3301%20Ch%201%20new%20supplement

3301%20Ch%201%20new%20supplement - Chapter 1 Supplement...

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Chapter 1 Supplement Consumer Behavior Models Consumer Research
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Models: Foundations for Studying Consumer Behavior Consumer are confronted by and react to many variables 3 Types of variables Stimulus: ads, people Response: result (overt-observable or internal) Intervening: internal to individual (attitudes, motives, predispositions)
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Foundation (cont) Can’t see intervening variable Therefore, make inferences
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Problems of Studying Consumer Behavior Difficulty of inference Behavior is subjective: interpretation Many variables Variables interact with each other Cancel Magnify
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Models Reduce the Complex Can model anything Simplified representation Types Verbal Pictorial
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Uses of Models Organize knowledge for ease of learning Develop theory To describe To predict To explain To control
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Early Consumer Behavior Models Economists Macro-economic – aggregate flow Micro-economic – individual consumption
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Assumptions of Microeconomic Model
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3301%20Ch%201%20new%20supplement - Chapter 1 Supplement...

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