Consumer Behavior Chapter 2

What is Conscientious consumerism?

means that consumers are paying attention to sustainability efforts by companies.

What are Phishing scams?

occur when people receive fraudulent emails that ask them to supply account information.

What are examples of crimes against businesses?

-Shrinkage is one such crime which refers to inventory and cash losses caused by shoplifting and employee theft. -Serial wardrobers buy an garment, wear it once, and return it. -Counterfeiting is where companies or individuals sell fake versions of real products to customers.

Why are business ethics important for marketing?

Because if your company isn't ethical consumers will not like you.

What is cause marketing?

a popular strategy that aligns a company or brand with a cause to generate business and societal benefits.

What are consumed consumers?

are people who are used or exploited, willingly or not, for commercial gain.

What are business ethics?

are rules of conduct that guide actions in the marketplace; these are the standards against which most people in a culture judge what is right and what is wrong, good, or bad.

What are some of the dark sides of consumer behavior?

consumer addiction, compulsive consumption, cyberbullying

What is green marketing?

describes a strategy that involves the development and promotion of environmentally friendly products and stressing this attribute when the manufacturer communicates with consumers.

What is consumer addiction?

is a physiological or psychological dependency on products or services.

What is sustainability?

is not just about do-gooder efforts; nearly 6 out of every 10 companies that convert to a sustainable business model report that they have profited financially as well.

What is greenwashing?

occurs when companies make false or exaggerated claims about how environmentally friendly their products are.

· What is corrective advertising?

refers to a situation in which a company must inform consumers that a previous message was wrong or misleading.

What is the triple-bottom line approach to business?

refers to business strategies that strive to maximize return in three ways: financial, social, and environmental.

What is Media literacy?

refers to consumers' ability to access, analyze, evaluate, and communicate information in a variety of forms, including print and non-print messages.

What is compulsive consumption?

refers to repetitive and often excessive shopping performed to relieve tension, anxiety, depression, or boredom.

What is materialism?

refers to the importance people attach to worldly possessions.

What is the economics of information perspective regarding the role of advertising?

regards advertising as an important source of consumer information which consumers are willing to accept because it reduces the economic cost associated with searching for products.

What options do dissatisfied consumers have?

talk to a manager or corprate

What is corporate social responsibility?

the notion that corporations are expected to go above and beyond following the law and making a profit. They must act in a way that is socially acceptable.

What is social marketing?

uses marketing techniques normally employed to sell products or services for profit to encourage positive behaviors and to discourage negative activities.

Why is market regulation needed? What are some of the major regulatory agencies and their responsibilities?

•Concern for the welfare of consumers has been an issue since at least the beginning of the 20th century, and activists continue to voice concerns about a range of issues. •Food and Drug Administration (FDA), which polices advertising claims as well as contents of edible products and pharmaceuticals.

What are the three major public policy issues relevant to consumer behavior?

•Data Protection •Market Access •Sustainability & Environmental Stewardship