise and controls the terms of the sale.
Who controls the terms of the sale?
The intermediary does not own the merchandise but controls the terms of the sale.
What does it mean when a customer visits a physical retail store?
Customers visit a physical retail store to buy a single product but eventually buy several related items that are not often stocked in an online store.
What determines which raw materials are placed into production?
Costs, more than customer specifications, determine which raw materials are placed into production.
Why do people visit a physical store?
Customers visit a physical retail store to examine product features or quality firsthand, but then eventually make the purchase online .
Do you have to pick up your order after purchasing online?
Consumers are required to pick up their orders from a physical store after purchasing online.
Do you have to visit a physical store to get access to an online store?
Consumers are required to visit physical stores before getting access to their online store.
Why do marketers have to understand the motives of their potential customers?
In such cases the marketers can readily help their customers by changing their marketing strategy so that the conflict is resolved.
What is consumer behavior?
Consumer Behavior - Motivation. Needs are the core of the marketing concept. The study of Motivation refers to all the processes that drives in a person to perceive a need and pursue a definite course of action to fulfill that need. What are Needs − Every individual has needs that are required to be fulfilled.
What is the basis of motivation?
Needs and fulfillment are the basis of motivation. Change takes place due to both internal as well as external factors. Sometimes needs are satisfied and sometimes they are not due to individual’s personal, social, cultural or financial needs.
What has replaced the traditional broad market groups to which marketers promoted in the past?
More selectively segmented markets have replaced the traditional broad market groups to which marketers promoted in the past.
What happens if a firm introduces a totally new product with no close substitutes?
Unlike a firm that launches a new item resembling several others already on the market, a firm that introduces a totally new product with no close substitutes will have no pricing freedom.
What is an example of cannibalization?
The customer, as a result, wastes time searching for the product. This is an example of brand cannibalization.
Why do companies partner with suppliers?
They partner closely with suppliers and service providers to reduce customer wait times for products.
Why do people visit a physical store?
Customers visit a physical retail store to examine product features or quality firsthand, but then eventually make the purchase online .
When is informative promotion the main goal?
Informative promotion typically becomes the main promotion goal when the product enters the growth stage of its life cycle.
What is the order cycle time?
Order cycle time is the time between order and customer receipt.
Why do low-effort consumers not consciously choose a brand?
the key difference is that with low-effort consumers do not consciously choose a brand because they like it or know how it performs, they choose a brand/product and then evaluate its performance later
When would a consumer be more likely to conduct an external search by brand?
A consumer would be more likely to conduct an external search by brand when they are in a store.
Why are consumers more likely to repurchase a product from a particular brand?
Because consumers are more likely to repurchase a product from a particular brand if the deem the quality as better than it's competitors and form a positive evaluation
How does affective forecasting influence decision making?
Affective forecasting influences decision making because consumers are making decisions based on how they might feel in the future
Why are consumers with better defined goals more likely to use an alternative-based strategy?
Consumers with better defined goals are more likely to use an alternative-based strategy because they can more easily recall the various options and results
Why would a company want to be in the consumer consideration set?
A company would want to be in consumers consideration set because they will have the opportunity to be chosen and at the top of consumer's minds
What does it mean when a consumer has a positive or negative attitude towards a brand?
the consumer may have a positive or negative attitude for a brand/product if they have unconsciously got an impression of the brand/product through their senses
What is a group of closely related product items called?
Correct. A group of closely related product items is called a product line . See 10-3: Product Items, Lines, and Mixes.
What is trialability in a product?
d. trialability "Trialability" is the degree to which a product can be tried on a limited basis. It is much easier to try a new toothpaste or breakfast cereal, for example, than a new personal computer. See 11-5b Product Characteristics and the Rate of Adoption
Does Kate provide a quick response to the customer?
Correct. If the company follows customer service management, Kate is most likely to provide a quick response to the customer using customer care software. The customer service management process presents a multicompany, unified response system to the customer whenever complaints, concerns, questions, or comments are voiced. The use of customer care software enables companies to enhance their customer service management process. See 13-3: The Key Processes of Supply Chain Management.
What happens when consumers focus on a stimulus?
Focal attention happens when consumers focus on a stimulus.
What is the purpose of dairymeisters?
Dairymeisters, a company that makes food products, conducts a survey that reveals that delicious desserts usually have a high fat and calorie content. In order to capitalize on this, they begin the development of a low-calorie, healthy, and delicious dessert as a substitut e to the high-fat items.
What is cognitive style?
Cognitive style refers to a consumer's: a. decisions about brand choices, consumption, disposition, and spending. b. experience of being motivated with respect to a product or service. c. knowledge of and access to cultural resources.
Theories of Motivation
- Maslow’s Theory of Need Hierarchy
Based on the notion of a universal hierarchy of human needs Dr Abraham Maslow, a clinical psychologist formulated a widely accepted theory of human motivation. This identifies five basic levels of human need which rank in order of importance from lower level needs to higher level n…
Maslow’s Need Hierarchy Theory
- Physiological Needs− Food, clothing, air, and shelter are the first level needs. They are known as the basic necessities or primary needs.
- Safety or Security Needs− Once the first level needs are satisfied, consumers move to the next level. Physical safety, security, stability and protection are the security needs.
- Social Needs− After the safety needs are satisfied, consumers expect friendship, belonging, …
- Physiological Needs− Food, clothing, air, and shelter are the first level needs. They are known as the basic necessities or primary needs.
- Safety or Security Needs− Once the first level needs are satisfied, consumers move to the next level. Physical safety, security, stability and protection are the security needs.
- Social Needs− After the safety needs are satisfied, consumers expect friendship, belonging, attachment. They need to maintain themselves in a society and try to be accepted.
- Esteem Needs− Then comes esteem needs such as self-esteem, status, prestige. Individuals here in this stage want to rise above the general level as compared to others to achieve mental satisfaction.
Motivational Theory and Marketing Strategies
- Marketers have to understand the motives of their potential customers to enjoy good sales. A buyer has several motives and each change with various elements. In such cases the marketers can readily help their customers by changing their marketing strategy so that the conflict is resolved. Following are the major conflicts that may arise − 1. Approach Conflict− This conflict a…