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Mark 201 > Chapter 6 > Flashcards

Chapter 6 Flashcards

1
Q

Consumer Behaviour

A

Individuals and households buying goods and services for personal consumption

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2
Q

Factors or Characteristics affecting consumer behaviour

A 
Cultural
Social
Personal
Psychological
Buyer
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3
Q

Cultural Sub-factors

A

Culture
Subculture
Social Class

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4
Q

Social Sub-factors

A

Reference Groups
Family
Role or Status

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5
Q

Personal Sub-factors

A 
Age 
Life-cycle 
Occupation
Economic Situation
Personality
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6
Q

Psychological Sub-Factors

A

Motivation
Perception
Learning
Benefits and Attitudes

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7
Q

Culture

A

Basic trigger of wants and goods. It is deeply entrenched, but usually when it changes, it creates opportunities.

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8
Q

Subculture

A

Groups of people within a certain culture with shared value system and behaviours
Regional, demographic, ethnographic.

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9
Q

Social Class

A

Division based on socio-economic status

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10
Q

Reference Groups

A

Groups that form a comparison or reference in forming a behaviour.

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11
Q

Aspirational Groups

A

Group an individual wishes to belong to.

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12
Q

Membership Groups

A

Group with direct influence and to which a person belongs.

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13
Q

Word of mouth influence and marketing businesses represents 80% face to face. After face-to-face, search engines are the number one source to get information . True or false?

A

True

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14
Q

Life Cycle Stage

A

Needs for different product changes over the years.

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15
Q

Self-Concept Theory

A

Possessions contribute to and reflect self-identity.

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16
Q

Motive

A

Desire to achieve something

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17
Q

Learning

A

Behavioural change based on experience

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18
Q

Selective Attention (Falls into the sub-categori of motive in Psychological factors)

A

Way to get someone’s attention

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19
Q

Selective Distortion ‘’

A

Information that support your belief. You are stubborned and close to believe something else.

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20
Q

Maslow’s Hierarchy of Needs

A

It is a motivational theory in psychology that consists of a hierarchal pyramid of the needs .

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21
Q

What is the order, bottom to top, of the Maslow’s hierarchy of needs?

A
  1. Psychological Needs
  2. Safety Needs
  3. Social Needs
  4. Esteem Needs
  5. Self-Actualization Needs
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22
Q

Psychological Needs

A

Our most basic need is for physical survival, such as satisfying thirst and hunger, and this will be the first thing that motivates our behaviour.

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23
Q

Safety Needs

A

Law, protection, security.

