Chapter 5

Question 1

Consumer buyer behavior

Answer 1

Buying behavior of final consumers

Question 2

Consumer market

Answer 2

All individuals and households that buy or acquire goods and services for personal consumption

Question 3

Buyer’s black box

Answer 3

The “whys” of buying behavior

Question 4

Factors influencing consumer behavior

Answer 4

Cultural, social, personal, psychological

Question 5

Cultural factors

Answer 5

Culture- set of values, perceptions, wants, and behaviors learned

Subculture- group of people with shared value systems based on common life experiences and situations

Question 6

Social factors

Answer 6

Membership groups have direct influence vs reference groups serve as direct or indirect posts of reference in forming a person’s attitude/behavior

Aspirational group- group which individual wishes to belong to

Opinion leaders (aka influentials, leading adopters), word of mouth influence, online social networks, family members, role and status

Question 7

Personal factors

Answer 7

Occupation, age and family life cycle, economic situation, lifestyle (activities, interests, opinions) and personality and self concept

Question 8

Psychological factors

Answer 8

Motivation, perception, learning, beliefs and attitudes

Physiological needs > safety needs > social needs > esteem needs > self actualization needs

Question 9

Brand personalities

Answer 9

1. Sincerity - Method
2. Excitement - Apple
3. Competence - Washington Post
4. Sophistication - Gucci
5. Ruggedness - Jeep

Question 10

Buyer decision process

Answer 10

1. Need recognition
2. Information search
3. Evaluation of alternatives
4. Purchase decision
5. Post purchase behavior

Question 11

Stages in the adoption process

Answer 11

1. Awareness- aware of new product but lacks info about it
2. Interest- invokes consumer seeking info about product
3. Evaluation- consumer considers whether trying new product makes sense
4. Trial- tries new product on small scale to improve estimate of its value
5. Adoption- consumer decides to make full use of product

Question 12

Adopter categories

Answer 12

Innovators- try new ideas at some risk

Early adopters- opinion leaders in their communities and adopt new ideas early but carefully

Early mainstream- adopt new ideas before average person

Late mainstream- adopt an innovation only after a majority of people have tried it

Lagging adopters- adopt innovation only when I has become like a tradition

Question 13

Business buyer behavior

Answer 13

Buying behavior of the organizations that buy goods and services for use in the production of other profits and services

Question 14

Business to business marketers

Answer 14

Just understand business markets and business buyer behavior

Question 15

Business buying process

Answer 15

Determining which products and services to purchase

Question 16

Business markets

Answer 16

Huge and involve more dollars and items than consumer markets

Question 17

Supplier development

Answer 17

Systematic development of networks of supplier-partners to ensure appropriate and dependable supply of products and materials

Question 18

Buying process

Answer 18

Longer and more formalized procedures, buyer and seller more dependent on each other

Question 19

Stages of the business buyer decision process

Answer 19

1. Problem recognition
2. General need description
3. Product specification
4. Supplier search
5. Proposal solicitation
6. Supplier selection
7. Order-routine specification
8. Performance review

Question 20

E-procurement

Answer 20

Online purchasing
Benefits- cuts transaction costs, efficient purchasing for buyers and suppliers, reduces time between order and delivery, helps organization keep track of purchases, less paperwork

Problems- can affect customer-supplier relationship and pits suppliers against one another