COMMERCE 3MB3 Study Guide - Midterm Guide: Air Miles, Collective Brands, Consumer Behaviour
7 Mar 2017
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Document Summary
Consumer behaviour (cb) is the study of the process involved when individuals or groups select, purchase, and use or dispose of products, services, ideas, or experiences to satisfy needs and desires. Cb involves the issues that influence the consumer before, during, and after the purchase. The influences exerted to make consumer buy. Inner working of how we store things in our memory. It"s a process that leads to purchasing; not just the act of purchasing. Avoids premature death (movies may die but entertainment won"t) If you define your business as movies then it"ll die fast because things change. If you change it to entertainment then you"ll be more successful. Bp defined it more than petroleum (rebranded to beyond petroleum"). Not at the risk of shutting down prematurely. Uber satisfies need by transportation not just taxi. Not in terms of product but of consumer need it satisfies. Airmiles segmented by heavy collectors and disengaged loyalty cards and databases.
