DM 272 1st Edition Lecture 1Outline of Current Lecture I. What is Consumer Behavior?II. Consumption Analysis/Research III. Why Study Consumer Behavior?IV. Interdisciplinary Influencers on the study of Consumer BehaviorCurrent LectureWhat is Consumer Behavior?- The study of the processes involved when individuals, or groups select, purchase, use, ordispose of products, services, ideas, or experiences to satisfy needs and desires (p.7)- Consumer behavior is a process- A consumer is: o A purchasero A usero An influencer- Three stages of the consumption process: o Prepurchaseo Purchaseo Postpurchase- It is not just about why we buy, it’s about consumption analysis and researchConsumption Analysis/Research- Analysis of why, how, where, and when people use products in addition to why/how they buy. - To help identify new uses for existing products or new product to satisfy unmet or changing consumer needs. - Important demographic and psychographic variables that make one consumer the same as or different from others. o Ageo Gendero Family Structureo Social class and incomeThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Race and ethnicityo Geographyo Lifestyleso Personalities- Consumer appear different but respond in similar ways to stores/brandsWhy study Consumer Behavior?- CB affects personal policyo Understand yourself as a consumer- CB determines the economic health of everyoneo Overeating, overspending, product misuse, etc. - CB helps formulate public policyo Educating consumers about problems (e.g., overconsumption vs. under consumption) and providing help- CB determines the economic health of a nationo Your dollars as your “vote”Interdisciplinary Influences on the Study of Consumer Behavior- The pyramid of consumer behavior- An applied social science that utilizes various
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