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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
Q

Esteem Needs

A

Self esteem, recognition, Status

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26
Q

Self-Actualization Needs

A

Self development and realization

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27
Q

The Maslow’s hierarchy of needs follow the life-cycle. True or false?

A

True

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28
Q

Stages of Buyer Decision Process (5)

A
  1. Need recognition
  2. Information Gathering
  3. Evaluation of Alternatives
  4. Purchase Decision
  5. Post-Purchase Behaviour
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29
Q

The information gathering proceeds through a many sources. What are they? (4)

A
  1. Experiential
  2. Public Source
  3. Commercial
  4. Personal Source
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30
Q

What are the two factors that influence the purchase decision?

A

Attitude of others and unexpected situational factors

31
Q

Post-Purchase Behaviour usually results in _______

A

Cognitive Dissonance

32
Q

Stages Adoption Process (5)

A
  1. Awareness
  2. Interest
  3. Evaluation (Considering Stage)
  4. Trial (Sampling Stage)
  5. Adoption or Rejection
33
Q

Individual adopt new products at varying rates. What are they? (5)

A

Innovators, early adopters, early majority, late majority, laggards.

34
Q

Characteristics that influences the rate of adoption (5)

A
  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
Q

B2B

A

Buying behaviours of firms that buy products to produce other products or resell

36
Q

Business Market

Is there more buyers or less buyers? Do they have a large share?

A

There is less buyer but they occupy a larger share.

37
Q

Demand is ____ from consumers.

A

Derived

38
Q

Types of Buying Situations

A
  1. Straight Rebuy (Order without any modification)
  2. Modified Rebuy
    3, New Task (First time ordering the product_
  3. System (Solution Ceiling)
39
Q

Business Buyer Behaviour Model

A

The environment then, the buying organization, and the buyers responses.

40
Q

Environment category of the Business Buyer Behaviour Model Sub-category, are:

A

Marketing Stimuli: the 4 p’s

Other Stimuli: Economic, Political, Cultural, Competitive, Technological.

41
Q

Buying Center

A

All Individuals that participate in the buying decisions.

42
Q

Influences on Business Buyer Behaviour (5)

A 
Environmental
Organizational 
Interpersonal
Individual 
Buyers
43
Q

E-Procurement

A

Online purchasing

44
Q

How E-Procurement can be implemented?

A

Reverse Auctions
Trading Exchanges
Company buying sites
Extranet link with key suppliers

45
Q

Derived Demand

A

Business demand that ultimately comes from the demand for consumer goods.

46
Q

Perception

A

The process by which people select and organize information to form a meaningful picture of the world.

47
Q

Product Value Analysis

A

Analyzing a product carefully to determine whether it needs to be redesigned and made for efficient and effective to provide a superior value.

48
Q

Modified Rebuy

A

A business buying situation in which the buyer wants to modify product specification.

49
Q

Cognitive Dissonance

A

Buyer Discomfort caused by post purchase conflict.

50
Q

Business Buying Process

A

The decision process by which buyers determine which products and services their organization needs to purchase, and then choose among alternatives

51
Q

Consumer Market

A

All the individuals or households that buy or acquire goods for personal consumption.

52
Q

Supplier Development

A

Development of networks suppliers-partners to ensure a dependable supply of products

53
Q

Opinion Leader

A

A person within a reference group who exerts social influence on others.

54
Q

Cross-Cultural Marketing

A

Cross-Cultural and perspectives within a brand’s mainstream marketing. It appeals to consumer similarities across subcultures

55
Q

System Selling

A

Packaged solution to a problem to a single seller. Hence avoiding all the decision involved in a complex buying situation

56
Q

A consumer behaviour is influenced by four major psychological factors. What are they?

A

Motivation
Perception
Learning
Belief and Attitudes

57
Q

A consumer behaviour influence by five personal characteristics. What are they?

A 
Age and Life Cycle
Occupation
Economic Situation
Lifestyle
Personal and Self-Concept
58
Q

A consumer behaviour is also influence by 4 social factors. What are they?

A

Group
Family
Social Network
Role and Status

59
Q

At what stage of the Buyer Decision Process should the marketer research to identify what kind of needs or problems arise

A

Need Recognition

60
Q

Personal Sources

A

Family, friends, acquaintance, neighbourhood

61
Q

Commercial Sources

A

Salespeople, advertising, displays.

62
Q

Early Adopters

A

2nd. They are usually opinion leaders in their communities and adopt new ideas carefully.

63
Q

Early Mainstream

A

They are usually among the firsts to adopt a product before the average person.

64
Q

Late Mainstream

A

A majority of people have tried it before.

65
Q

Lagging adopters

A

Tradition bound and suspicious

66
Q

Influences of Rate adoption (5)

A 
Relative Advantage 
Compatibility 
Complexity
Divisibility
Communicability
67
Q

Relative Advantage

A

The degree to which innovations appear compared to existing products

68
Q

Compatibility

A

Correspond to the value of the market

69
Q

Complexity

A

The degree to which the innovation is difficult to understand or use.

70
Q

Divisibility

A

Degree to which it has been tried on a limited basis.

71
Q

Communicability

A

Degree to which the innovation has been explained to others.

72
Q

Influences on Business Buyer

A 
Environmental 
Organizational 
Interpersonal 
Individual 
Buyers
73
Q

Stages of the Business Buying Process (8)

A
  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
Q

Bidder’s list

A

a list of firms believed to be qualified to supply a given item

Mark 201 (3 decks)

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