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16 Cards in this Set
- Front
- Back
What is consumer behavior?
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- Consumer buyer behavior: the buying behavior of final customers – individuals and households that buy goods and services for personal consumption.
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What is consumer market?
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- Consumer market: all the individuals and households who buy or acquire goods and services for personal consumption.
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Explain the three stages of stimulus-response model of buying behavior.
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1. Marketing and other stimuli:
- Marketing: Product, promotion, price, place - Other: Economic, technological, political, political, ecological, and cultural 2. Buyer’s black box: characteristics, decision process 3. Buyer responses: product choice, brand choice, dealer choice, purchase timing, purchase amount |
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Which are the four characteristics that influence consumer purchases?
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Cultural, social, personal and psychological characteristics.
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Describe cultural factors.
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Cultural factors exert a broad and deep influence on consumer behavior. In cultural factors are culture, subculture and social grade included.
- Culture: the most basic determinant of a person’s wants and behavior, it is also important for marketers to spot cultural shifts in order to predict new marketers - Subculture: a group of people with shared value systems based on common life experiences and situations - Social grade: relatively permanent and ordered divisions in a society whose members share similar values, interests and behaviors |
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Describe social factors.
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Social factors are the consumer’s small groups, family, and social roles and status.
Groups and social networks: influences a person’s behavior, - Aspirational groups: a group that a person does not belong to. In marketing, images of aspirational groups are often used to communicate the message that a special product will help you belong to this group. - Reference groups: an actual or imaginary individual or group with a significant influence on an individual’s evaluations, aspirations or behavior - Word-of-mouth influence and buzz marketing: opinion leaders that can influence or lead a group of people, and create a buzz around their product, company or brand - Online social networks: online communications, here marketers hope to interact with customers. Family -Family members influence the buyer behavior -The buying behavior between men and women changes all the time Roles and status -A role consists of the activities people are expected to perform according to the people |
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Describe personal factors.
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A buyer’s decisions are also influenced by personal characteristics, such as the buyer’s age and lifecycle stage, occupation, economic situation, lifestyle and personality and self-concept.
Age and lifecycle stage: - People change the goods and services they buy over their lifetimes Occupation - Marketers try to identify the occupational groups that have above-average interest in their groups Economic situation - Marketers can target different customers depending on their brand and product Lifestyle - Lifestyle is a person’s pattern of living as expressed in his or her psychographics Personality and self-concept - Personality refers to the unique psychological characteristics that lead to relatively consistent and lasting responses to one’s own environment - A brand personality is the specific mix of human traits that may be attributed to a particular brand, five brand personality traits: o Sincerity o Excitement o Competence o Sophistication o Ruggedness |
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Describe psychological factors.
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There are four major psychological factors those influences buying decisions:
- Motivation (drive): a need that is sufficiently pressing to direct the person to seek to satisfy it. Moslow can be connected to people’s drives and motivations - Perception: the process by which people select, organize and interpret information to form a meaningful picture of the world - Learning: an individual’s behavior arising from experience - Beliefs: a descriptive thought that a person has about something, they might be based on real knowledge, opinion or faith - Attitudes: a persons relatively consistent evaluations, feelings, and tendencies towards an object or idea. Attitudes are difficult to change |
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Name four types of buying decision behavior.
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1. Complex buying behavior:
- Consumer buying behavior in situations characterized by high involvement in a purchase and significant perceived differences among brands. 2. Dissonance-reducing buying behavior: - Occurs when consumers are highly involved with an expensive, infrequent or risky purchase, but see little difference among brands. 3. Habitual buying behavior: - Consumer buying behavior in situations characterized by low consumer involvement and few significantly perceived brand differences - If the consumers choose the same brand, it is because of a habit - Price and sales promotions to stimulate product trial 4. Variety-seeking buying behavior: - Consumer buying behavior in situations characterized by low consumer involvement but significant perceived brand differences |
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Name the five different steps in the buying decision process.
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1. Need recognition
2. Information search 3. Evaluation of alternatives 4. Purchase decision 5. Post-purchase behavior |
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Explain need recognition.
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- The buyer recognizes a problem or need
- Can be triggered by internal or external stimuli |
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Explain information search.
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- Not all interested customers search for more information
- Consumers can uptake information from any of several sources: o Personal sources o Commercial sources o Public sources o Experimental sources - Generally the consumer receives the most information about a product from commercial sources, those that marketers control |
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Explain evaluation of alternatives.
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- The consumer ranks brands and forms purchase intentions
- Alternative evaluation: the stage of the buyer decision process in which the consumer uses information to evaluate alternative brands in the choice set |
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Explain purchase decision.
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- Two factors can come between the purchase intention and the purchase decision:
o Attitudes of others o Unexpected situation factors |
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Explain post-purchase behavior.
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- The stage of the buyer decision process in which consumers take further action after purchase, based on their satisfaction or dissatisfaction
- Cognitive dissonance: buyer discomfort caused by post-purchase conflict, every purchase involves a compromise |
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Describe the buyer decision process for new products.
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- Adaption process: the mental process through which an individual passes from first learning about an innovation to final adaption
- Stages in the adaption process: o Awareness: the consumer becomes aware of the new product, but lacks information about it o Interest: the consumer seeks information about the new product o Evaluation: the consumer considers whether trying the new product makes sense o Trial: the consumer tries the new product on a small scale to improve his/hers estimate of its value o Adoption: the consumer decides to make a full and regular use of the new product - Individual differences in innovativeness – people differ greatly in their readiness to try new products - Influence of product characteristics on rate of adaption: depends on the product: o Relative advantage o Compatibility o Complexity o Divisibility o Communicability |