Management and Organizational Studies 1021A/B Study Guide - Midterm Guide: Consumer Behaviour, Brand Equity, Sensory Memory

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Kevin Thompson

Document Summary

Market segmentation: categorize people in terms of demographics, psychographics, to define and decide on techniques. Purchase decisions influences by opinions and behaviors of those around us. Consumption commodities: online, members share views and product recommendations. Large societies share certain cultural values / beliefs about the way the world should be structured. Brands often have clearly defined images/personalities created by product advertising, packaging, branding, and other marketing strategies that focus on positioning in a certain way. When satisfying consumers needs/desires, rewarded with many years of brand loyalty which is difficult for competitors to break. Consumers evaluations affected by appearance, taste, texture, and small. Judgments reflect how society feels ppl should define themselves. Opinions and desires increasingly shaped by input from around the world. Consumer behavior: the study of the processes involved when individuals or groups select, purchase, user, or dispose of products, services, ideas, or experiences to satisfy needs and desires. Identifying opportunities, defining markets, segmentation, building relationships, product,