Analysing consumer markets Flashcards
What is consumer behavior?
The study of how individuals or groups buy use and dispose of goods, to satisfy their needs.
Name three factors that influence the buying behaviour?
The Study of the culture, study of social groups, study of the individual
Describe the study of the culture
In a culture, values and norms serve as guidelines for human behaviour. Each cultures consists of smaller subcultures.
Describe the study of social groups
Social factors such as reference groups, family and social roles and statuses influence the buying behaviour.
Describe the study of the individual
Here we look at buyers age and stages in lifecycle, occupation and economic circumstances, personality and self concept, lifestyle and values.
What is a reference group
The group that has a direct or indirect influence on behavior
Membership groups
Primary and secondary groups. Primary: people you interact with often, like family or friends. Secondary: Tend to be more formal, require less permanent interaction.
Aspirational groups
Group a person want to join
Dissociative groups
Does not want to join!
Disclaimant groups
Does not want to join, but are joining.
Opinion leader
A person with a high status. Seen as a credible person, like influencers in social media today.
Information processing perspective
The information-processing perspective posits that the interaction between the consumer and marketing information is an ongoing cognitive process
The emotional perspective
proposes that consumer affections, like emotional responses, should be included in the explanation of consumer decision making.
cultural perspective
- Marketing is the a channel where cultural meanings are transferred to consumer goods.
Multi-perspective approach
directs their mental resources at the information most easily available, or the information that is believed to offer the greatest value per used resource unit.
