Chapter 7: Identifying and Understanding Consumers

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1. Aspirational A person does not belong but wished to 15. Demographic Factors to Market size
Groups join. Consider When Gender
Analyzing a Retail Age
2. Associative The people around you.
Store's Target Market: Martial and family status
Groups
Income: disposable and
3. Attitudes The positive, negative, or neutral feelings a discretionary
person has about a topic. Birth rate
Example: Feelings a consumer has about a Mobility
retailer such as pricing Occupation
4. Attitudes Factors such as time required and enjoyment Education
Toward of the process of shopping. Where people live
Shopping Employment status (number of
working women)
5. Class The extent to which a person desires and
Ethnic composition
Consciousness pursues social status.
16. Demographics Objective, quantifiable, easily
6. Cognitive Doubt that the correct decision has been
identifiable, and measureable
Dissonance made.
population data.
7. Concentrated A retailer tailors its strategy to the needs of
17. Differentiated A retailer aims at two or more
Marketing one distinct consumer group.
Marketing distinct consumer groups.
8. Consumer The process by which people determine
18. Discretionary income Money left after paying taxes and
Behavior whether, what, when, where, how, from
buying necessities.
whom, and how often to purchase goods
and services. 19. Dissociative Groups A person does not want to
belong.
9. Consumer The process itself and the factors affecting
Decision the process. 20. Environmental Factors State of economy
Process 1. Stimulus Rate of inflation
2. Problem Awareness Physical condition of the retail site
3. Information Search Government regulations
4. Evaluation of Alternatives Changes in retailing opportunities
5. Purchase Social trends and norms
6. Post-purchase Behavior 21. Evaluation of When the person determines the
10. Consumer Social and psychological factors influencing Alternatives criteria to evaluate the importance
Lifestyle purchase behavior. of their decision.

11. Cross- Whereby they shop for a product category 22. Extended Decision Normally for a first time major
shopping at more than one retail format during the Making purchase and extensive time is
year or visit multiple retailers on one spend gathering information and
shopping trip. evaluating alternatives.

12. Cult Loyalty Rejecting the brand would be like rejecting 23. Family Life Cycle Describes how a traditional family
your own values. moves from bachelorhood to
children to solitary retirement.
13. Culture Distinctive heritage shared by a group of
people comprised of beliefs, norms, and 24. Household Life Cycle Incorporated life stages for both
customs. family and nonfamily households.
Example: Individually, success, and material 25. The Importance of a Affects the amount of time the
comfort Purchase consumer will spend to make a
14. Customer When a person regularly patronizes a decision and the range of
Loyalty particular retailers (store or nonstore) that he alternatives considered.
or she knows, likes, and trusts. 26. Impulse Purchasing Purchasing products and/or
brands not planned prior to
entering a store or being expose
to an advertising medium.
27. Inertia Loyalty These shoppers are loyal because it is 42. Psychological Factors 1. Personality
inconvenient for them to switch retailers or 2. Class consciousness
brands. 3. Attitudes (opinions)
4. Perceived Risk
28. Information Determines the alternatives that will solve
5. The Importance of
Search the problem at hand (and where they can
Purchase
be bought) and ascertains the
characteristic of each alternative. 43. Purchase Act An exchange of money or
a promise to pay for the
29. Lifestyles Are ways in which individual consumers
ownership or use of a
and families (households) live and spend
good or service.
time and money.
44. Questions a Retailer Should How far will they travel?
30. Limited Products that have been bought before but
Attempt to Answer the What hours/days are
Decision not regularly.
Following Questions About desired?
Making
Customer Motives and Choices: What level of customer
31. Mass Marketing A firm such as a supermarket or a service is desired?
drugstore sells to a broad spectrum of What level of quality is
consumers. preferred
32. Mercenary When retailers pay customer for their What width and depth of
Loyalty loyalty. merchandise is desired?
Ex. Loyalty programs How important is price?
Are their multiple market
33. Motive The driving force that caused a person to
segments that should be
action to satisfy specific needs.
targeted?
34. Need Any felt state of deprivation of a product
45. Reference Groups Influence people's
or service category.
thoughts and behaviors.
35. Outshopping Out-of-hometown shopping
46. Retailers must identify and Target market; strategy
36. Patronage Why a consumer shops a particular understand their ________ in mix
Motives retailer. order to develop a _________ to
37. Perceived Risk The level of risk a consumer believes exists appeal to them.
regarding the purchases of a good or 47. Retail Shoppers 1.Demographics
service. 2. Lifestyles
38. Personality The sum total of an individual's traits, which 3. Needs and Desires
make that individual unique. 4. Shopping Attitudes and
Example: self-confidence, emotion stability, Behavior
assertiveness 5. Retailer Actions
6. Environmental Factors
39. Possible Dated merchandise
Responses Poor selection 48. Risks 1. Functional
Why Someone Lack of sales help 2. Physical
Would Not Difficulty navigating the store 3. Financial
Shop a High prices 4. Social
Retailer's Cluttered or unclean environment 5. Psychological
Operation: 6. Time

40. Post-purchase Falls into either of two categories: further 49. Routine Decision Making Products that are bought
behavior purchases or re-evaluation. out of habit and/or
regularly.
41. Problem The consumer not only has been aroused
Awareness by social, commercial, and/or physical 50. Social Class Informal ranking of
stimuli but also recognizes that the good society based on factors
or service under consideration may solve such as income,
problem or shortage or unfulfilled desire. occupation, and place of
residence
Note: ISC
51. Social Factors 1. Culture
2. Social class
3. Reference groups
4. Family life cycle
5. Household life cycle
6. Time Utilization
52. Stimulus Is a cue (social and commercial) or a drive (physical) meant to motivate or
arouse a person to act.
53. Three Types of Reference Groups 1. Dissociative
2. Aspirational
3. Associative
54. Time Utilization Refers to the activities in which a person is involved and the amount of time
allocated to them.
55. True Loyalty Retailers get the tier when customers feel compelling reasons to resist offers
from competitive offers.
56. Two Types of Family Life Cycles 1. Orientation
2. Procreation
57. Want Specific satisfier of that need.
58. What Are the Consumer's Motives in Their Choice When a retail strategy aims to satisfy consumer needs and desires.
of a Retailer?
59. Where People Shop 1. In-store shopping
2. In-home shopping
3. Online shopping
4. Outshopping
5. Cross-shopping