05 - Consumer Markets & Behaviour

Question 1

consumer market

Answer 1

represents all the consumption patterns of consumers

Question 2

factors that influence consumer behaviour

Answer 2

cultural (culture, subculture, social class)

social (family, role in society, ‘status’)

personal (age, occupation, lifestyle, personality)

psychological (motivation, atitutes, perception of reality)

Question 3

model of consumer behaviour

Answer 3

1. environment
2. buyer’s black box (characteristics + decision process)
3. buyer response

Question 4

cultural impact: subculture

Answer 4

shared value systems based on common life experiences and situations

cross-cultural marketing = appeals to consumer similarities

• ex: religion, ethnicity…

Question 5

social impact: groups

Answer 5

membership groups - direct influence and in which a person falls

reference groups - serve as reference with regard to acquisition of atitudes and behaviours
- aspirational groups - where they wish to fall

Question 6

two very efficient social marketing methods

Answer 6

buzz marketing (opinion leaders)

word of mouth

Question 7

motivational research

Answer 7

qualitative research that aims to discover the hidden motivations in consumer subconscious

Question 8

Maslow’s pyramid

Answer 8

hierarchy of needs

1. self-actualization
2. esteem needs
3. social needs
4. safety needs
5. physiological needs

Question 9

psychological impact: perception

Answer 9

formed through 3 processes:

1. selective attention - screen out most of the information to which we are exposed
2. selective distortion - interpret info to support what we already believe
3. selective retention - more likely to remember good points made about a brand we favor than competing brands

Question 10

types of consumer buying behaviour

Answer 10

complex buying behaviour: high involvement + significant differences b/w brands (eg. cars)

dissonance-reducing buying behaviour: high involvement + few differences b/w brands (eg. carpets)

variety-seeking buying behaviour: low involvement + significant differences b/w brands

habitual buying behaviour: low involvement + few differences b/w brands (eg. salt)

Question 11

buyer decision process

Answer 11

1. need recognition
2. information research
3. evaluation of alternatives
4. purchase decision
5. post-purchase behaviour

Question 12

adoption process and its stages

Answer 12

mental process through which an individual passes from first hearing about an innovation to final adoption

awareness
interest
evaluation
trial
adoption

Question 13

consumer categories based on relative time of adoption

Answer 13

innovators
early adopters
early majority
late majority
laggards

Question 14

influence of product characteristics on rate of adoption

Answer 14

relative advantage
compatibility
complexity
divisibility
communicability

Question 15

buyer discomfort caused by post purchase conflict

Answer 15

cognitive dissonance