GGR252H5 Lecture Notes - Lecture 10: Consumer Behaviour, Distance Decay, Pension
Document Summary
Understanding consumer behaviour consumer behavior relates to shopping orientation: how & why consumers shop, huge impact where you"re going to spend your money, how you"re going to shop retail attributes, specifics of retail factory or format. Past experiences advertising: who we"re focusing on when advertising products rewards. Most important of shopping behavior about age in a broader sense young independnent, senior, in a family. Discretionary & non-discretionary expenditure life cycle is crucial in terms of who you are buying for as a parent, partners, children changes how you are spending your money. Discretionary: where is your shopping activity. Focus of shopping activity family size and composition age. Household change: kids are getting jobs at a younger age, if you give kids money, they will spend it on random things peer pressure. Life cycle implications geography of shopping store type, product mix, market focus.