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24
Q

Social Needs

A

Love and belongingness needs

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25
Esteem Needs
Self esteem, recognition, Status
26
Self-Actualization Needs
Self development and realization
27
The Maslow's hierarchy of needs follow the life-cycle. True or false?
True
28
Stages of Buyer Decision Process (5)
1. Need recognition 2. Information Gathering 3. Evaluation of Alternatives 4. Purchase Decision 5. Post-Purchase Behaviour
29
The information gathering proceeds through a many sources. What are they? (4)
1. Experiential 2. Public Source 3. Commercial 4. Personal Source
30
What are the two factors that influence the purchase decision?
Attitude of others and unexpected situational factors
31
Post-Purchase Behaviour usually results in _______
Cognitive Dissonance
32
Stages Adoption Process (5)
1. Awareness 2. Interest 3. Evaluation (Considering Stage) 4. Trial (Sampling Stage) 5. Adoption or Rejection
33
Individual adopt new products at varying rates. What are they? (5)
Innovators, early adopters, early majority, late majority, laggards.
34
Characteristics that influences the rate of adoption (5)
1. Relative Advantage (Superior to existing products) 2. Compatibility (Aligned with value of market?) 3. Complexity 4. Divisibility (Integrated into regular use eg. T-shirt vs. brunch) 5. Communicability (Benefit are evident)
35
B2B
Buying behaviours of firms that buy products to produce other products or resell
36
Business Market Is there more buyers or less buyers? Do they have a large share?
There is less buyer but they occupy a larger share.
37
Demand is ____ from consumers.
Derived
38
Types of Buying Situations
1. Straight Rebuy (Order without any modification) 2. Modified Rebuy 3, New Task (First time ordering the product_ 4. System (Solution Ceiling)
39
Business Buyer Behaviour Model
The environment then, the buying organization, and the buyers responses.
40
Environment category of the Business Buyer Behaviour Model Sub-category, are:
Marketing Stimuli: the 4 p's | Other Stimuli: Economic, Political, Cultural, Competitive, Technological.
41
Buying Center
All Individuals that participate in the buying decisions.
42
Influences on Business Buyer Behaviour (5)
``` Environmental Organizational Interpersonal Individual Buyers ```
43
E-Procurement
Online purchasing
44
How E-Procurement can be implemented?
Reverse Auctions Trading Exchanges Company buying sites Extranet link with key suppliers
45
Derived Demand
Business demand that ultimately comes from the demand for consumer goods.
46
Perception
The process by which people select and organize information to form a meaningful picture of the world.
47
Product Value Analysis
Analyzing a product carefully to determine whether it needs to be redesigned and made for efficient and effective to provide a superior value.
48
Modified Rebuy
A business buying situation in which the buyer wants to modify product specification.
49
Cognitive Dissonance
Buyer Discomfort caused by post purchase conflict.
50
Business Buying Process
The decision process by which buyers determine which products and services their organization needs to purchase, and then choose among alternatives
51
Consumer Market
All the individuals or households that buy or acquire goods for personal consumption.
52
Supplier Development
Development of networks suppliers-partners to ensure a dependable supply of products
53
Opinion Leader
A person within a reference group who exerts social influence on others.
54
Cross-Cultural Marketing
Cross-Cultural and perspectives within a brand's mainstream marketing. It appeals to consumer similarities across subcultures
55
System Selling
Packaged solution to a problem to a single seller. Hence avoiding all the decision involved in a complex buying situation
56
A consumer behaviour is influenced by four major psychological factors. What are they?
Motivation Perception Learning Belief and Attitudes
57
A consumer behaviour influence by five personal characteristics. What are they?
``` Age and Life Cycle Occupation Economic Situation Lifestyle Personal and Self-Concept ```
58
A consumer behaviour is also influence by 4 social factors. What are they?
Group Family Social Network Role and Status
59
At what stage of the Buyer Decision Process should the marketer research to identify what kind of needs or problems arise
Need Recognition
60
Personal Sources
Family, friends, acquaintance, neighbourhood
61
Commercial Sources
Salespeople, advertising, displays.
62
Early Adopters
2nd. They are usually opinion leaders in their communities and adopt new ideas carefully.
63
Early Mainstream
They are usually among the firsts to adopt a product before the average person.
64
Late Mainstream
A majority of people have tried it before.
65
Lagging adopters
Tradition bound and suspicious
66
Influences of Rate adoption (5)
``` Relative Advantage Compatibility Complexity Divisibility Communicability ```
67
Relative Advantage
The degree to which innovations appear compared to existing products
68
Compatibility
Correspond to the value of the market
69
Complexity
The degree to which the innovation is difficult to understand or use.
70
Divisibility
Degree to which it has been tried on a limited basis.
71
Communicability
Degree to which the innovation has been explained to others.
72
Influences on Business Buyer
``` Environmental Organizational Interpersonal Individual Buyers ```
73
Stages of the Business Buying Process (8)
1. Problem Recognition 2. General Need Recognition 3. Product Specification 4. Supplier Search 5. Proposal Solicitation 6. Supplier Selection 7. Order- Routine Specification 8. Performance Review
74
Bidder's list
a list of firms believed to be qualified to supply a given item

Mark 201 (3 decks)

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