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