Business Buyer Behavior and Consumer Buyer Behavior Flashcards
What is consumer buyer behavior?
The buying behavior of individuals and households purchasing goods and services for personal consumption.
What are the four components of marketing stimuli?
Product, price, place, promotion
What is included in “other stimuli” affecting consumer behavior?
Economic, technological, social, and cultural factors
What does the “consumer’s black box” represent?
The characteristics and decision process of consumers.
Name the responses in consumer behavior.
Product choice, brand choice, purchase timing, and amount
How does culture influence consumer behavior?
Culture is a fundamental determinant of a person’s wants and behavior
What is the difference between culture and subculture?
Culture encompasses shared values of a society, while subculture refers to groups within cultures with shared values.
How do social factors influence consumer behavior?
Groups, social networks, family, and roles/status shape buying decisions.
What personal factors affect consumer behavior?
Age, life cycle stage, occupation, economic situation, lifestyle, and personality.
What are the psychological factors influencing consumer behavior?
Motivation, perception, learning, beliefs, and attitudes.
Describe complex buying behavior.
High involvement with significant brand differences.
What characterizes habitual buying behavior?
Low involvement with few brand differences.
What is business buyer behavior?
he buying behavior of organizations purchasing goods and services for production or resale.
What is a straight rebuy?
A routine purchase with no modifications.
Define modified rebuy.
A purchase with changes in specifications or suppliers
