What is Consumer Behavior? (With Real World Examples) | From A Business Professor
Summary
TLDRThis video introduces the concept of consumer behavior, which reflects the decisions consumers make regarding acquiring, using, and disposing of goods, services, and experiences. The process involves three main categories: acquisition, consumption, and disposition. It highlights how consumer behavior is dynamic and influenced by internal and external factors like psychology, economics, and social influences. Understanding consumer behavior benefits marketers, non-profits, and consumers by aiding in strategy development, targeting, and decision-making. The video emphasizes the importance of long-term relationships with consumers and effective marketing strategies.
Takeaways
- ☕ Consumers experience marketing transactions daily, such as buying coffee at Starbucks.
- 🛍️ Consumer behavior reflects the totality of decisions related to acquiring, consuming, and disposing of goods, services, and experiences.
- 🧠 Consumer behavior includes not only tangible products but also activities and experiences like vacations, haircuts, and donating.
- 🏛️ Consumers also make decisions in areas like politics, social media usage, and gym memberships.
- 📦 Acquisition is the process of obtaining offerings, including renting, leasing, and trading products or services.
- 👩💻 Consumption involves how consumers use products, and satisfaction or regret often follows based on their experience.
- ♻️ Disposition refers to how consumers get rid of products, which can involve donating, selling, or recycling.
- 🌍 Environmentally conscious consumers prefer reducing waste, recycling, and choosing eco-friendly products.
- 🔄 Consumer behavior is a dynamic process involving acquisition, consumption, and disposition over time.
- 📚 Understanding consumer behavior helps marketers develop strategies, position products, and build long-term relationships.
Q & A
What is consumer behavior?
-Consumer behavior reflects the totality of consumers' decisions with respect to the acquisition, consumption, and disposition of goods, services, activities, experiences, people, and ideas by decision-making units.
What are the three broad categories in which consumers make decisions?
-The three broad categories are acquisition, consumption, and disposition.
What does 'acquisition' mean in consumer behavior?
-'Acquisition' refers to the various ways consumers obtain offerings, such as renting, leasing, trading, or sharing.
How does consumer behavior extend beyond buying products?
-Consumer behavior includes not only buying tangible products but also using services, activities, and experiences, such as getting haircuts, going to the movies, taking vacations, or donating products.
Why is consumer behavior considered a dynamic process?
-Consumer behavior is dynamic because the acquisition, consumption, and disposition processes occur over time and in varying orders. These decisions can also involve multiple people and factors, such as where, when, and how to buy a product.
How do consumer reviews influence other consumers?
-Positive or negative consumer reviews significantly influence other consumers' purchasing decisions by shaping their perceptions of products or services.
What is disposition, and why is it important for marketers?
-'Disposition' refers to how consumers get rid of an offering, such as selling, donating, or recycling it. Understanding disposition is important for marketers because it provides insight into environmentally conscious consumers and their choices.
What role does psychology play in understanding consumer behavior?
-Psychology helps explain internal processes like motivation, perception, and memory, which influence consumers' decision-making.
Why is it important for marketers to understand consumer behavior?
-Marketers can develop better strategies, identify target consumers, and properly position their products in consumers' minds, leading to stronger relationships and increased sales.
How can nonprofit organizations benefit from studying consumer behavior?
-Nonprofits can understand consumer motivations for donating and develop effective strategies to increase donations, such as focusing on emotional appeals by highlighting time rather than money.
Outlines
☕ Everyday Consumer Experiences
In this section, the speaker introduces the concept of consumer behavior by using a relatable example—choosing a coffee at Starbucks. This simple act, influenced by marketing, reflects the daily decisions consumers make while interacting with various marketing stimuli. The example is expanded to show that consumer behavior isn't limited to purchasing goods, but extends to choosing services and activities like gym memberships or streaming content. Marketing plays a key role in influencing these decisions.
🛍 What is Consumer Behavior?
Consumer behavior encompasses the complete decision-making process regarding the acquisition, use, and disposal of goods, services, activities, and experiences. This paragraph elaborates on how consumers not only purchase products but also engage in services and experiences such as haircuts or vacations. It further explains that consumer behavior includes voting, spending time on social platforms, and gym activities. In short, it's the totality of decisions made by consumers in various contexts.
