Chapter 5 Consumer Markets and Buyer Behavior Flashcards
Consumer Buyer Behavior
buying behavior of final consumers
Final Consumers
Individuals and households who buy goods and services for personal consumption
Consumer Markets
All individuals and households who buy goods and services for personal consumption
Stimulus Response Model
Marketing and other stimuli enter the buyer’s black box to produce certain choices and purchase responses
They must figure out what is inside the black box and how to turn stimuli into responses
Culture
basic set of values learned by a member of society form family or other institutions
Subcultures
groups of people within a culture with shared value systems based on common life experiences
Social Classes
Society’s permanent and ordered divisions whose members share similar values, interest and behavior
Reference Groups
groups that form a comparison or reference in forming attitudes or behavior
Membership Groups
Group with direct influence, to which a person belongs
Aspirational Groups
Groups an individual wishes to belong to
Opinion leaders (Influentials)
people within a specific reference group with specific skills knowledge and personality who exert social influence over others
Lifestyle
a person’s pattern of living is as expressed in one’s
Activities Interests and Opinions
Personality
person’s unique psychological characteristics leading to consistent and lasting responses to one’s environment
Brand Personality
Specific Mix of human traits that may be attributed to a particular brand
Motive (Drive)
need that is strong to push the person to seek its satisfaction
Perception
process by which people select view interpret information to form a meaningful picture
Selective Attention
People ignore most information they are given
Selective Distortion
People interpret information in a way that fits their beliefs
Selective Retention
People remember good things and tend to forget bad things (in a brand)
Learning
change in behavior through experience
Beliefs
descriptive thought one has about something, based on knowledge faith or opinions
Attitudes
consistent evaluations, feelings, tendencies towards an object or idea that are difficult to change
Complex Buying Behavior
Highly involved, significant perceived brand differences
Dissonance-reducing Buying Behavior
Highly involved, see little brand differences
Habitual Buying Behavior
Low involvement, see little brand differences
Variety-seeking Behavior
Low involvement significant perceived brand differences
Internal Stimuli
Normal needs become strong enough to drive behavior
External Stimuli
Ads, comments
Purchase Decision
buyer’s decision about which brand to purchase
Cognitive Dissonance
discomfort caused by buyer’s remorse
Customer Journey
sum of ongoing experiences consumers have with a brand affecting behavior, engagement, and advocacy over time
New Product
Good, service or idea perceived by some potential customers as new
Adoption Process
mental process one goes through from first learning about an innovation to final regular use
Innovators
(2.5%) daring, try new ideas at some risk
Early adopters
adopt new ideas early, cautiously
are opinion leaders
Early Mainstream
Deliberate but adopt before average person
Late Mainstream
Skeptical and adopt only after majority tested it out
Lagging Adopters and or Traditionalists
Suspicious
Relative Advantage
Apparent Superiority to existing products
Compatability
How does it fit values and experiences of potential customers
Complexity
How difficult is it to understand?
Divisibility
Can it be tried on a limited basis
Communicability
can results be observed or described by others?
