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Consumer Behavior Book Summary - Marketing Pre-Master
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Summary of all the material for the examination of the pre-master Marketing exam from Hoyer's book Consumer Behavior.
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MarketingLecture 1, Ch 1
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 DMU’s over time.
Offering = consumption of all things around us
Acquisition = obtaining goods (buying, trading, gifting, finding), Usage Disposition
Four basic domains in Consumer Behavior:
1. The psychological core
2. the process of making decisions
3. the consumers culture
4. consumer behavior outcomes and issues.
Lecture 2, Ch 12,13,14 (No Ch 12.3/12.4)
Millennials 1980-1994 = Generation Y, idealistic, media and tech.
Generation X 1965-1979, Traditional media
Baby boomers 1946-1964, value individualism and want the freedom.
Gray market over 65 years old
Agentic goal: goal that stresses mastery, self-assertiveness, strength and no emotion.
Communal goal: goal that stresses affiliation and harmonious relations with others.
Nuclear family: father, mother and children
Extended family: nuclear family + relatives such as grandparents, aunts, cousins.
Household structures are changing: 1. Delayed marriage 2. Dual careers 3. Divorce 4. Smaller
families 5. Same-sex couples.
Major decision categories
Husband-dominant decision
Wife-dominant decision
Autonomic decision: is equally likely to be made by husband or wife (not both)
Syncratic decision: is made jointly by husband and wife
Status float: trends that start in the lower and middle classes and move upward.
Trickle-down effect: trends that starts in the upper classes and then are copied by lower.
, Social class consumptions:
Conspicuous consumption: the acquisition and display of goods and services to show
off one’s status.
Parody display: status symbols that start in the lower-classes and move upward
(Brazilians feel hip if they dance capoeira traditional among lower class members.
Fraudulent symbol: Symbol that becomes so widely adopted that it losses status
Conspicuous waste: Visibly buying products and services that one never uses.
Voluntary simplicity: Limiting acquisition and consumption to live less material life.
Status symbol: product/service that tells other about someone’s class standing.
Compensatory consumption: buying products/services to offset frustrations or
difficulties in life.
Value system: total set of values and their relative importance.
Global values: a person’s most enduring, strongly held values that hold in many situations.
Terminal values: highly desired end states such as social recognition and pleasure.
Instrumental values: the values needed to achieve the desired end states such as ambition.
Hedonism is the principle of pleasure seeking.
Dogmatism is a tendency to be resistant to change or new ideas.
Value questionnaires
Rokeach Value Survey (RVS): ask consumers about the importance that they attach
to the 19 instrumental values and 18 terminal values in exhibit 14.2
List of Values (LOV): consumers are presented 9 primary values and need to rank the
values.
Locus of control: people’s tendency to attribute the cause of events to the internal or
external.
Need for uniqueness (NFU) is the desire for a unique position and experiences.
Need for cognition (NFC) a trait that describes how much people like to think.
Lifestyle has three components: (AIO)
1. Activities
2. Interests
3. Opinions
High power distance: Inequality is
acceptable, strict hierarchy, vertical power
structure. Like Germany.
Low power distance: Inequality is not
acceptable, horizontal power structure.
Sweden, NL.
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