CONSUMER AND BUSINESS BUYING BEHAVIOR Flashcards
refers to the market where people buy products for personal use and are not intended for further sale to other people.
Consumer market
is the sequence of steps that a consumer will need to undergo in order to arrive at the final purchasing decisions.
Consumer buying process
collect and utilize information
Information Search
The consumer can attempt to look at information coming from the mass media such as radio, tv, newspapers, magazines, cinema etc.
Public Sources
They consist of handling, examining, testing, or using the product.
Experimental Sources
Composed of family members, friends
Personal Sources
Advertising, salesman
Commercial Sources
sometimes other persons’ attitudes are negative about the consumer’s preferred brand. the consumer may be affected with these negative attitudes and comply with them.
Attitude of others
Increase in price, unemployment
Unanticipated situational factor
some basis of perceived risk could be on price, quality
Consumer’s perceived risk
The standpoint on time could mean time allocated for shopping, time of the day for shopping
TEMPORAL PERSPECTIVE
TIME IS ESSENTIAL FOR COMPREHENSIVE PROBLEM SOLVING. HOWEVER, WHEN
TIME WHEN IS LIMITED, CUSTOMER ARE LIKELY TO
PROCESS INFORMATION LESS.
TIME PRESSURE
BUYING DECISION COULD ALSO BE
AFFECTED BY THE CHANGING SEASONS.
TIME OF YEAR
EVERY INDIVIDUAL HAS HIS OWN BODY CLOCK.
TIME OF DAY
MEANS THE BUYING INTENTION OR
REASON BEHIND THE PURCHASING DESICION OF A CERTAIN PRODUCT OR SERVICE.
PURCHASE TASK
OFTEN TIMES A PURCHASE INFLUENCED BY THE
PRESENCE OF THE OTHER MEMBERS OF THE SOCIETY
WHILE IN A SHOPPING ACTIVITY.
SOCIAL SURROUNDING
The concept of atmospherics includes
the physical surroundings, the music
and the handling of the crowd.
ATMOSPHERIC IN
THE PHYSICAL
SURROUNDING
It can draw attention to a
certain product or a particular
brand and generate a greater
chance of purchasing that
product or brand.
Point-of-purchase displays
Different cultures have particular meanings to Answer
Colors
Obviously, a store with
bad smell would drive away
customers and would not shop
longer.
SMELL
It has been said that
—— influences a customer’s
mood.
music
Based on some
studies, overcrowding in
stores lead to negative
shopping experiences.
Crowds
This is about offering a price purchase
incentive such as some cents-off
sales, buy one take one r even
bundled items.
Promotional deals
It means ;that a store has not restocked the product.
This can cause brand switching or store switching.
Stock out
EVERYONE INVOLVED IN MARKETING KNEW THAT WHEN THE BUYER IS IN THE MOOD, HE IS MORE LIKELY TO PURCHASE GOODS.
ANTECEDENTS STATES:
These are such things as provisional states of depression or high excitement.
Momentary moods
lived feelings that are not attached
to specific event or object.
Moods are short
These are such things as being
tired, feeling ill, and so on.
Momentary condition
is the process by which the individual chooses, sorts out and takes meaning to the information in drawing a significant conclusion.
Perception
this refers to the process where individuals give high attention to information that is useful to them or their direct family members.
Selective attention
consumers retain information which would be helpful to them, and the rest they forget as time passes.
Selective retention
consumers are inclined to perceive information in a manner which would be in harmony with their present ideas and beliefs.
Selective distortion
is a group with which an individual likes to be associated with, and be called as a member of that group.
Reference group
He has the authority to take the purchase decision.
Decision Maker
is the position a person’ occupies in a particular situation.
Status
is the set of norms, values, behaviors, and personality characteristics connected to a status.
Role
This is the family wherein a person
has taken his birth and his
parents have a strong
influence on his behavior.
Family of Orientation
This is the family created by a person
with his spouse and children
and as such the preferences are
likely to change with the
influence of his spouse.
Family of Procreation
is where an individual
belongs in society.
Social class
refers to the beliefs, customs, rituals and practice that a
particular group of people follows.
Culture
people are categorized more particularly based on their shared customs and
beliefs.
Subculture
AN INDIVIDUALS ANTICIPITATION
ABOUT HIS INCREASE INCOME
LEVEL IN THE FUTURE
INFLUENCES HIS BUYING
BEHAVIOR TODAY .
Income expectation
IT IS THE ASSETS THAT ARE EASILY REDEEMABLE INTO THE CASH .
LIQUID ASSETS
IT IS CONSIST OF ALL THE
ORGANIZATIONS THAT OBTAIN
GOODS AND SERVICES USED
IN THE PRODUCTION OF
OTHER PRODUCTS OR SERVICES
THAT ARE SOLD , RENTED,
OR SUPPLIED TO OTHERS.
Business Market
IT IS CONSISTS MAINLY OF COMPANIES MAKING
BUSINESS IN DURABLE GOODS SUCH AS MACHINERY,
MATERIALS , CHEMICALS , VEHICLES, AND OFFICE
FURNITURE AND SUPPLIES.
Industrial Market
IT PURCHASED FINISHED PRODUCTS AND RETRADE
THEM TO THEIR CUSTOMERS FOR THE INTENTION OF
MAKING A PROFIT .
Resale Market
GOVERNMENT ORGANIZATIONS ARE A KEY BUYER OF
GOOD AND SERVICES. GOVERNMENT ORGANIZATIONS
NORMALLY USED SUPPLIES TO PROPOSE BIDS AND
USUALLY THEY GRANT THE CONTRACT TO THE LOWEST
BIDDER .
GOVERNMENT MARKETS
IT IS INCLUDES SHOOLS, HOSPITALS, NURSING HOMES, PRISONS AND OTHER INSTITUTION THAT MUST
BE SUPPLIED WITH GOODS AND SERVICES TO THE
PEOPLE IN THEIR CARE .
INSTITUTIONAL MARKETS
IN THIS CASE, THE PRIOR ROUTINE IS MADE BY THE INDUSTRIALS BUSINESS BUYER WITHOUT ANY ADJUSTMENTS . THE ORGANIZATIONS SIMPLY REBUY PRODUCTS AND SERVICES FROM THE SAME SUPPLIERS.
STRAIGHT REBUY
IS A BUYING
SITUATION IN WHICH A COMPANY REORDERS
PRODUCTS FROM AN APPROVED VENDOR BUT
WANTS TO ALTER SOME ELEMENTS:
Modified rebuy
WHEN A BUSINESS BUYS AN EXACT PRODUCT OR
SERVICE FOR THE FIRST TIME , THEN THIS CASE
Is CALLED . THE PURCHASE IS
DONE FOR THE FIRST TIME WITH NO PURCHASING
EXPERIENCE , AND EXTENSIVE SEARCH IS DONE TO
EVALUATE OPTIONS.
New Task
