Chapter 6: Consumer Markets and Consumer Buying Behaviour Flashcards
5 premises of Consumer behaviour
consumer behaviour is goal orientated consumers has free choice consumer behaviour is a process consumer behaviour can be influenced there is a need for consumer education
Market Stimuli (4 P’s)
product
price
place
promotion
Other Stimuli
economic
technological
political
cultural
Factors Influencing Consumer Behaviour
Cultural (subculture/social class) Social (reference groups/family) Personal (demographics,age,income,lifestyle) psychological (motivation/perception) BUYER
Culture
most basic determinant of a person’s wants and behaviour
Subculture
groups of ppl w shared value system based on common life experience and situtations
social classes
relatively permanent and ordered divisions in a society whoes members share similar values/interests
Social Factors
family
social role
status
Personal Factors
age
life-cycle stage
economic situation
LIFESTYLE persons patterns of living expressed in his or her activities
VALS= values and lifestyles framework
personality and self concept (who we see ourselves as)
Psychological Factors
Maslow
Herzberg (motivators and hygiene theory)
Buyer Decision Process
Needs Recognition Information Search Evaluation of Alternatives Purchase Decision Postpurchase behaviour
Need Recognition
potential buy must recognize a problem or need
caused by internal or external stimuli
Information Search
personal sources:friends/family etc
Commercial sources: adverts, dealers
Public Sources: restaurant reviews, editorials
Evaluation of Alternatives
rank attributes and form purchase intentions
post purchase behaviour
the smaller the gap btwn customer expectation and perceived performance the greater the customer satisfaction
