Consumer Behavior
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A.Define consumer behavior, and how it relates with the subject of marketing.
b.Select a purchase you have made recently and describe in detail how each of the 4Ps (product, price, promotion, and place) affected your purchasing decision.
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Solution Summary
Definition of consumer behavior as related to marketing. How a certain purchase has been decided according to the 4Ps. References are included.
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I. Consumer Behavior Defined
Consumer behavior is a term that is widely used in marketing. According to Kirchheimer, consumer behavior involves the application of demographics, psychology and sociology so that marketers can understand the behavior and attitudes of consumers that affect their decisions to purchase. The study of consumer behavior educates marketers, public agencies and advertisers on the effect of personality, beliefs, values, and perception on consumers' selection of products and services.
Personality is the pattern of behavior that has resulted on a person's outlook and traits which affect a consumer's response to the environment. Personality can be introversion or extraversion, aggressiveness or timidity. A consumer who is timid might not be able to buy more due to indecisiveness while an aggressive one may become an impulsive buyer.
Beliefs are the consumer's knowledge, feelings and actual response or decision to purchase or not to purchase a certain product. An example of this is how a consumer believes in a company and its products. No matter how good a new product is, if it comes from a company that doesn't sound good to the consumer, he or she will be biased in deciding about it.
Values pertain to the set of standards that a consumer has learned. A value can be a long-term goal or 'terminal value' ...
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