Chapter 3 Flashcards
What two things does the consumer market entail?
Consumer behaviour and a goal
What is consumer behaviour?
individuals and households buying goods and services
what is a goal in a consumer market?
creating marketing programs which trigger desired behaviour
what are cultural factors that influence buyers?
culture, sub culture, social class
what are social factors that influence buyers?
reference groups, family, rules and status
what are personal factors that affect buyers?
age and life cycle stage, economic situation, lifestyle, personality and self concept
what are some psychological factors that affect buyers?
motivation, perception, learning, beliefs and attitudes
what is a basic trigger of want and behaviour that is deeply entrenched but when changed creates opportunity?
culture
what is a shared value system within groups? this is regional, founding nations, ethnic, and mature consumers
subculture
what are divisions based primarily on socio economic status?
social class
what are reference groups and what factoring group are they apart of for consumers?
reference groups are membership and aspirational groups vary in how they influence consumer behaviour - social factors
these also include words of mouth influence: more credible than marketing communications
involve opinion leaders, brand ambassadors, online social networks
within social factors for buyers, what is the definition of family?
household “power -broker(s)” influence buying behavior changing family styles, children
social factors: what’s the difference between roles and status?
role = expected activities status = esteem given to role by society
why is self concept theory taken into account for personal factors of consumption”?
suggests possessions contribute to and reflect personal identities
why is job taken into account as a personal factor, separately of personal finance?
job affects the products bought
and personal finances affects buying choices
what is the definition of psychographics?
the analysis of consumer lifestyles that offers insight into behaviours
what are the 4 psychological factors?
motivation, perception, learning, beliefs and attitudes
what is perception in psychological factors?
process of selecting, organizing and interpreting information
What are the levels to maslow’s hierarchy of needs?
physiological needs, safety, social, esteem, self actualization
what are the 5 stages in buyer decision process?
- need recognition
- information search
- evaluation of alternatives
- purchase decision
- post - purchase behaviour
buyer decision process:
- need recognition is triggered….
internally or externally
buyer decision process:
- information search proceeds….
through a variety of sources, internal and external
- personal sources
- commercial sources: provides the most information (not always objective)
- public sources
- experiential sources
the multi screen world figure in slides.. .general concepts.. what are they?
- majority of media consumption is screen based
- consumers move between multiple devices to accomplish their goals
- television is often accompanied by another device
- online shopping is a multi screen activity
what is show rooming and why was it discussed in class?
show rooming is using a mobile device in store to check online competitive product reviews and prices
brought up because people typically use phone when shopping in person.
buyer decision process:
purchase decision further influenced by:…
attitudes of others
unexpected situational factors
buyers decision process:
what things affect post purchase behaviour?
hinges on buyer’s expectations vs. actual performance of product.
what is the marketing mix again? since it influences consumer purchase decision process…
product, price, promotion, place
what are situational influences on consumer purchase decision process?
purchase task, social surroundings, physical surroundings, temporal effects (time) , antecendent states
what are antecedent states?
momentary moods, conditions of buying (anxiety), pleasantness, hostility, cash on hand, fatigue, and illness
what are business to business (B2B)?
marketing products to organizational buyers (industrial, reseller, government, non profit)
Business Buyer Behaviour
market structure and demand, nature of the buying unit
fewer but larger buyers, buying teams assess, size of buys are large
Differences between B2B and B2C?
B2B buying….
more complex, more formalized, buyers and sellers are interdependent organizations of one another.
organizational buying criteria includes….
detailed specification for product or service OR the characteristics of the supplier
It also includes Reverse marketing where the seller modifies physical product for the consumer
3 kinds of purchases in B2B
straight rebuy, modified rebuy, new task
straight rebuy - order without any modifications
modified rebuy - order with modifications
new task - first time order of a product
what are some characteristics of the buying center?
all individuals included in the purchase decision - not a fixed or formally identified unit with varying size.
when influencing buying centre of organizations, what questions do marketers need to answer?
which individuals are in the buying centre for the product?
what is the relative influence of each member of the group?
what are the buying criteria of each member?
how does each member of the group perceive, the potential supplier, its products and services, and its salespeople?
what is the list of buying criteria that indivdiuals of the buying centre might think about?
price, quality, delivery, technical capabilities, warranties/claims, past performance, production facilities and capability
labels for people in the buying centre?
users - technically sound
influencers - consultants
buyers - selection of candidates
deciders
gatekeepers- filter of information
5 things that B2B market segmentation is based on…
type of consumer, size of customer, type of buying situation, customer location, benefits sought
stages of business buying process
problem recogition –> general need description –> product specification –> supplier search –> proposal –> supplier section –> order routine –> performance review
stages of business buying process
problem recogition –> general need description –> product specification –> supplier search –> proposal –> supplier section –> order routine –> performance review
2 reasons why online buying is prominent of B2B purchasese
1) buyers need information fast
2) reduces cost of buyers because reduced marketing costs, buy order costs, customer base
relationship between auctions of number of sellers and buyers?
if the number of buyers goes up… price goes up
if the number of sellers increases, the price goes down