🛒 Acquisition: The First Stage
Acquisition is the initial stage in consumer behavior, where individuals decide how to obtain an offering, whether through renting, leasing, or buying. This paragraph provides an example of comparing rental car prices across different providers like Enterprise and Avis. The focus is on how consumers evaluate various options before settling on a choice that best meets their needs, signifying the importance of comparison in the acquisition process.
📈 Consumption: The Second Stage
After acquiring a product or service, consumers enter the consumption stage, where they experience the offering. The emotional response to consumption can vary, from satisfaction to regret. This section highlights how consumer feedback, whether positive or negative, significantly influences other buyers' decisions. It stresses that marketers must meet consumer expectations to generate positive reviews, thus enhancing their brand reputation and influencing future sales.
♻️ Disposition: The Final Stage
The last stage of consumer behavior is disposition, which involves how consumers get rid of products after use. Disposition methods include selling, lending, donating, or throwing away. The paragraph emphasizes the role of environmentally conscious consumers who choose sustainable options, like recycling or selecting biodegradable products. This stage has significant implications for marketers, as disposal choices affect long-term brand perception and environmental responsibility.
🔄 The Dynamic Nature of Consumer Behavior
Consumer behavior is a dynamic process involving the acquisition, consumption, and disposition stages, which occur over time and often involve multiple decisions. This paragraph explains that consumer decisions are influenced by many factors, such as when and where to buy, and how marketing stimuli play a vital role. It also discusses the interdisciplinary nature of studying consumer behavior, with insights drawn from psychology, economics, and sociology.
💡 Understanding the Broader Implications of Consumer Behavior
This section defines consumer behavior as the study of how individuals, groups, and organizations select, use, and dispose of products or services to satisfy needs. It also examines how these processes impact society as a whole. Understanding consumer behavior allows marketers to develop more effective strategies and build long-term customer relationships. Additionally, non-profit organizations can benefit from these insights to increase donations and better engage with supporters.
📊 Benefits of Studying Consumer Behavior
This final paragraph outlines the advantages of understanding consumer behavior. Marketers can create targeted strategies, improve product positioning, and foster long-term consumer relationships, resulting in increased sales. Non-profits can better understand donor motivation, leading to more effective fundraising efforts. Finally, consumers themselves can make better, informed decisions when navigating marketing stimuli, enabling them to evaluate choices critically.
Mindmap
Keywords
💡Consumer Behavior
💡Acquisition
💡Consumption
💡Disposition
💡Marketing Stimuli
💡Psychology in Consumer Behavior
💡Sociology in Consumer Behavior
💡Dynamic Process
💡Decision-Making Units
💡Non-Profit Marketing
Highlights
Consumer behavior reflects the totality of consumers' decisions with respect to the acquisition, consumption, and disposition of goods, services, activities, and experiences.
Consumer behavior includes not only buying tangible products but also using services, activities, and experiences such as haircuts, vacations, and donations.
There are three broad categories of consumer decisions: acquisition, consumption, and disposition.
Acquisition involves various ways of obtaining offerings, such as renting, leasing, trading, and sharing.
Consumption focuses on how consumers use a product or service and the resulting satisfaction or regret.
Disposition addresses how consumers get rid of offerings through methods like recycling, donating, or throwing them away.
Environmentally conscious consumers may choose biodegradable products and put effort into recycling or reducing waste.
Consumer behavior is a dynamic process, where acquisition, consumption, and disposition can occur over time in different sequences.
Consumer behavior can be influenced by marketing stimuli and various factors such as culture, social influences, and economic considerations.
Psychology, economics, and sociology help explain different aspects of consumer behavior, including motivation, perception, and social influences.
Understanding consumer behavior helps marketers develop better strategies, identify target consumers, and position products effectively.
Managers at non-profit organizations can benefit from studying consumer behavior to develop strategies for increasing donations.
Consumers tend to donate more when they think about time compared to money, as considering time makes them more emotional.
