MKTG 322 - Exam 1 - Consumer Behavior Questions and Answers High Level 2023

Consumer Behavior - -The totality of consumer decisions with respect to the acquisition, consumption, and disposal of goods, services, time, and ideas by human decision-making unit -Customer Journey - -1. Pre-purchase: searching for products 2. Purchase 3. Post-Purchase: consumption & disposal (Consumption may be 1 time or multiple, single or shared, and public or private) (disposal: trash, recycle, or give away?) -Consumer Journey Steps Expanded - -1. Search 2. Purchase 3. Consumption 4. Disposal -Types of things to consume - -Products, services, time, experiences, ideas (school), etc. -Purchasing includes... - -emotions -Why study consumer behavior? - --make profit -promote prosocial behavior & well-being -understand the human mind -understand ourselves -Who benefits from the study of consumer behavior? - -- mkt managers - policy makers/regulators