Consumer Behavior Chapter 9 (Buying & Disposing)

Total Quality Management (TQM)

A complex set of management and engineering procedures that aims to reduce errors and increase quality

Being Space

A retail environment that resembles a residential living room where customers are encouraged to congregate

underground economy

Buying and selling of goods and services that is concealed from the government to avoid taxes or regulations or because the goods and services are illegal

Mental Budgets

Consumers pre-set expectations of how much they intend to spend on a shopping trip

Expectancy disconfirmation model

Difference between expectations of product/service and actual performance of product/service

Shopping orientation

General attitudes about shopping

Mobile Shopping Apps

I know what mobike shopping apps are

Activity Stores

Letting consumers participate in the production of the products or services they buy there

Abandoned products

Stuff you bought and just never used. We bought it to use for a specific event but that event never arrived.

Impulse Buying

Sudden urge a customer can NOT resist

Atmospherics

The physical elements in a store's design that appeal to consumers' emotions and encourage buying

gemba

Where the action occurs.

Lateral cycling

a process in which already purchased objects are sold to others or exchanged for other items

Freegans

a takeoff on vegans, who shun all animal products; anticonsumerists who live off discards as a political statement against corporations and materialism

Point-of-purchase (POP) stimuli

advertising or other display materials set up at retail locations to promote products to potential customers as they are making their purchase decisions

timestyle

an individual's priorities on time spent on activities

Sharing sites

base business model around allowing people to share, exchange, rent goods in local setting Snap goods, Neighborgoods.com, Share Some Sugar

Time poverty

consumers' belief that they are more pressed for time than ever before

Minipreneurs

one-person businesses

Co-consumers

other patrons in a consumer setting

Consumer Satisfaction/Dissatisfaction (CS/D)

positive feeling or reaction customers have when a business or products meets their needs

pretailer

provides exclusive styles by prodding manufacturers to produce runway pieces they wouldn't otherwise make because store buyers weren't sure anyone would pay the money for them

Pop-up stores

stores in temporary locations that focus on new products or a limited group of products

Retail theming

strategy where stores create imaginative environments that transport shoppers to fantasy worlds to provide other kinds of stimulation.

Queuing Theory

the mathematical study of waiting lines

open rates

the percentage of people who open an email message from a marketer

Divestment Rituals

the steps people take to gradually distance themselves from things they treasure so that they can sell them or give them away

Store Image

the way the marketplace perceives a retailer relative to the competition

Unplanned buying

when a consumer buys merchandise she did not intend to purchase, often due to a new need