Studying consumer behavior helps consumers make better decisions when faced with various marketing stimuli.
Marketers can build long-term relationships with consumers by understanding their behaviors, ultimately leading to increased sales.
Transcripts
hello everyone welcome to business
school 101 as a consumer you may
experience marketing transactions every
day for example you might want to have a
cup of coffee at a Starbucks and decide
what kinds of coffee and size you want
to have you might also consider buying a
drink using the Stars on a Starbucks
loyalty card that you earned similarly
to this consumers make different kinds
of decisions while interacting with
marketing stimuli in various situations
consumer behavior is everywhere and
every day so what is consumer behavior
in this video I will discuss this topic
with you
consumer Behavior reflects the totality
of consumers decisions with respect to
the acquisition consumption and
disposition of goods Services activities
experiences people and ideas by
decision-making units consumer Behavior
includes not only buying tangible
products such as books or cereal but
also includes the use of consumer
services activities and experiences such
as getting haircuts going to a movie
theater taking a vacation and donating
products at Goodwill moreover consumers
make decisions to vote for politicians
make choices to spend time either on
Instagram or YouTube or decide to work
out at the gym
consumer Behavior involves more than
buying there are three broad categories
in which consumers make decisions and
those are acquisition consumption and
disposition first acquisition the
acquisition includes various ways of
obtaining offerings such as renting
leasing trading and sharing for example
consumers will compare the price of
rental cars in different stores such as
Enterprise Budget Car Rental or Avis Etc
and then they will rent a car that meets
their criteria second consumption after
consumers obtain an offering they use it
for usage consumers can be satisfied or
feel regret from the purchase depending
on their experiences with the usage
consumers provide positive or negative
reviews about the product or Services as
consumer reviews influence other
consumers significantly it is important
to satisfy consumers needs and wants
lastly disposition consumers get rid of
an offering in various ways and it also
provides important implications for
marketers consumers can give away their
used products or sell them lend them to
others or throw them away
environmentally conscious consumers put
effort into Recycling and or reducing
waste and they even try to choose
biodegradable products
besides the above three categories
please also keep in mind that consumer
behavior is a dynamic process because
the acquisition consumption and
disposition can occur over time in a
dynamic order it can involve many people
in many decisions such as where when and
how to buy a product consumers are often
influenced by marketing stimuli and
different domains of the study can
explain consumer behaviors from various
perspectives for example psychology
explains the internal process of
consumers such as motivation perception
and memory psychology and economics
together help to understand consumers
decision-making process sociology
explains why and how consumers are
influenced by external factors such as
culture and social influences
in some consumer Behavior refers to the
study of individuals groups or
organization and the process they use to
select secure use and disposes of
products Services experiences or ideas
to satisfy needs and the impact that
these processes have on the consumer and
Society understanding consumer behavior
is beneficial first of all marketers can
better develop marketing strategies
identify Target consumers and properly
position their products in consumers
Minds by doing so they can build
long-term relationships with consumers
and increase sales next managers at
non-profit organizations can also get
benefits by studying consumer Behavior
they can understand the motivation of
consumers who are willing to donate to
their Charities and can develop an
effective strategy to increase donations
for example when consumers think about
time compared to money they donate more
to charity because thinking of time
makes consumers more emotional lastly
learning consumer behavior is also
helpful for consumers to make better
decisions when they are surrounded by a
bunch of marketing stimuli in the world
all right that's all for today's topic
if you have any questions regarding this
video please leave your thoughts in a
comment below I hope that you guys have
enjoyed this video and if you did make
sure you give it a thumbs up and
subscribe to my channel thanks for
watching and I will see you next time
浏览更多相关视频
The importance of studying consumer behavior
Importance of Consumer Behaviour : Understanding the Buying Mind
Bagaimana Cara Konsumen Mengambil Keputusan | Proses Pengambilan Keputusan Konsumen | Part 1
Lec 11-Understanding Consumer Behavior-2
Consumer Motivational Theories - Thorndike and Alderfer
KEGIATAN EKONOMI | Kelas 10 BAB 3 Ekonomi SMA pertemuan 1
5.0 / 5 (0 votes)