Chapter 5 Flashcards
Consumer buyer behavior
consumer buyer behavior = is the buying behavior of final consumers – individuals and households that buy goods and services for personal consumption
Consumer markets
Consumer markets = are made up of all the individuals and households that buy goods and services for personal consumption
< Characteristics Affecting Consumer Behavior >
Cultural Factors
Culture = is the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.
< Characteristics Affecting Consumer Behavior >
subCultural Factors
Subcultures = are groups of people
within a culture with shared value
systems based on common life
experiences and situations.
Cultural factors - social classes
Social classes = are society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors. Measured as a combination of occupation, income, education, wealth, and other variables
groups and social networks
Groups and Social Networks
* Reference groups
* Opinion leaders
* Word-of-mouth influence
* Influencer marketing
* Bloggers & Vloggers
* Online social networks
social factors
Social Factors
* Family is the most important
consumer-buying organization in
society.
* Role and status can be defined by a
person’s position in a group.
< Characteristics Affecting Consumer
Behavior >
Personal Factors
Lifestyle = is a person’s
pattern of living as expressed
in his or her psychographics.
Personality = refers to the
unique psychological
characteristics that
distinguish a person or group.
Characteristics Affecting Consumer
Behavior
Psychological Factors
- Motive (drive) is a need that is sufficiently pressing to direct the person to seek satisfaction of the need. ==> Motivation research refers to qualitative research designed to probe consumers’ hidden, subconscious motivations.
- Perception is the process by which people select, organize, and interpret information to form a meaningful picture of the world.
Perceptual Processes
* Selective attention
* Selective distortion
* Selective retention
- Learning is changes in an individual’s behavior arising from experience.
- Beliefs and Attitudes are difficult to change.
Psychological factors
Perceptual Processes
* Selective attention
* Selective distortion
* Selective retention
Psychological Factors
People can form different perceptions of the same stimulus bec of:
- Selective attention is the tendency for people to screen out most of the information to which they are exposed.
- Selective distortion is the tendency for people to interpret information in a way that will support what they already believe.
- Selective retention is the tendency to remember good points made about a brand they favor and forget good points made
about competing brands.
Psychological factors
Learning
Learning is the change in an individual’s behavior arising from
experience and occurs through the interplay of:
* Drives. A strong internal stimulus that calls for action
* Stimuli. A drive becomes a motive when it is directed toward a particular
stimulus object.
* Cues. are minor stimuli that determine when, where, and how the person
responds
* Responses
* Reinforcement – If satisfied will use the brand/service more and more, reinforcing the positive experience
Psychological factors
beliefs
A belief is a descriptive thought that a person has about
something based on:
* knowledge
* opinion
* faith
An attitude describes a person’s relatively consistent evaluations, feelings, and tendencies toward an object or
idea.
Involvement
Definition: The degree of importance or personal
relevance of product
– High involvement:
▪ Infrequent purchase, significant risk
▪ Extensive information gathering
▪ Extensive time commitment to decision making
– Low involvement:
▪ Routinized buying behavior
▪ Familiar or inexpensive product purchases
▪ Limited information gathering
▪ Quick decision
Types of Buying Decision Behavior
involvement & difference between brands
high involvement + significant diff = complex buying behavior
high involvement + few diff = dissonance reducing buying behavior
low involement + singnificant diff = variety seeking behavior
low inv, + few diff = habitual buying behavior
high involvement + significant diff = complex buying behavior
Complex: expensive, risky, purchased infreq, self expressive– Laptops, cars,
perfume, designer jeans: Theory: beliefs → attitudes → behavior purchase
choice
high involvement + few diff = dissonance reducing buying behavior
Dissonance reducing: Cs shop around but buy relatively quickly → based on
good price, convenience, speed of delivery and then seek further confirmation,
after the purchase, that they made the right choice
Consumers are highly involved in the purchase, but have difficulties determining the differences
between brands.
‘Dissonance’ can occur if consumers worry afterwards that they may have made the wrong choice.-
e.g., financial services products, (insurance or investment/stocks
low involement + singnificant diff = variety seeking behavior
Variety seeking →leader wants to encourage habitual beh (shelf space, freq
reminder adv, high product variety
Challenger → encourages switching by lower prices, coupons, free samples,
special deal
low inv, + few diff = habitual buying behavior
Habitual: low cost freq purchased, salt, habit vs loyalty
C’s Passively receive infor as watching TV, add repetition creates brand
familiarity rather than conviction
Symbols & imagery imp → high repetion & short duration, Theory: classical
conditioning;
