Summary: Consumer Behaviour

Read the summary and the most important questions on Consumer Behaviour

• 1 Introduction

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• What is the definition of consumer behavior?

  The totality of consumers' decisions with respect to the acquisition, consumption and disposition of an offering by human decision-making units over time

• Who study CB

  - Marking managers
  - Ethicists and advocacy groups
  - Public policy makers
  - Academics
  - Consumers

• Difference basic and applied research? And why research?

  Basic: explaining, high generalizability
  Applied: predicting, low generalizability 
  
  Intuition trap: gut feelings important but can mislead.

• List CB research methods

  Surveys, Focus groups, Interviews, Storytelling, Photography and Pictures, Diaries, Observations and Ethnographic researchs, Experiments, Conjoint Analysis, Purchase Panels, Database marketing and Big data, Netnography, Psychophysiological Reactions and Neuroscience

• How set up hypothesis?

  Translate research question into hypothesis that supposes the existence of an effect of variable X on variable Y
  
  The hypothesis should include information about the independent variable (X) and the dependant variable (Y) and the direction of the effect (X increases/decreases Y)

• 2 Motivation

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• What is motivation? And the effects of?

  - Inner state of activation that provides energy needed to achieve a goal
  - Consumers can be motivated to acquire, use, or dispose of an offering
  
  High effort behavior
  - drives that bring a goal closer and creates a willingness to spend time and money
  
  High effort information processing and decision making
  - motivated reasoning
  
  Felt involvement
  - consumers experience of being motivated with respect to products or services, or decisions and actions about these
  - enduring vs situational
  - cognitive vs affective

• What are the drivers of motivation?

  Personal relevance
  
  Self-concept
  Values
  Needs
  Goals
  Self-control processes
  
  Risky
  Moderately inconsistent with their prior attitudes

• What is personal relevance

  Something that has direct bearing on self that has potentially significant consequence or implication

• What helps a goal?

  - Forming the intention to implement a plan: fixed, realistic
  - More motivated when initial action was successful  
  - Set a target range
  - Easily visualize the goal] 
  - Successful in achieving other goals
  - Direct attention to what is better: accomplishments, remainder  
  - When far from goal: concern about possible, more ways to achieve it
  - When close to goal: concern when achieve, less variety to achieve, tend to reduce effort and redirect it to other goals

• What is perceived risk and its types?

  Extent to which consumer anticipates:
  - negative consequences of an action to emerge
  - positive consequences to not emerge
  
  Tends to be high because of
  - new offering
  - high price
  - complex technology
  - brand differentiation
  - little confidence or experience in evaluation
  - opinions of others and fear of judgment  
  
  Types of perceide risk
  - performance
  - financial
  - physical or safety
  - social
  - psychological
  - time