Term
| Importance of Consumption |
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Definition
| Consumption plays an important role in our social, psychological, economical, political and cultural lives |
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Term
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Definition
| Choosers, Communicators, Identity Seekers, Pleasure Seekers, Victims, Rebels, Activists |
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Term
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Definition
| choosing between different alternatives |
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Term
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Definition
| Selecting goods that display our roles and statuses |
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Term
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Definition
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Term
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Definition
| In search of a real kick of pleasure |
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Term
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Definition
| Of fraudulent or harmful offerings |
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Term
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Definition
| Reacting against authority, turning something into something else |
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Term
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Definition
| Boycotting products that do not meet ethical standards |
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Term
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Definition
An ongoing process
An exchange in which two or more organisations or people give & receive something of value
Pre-purchase, Purchase, Post-Purchase |
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Term
| What are the pre-purchase issues for consumers? |
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Definition
How does consumers decide they need a product.
What are the sources of information to learn about alternative choices |
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Term
| What are pre-purchase issues for Marketer's |
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Definition
How are consumers attitudes towards products formed and/or changed?
What do consumers use to infer which products are superior to others? |
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Term
| What are the purchase issues for consumers? |
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Definition
Is aquiring the product a stressful or pleasant experience?
What does the purchase say about the consumer. |
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Term
| What are the purchase issues for marketers? |
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Definition
| How does situational factors such as, time pressure and in store displays affect consumer purchase decisions |
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Term
| What are the post purchase issues for consumers? |
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Definition
Does the product provide pleasure or perform its intended purpose?
How is the product disposed of & how will it effect the environment |
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Term
| What are the post purchase issues for marketers? |
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Definition
What determines whether a consumer will be happy with a product and will they buy it again?
Will the consumer tell others about their experience with the product and affect purchase decisions? |
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Term
| Who are the actors in the Consumption play? |
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Definition
Purchaser
User
Influencer
Organisations (company Agents & family) |
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Term
| Why do we need to understand CB? |
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Definition
Businesses will be able to understand their customer needs
Good input for marketing strategy, consumer response will help understand whether a marketing strategy will succeed |
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Term
| What are the emerging consumer trends? |
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Definition
Disintermediation & Reintermediation
Personalisation & Reaggregation
Shopping on demand
Consumers as co-producers
Greater value consciousness
Blurring of consumer & business markets
Power shift to consumers
Automation of consumption |
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Term
| What is Disintermediation? |
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Definition
The removal of intermediaries in the supply chain
"Cutting out the middle man" |
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Term
| What is reintermediation? |
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Definition
| Traditional intermediaries fill new roles by providing added value & assistance |
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Term
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Definition
| the process of tailoring products, ideas, services & experiences to individual users' characteristics or preferences |
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Term
| What is shopping on demand? |
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Definition
| Any time and anywhere procurement and consumption |
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Term
| What are the four elements to "greater value consciousness" |
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Definition
Money,Time, Effort, Space,
(STEM) |
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Term
| What are the 4 stages of the generalised purchase behaviour model (Engel, Kollat & Blackwell) |
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Definition
1. Motivation & recognition of need
2. Information search
3. Evaluate alternatives
4. Purchase
5. Outcomes |
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Term
| What are the 2 dimensions of "Sources of Information"? |
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Definition
Internal - Memories, Past experience
External - WOM, Trial/inspection, Marketing messages |
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Term
| What are the 3 dimensions of "alternative evaluation"? |
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Definition
Belief, Attitude, Intention
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Term
| What are the elements of Multi-attribute models? |
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Definition
Attitudes - characteristics consumers consider when evaluating product
Beliefs - cognitions about the specific object
Importance weights - the relative priority of an attribute to the consumer |
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