Chapter 3: Understanding Retail Consumers Flashcards
1
Q
What are customers’ perceived value?
A
Total customer benefit;
- Personnel benefit
- Product benefit
- Service benefit
- Image benefit
Total customer cost;
- Monetary cost
- Energy cost
- Time cost
- Psychological cost
2
Q
What are the psychological factors that influence buying behavior?
A
- Motivation.
- Perception.
- Personality.
- Learning.
- Attitude.
- Self-concept.
3
Q
What are the sociological factors that influence buying behavior?
A
- Social class.
- Reference group.
- Lifestyle.
- Family.
- Culture.
4
Q
What are the economic and demographic factors that influence buying behavior?
A
- Age
- Occupation
- Economic spending
- Income
5
Q
Describe the key stages in the shopping/ purchasing process and their implications on retailers.
A
- Need recognition
- Pre-purchase search
- Evaluation of alternatives
- Purchase
- Post-purchase evaluation
