Consumer Behavior

Question 1

What marketers should have when it comes to consumers

Answer 1

-must have a through understanding of how consumer think, feel and act
- the feeling of understanding is the most important

Question 2

What is the key to designing a true value proposition ?

Answer 2

understanding consumer needs and problems
- the need is the most important

Question 3

What kind of questions should marketers asks ?

Answer 3

in term of who, what, when, where, how and why

Question 4

What is a need ?

Answer 4

• feeling of missing something that comes from the perception of a gap between what we have and what we wish to have

Question 5

Marketing scholars have developped what ?

Answer 5

a stage model of the decision process, 5 stages

Question 6

What are the 5 stages of the model of the decision process ?

Answer 6

1- Problem recognition (identify what is the problem)
2- Information system (where can i find the info abt the products, how i get the information ? People to People or INTERNET ?)
3- Evaluation of alternatives
4- Purchase decision (act according to what i believe, go in the store and buy)
5- Post-purchase behavior

Question 7

The steps are group into what 3 aspects ?

Answer 7

Cognitive 1-2 : knoledge acquisition
Emotional 3 : emotional more that reason
Conative 4-5 : connected with a wish, intention or effort to do something

Question 8

Consumer’s buying decision process : CONSUMER CHARACTERISTICS : (slide 6 class 4)

Answer 8

• sociodemographic factors : age, occupation, educational level, geographic location, revenue
• psychology factors : motivation, perception, emotions, memory

Question 9

Buying decision process (slide 6 class 4)

Answer 9

-problem recognition
-information search
- evaluation of alternatives
- purchase decision
- satisfaction, dissatisfaction

Question 10

Consumer’s buying decision process : ENVIRONMENTAL INFLUENCE : (slide 6 class 4)

Answer 10

Sociocultural factors : culture, subculture, social class, reference groups, family
Situational or circumstantial factors : reason of purchase, social framework (who do i care abt), environment, time factor, state of mind (ready to buy? financially ready ?)

Question 11

Categories and relative importance of purchase

Answer 11

• routine purchase as commodit : grocery, electricity, full & gas
• Expenses : rental, rental car
• Major expenses : mortgage, financial investment

Question 12

Inluence of sociodemographic factors on purchasing ?

Answer 12

age : needs and desires evolved over time
often used when segmenting markets

occupation : determinning income, expenses and discretionary revenues, variables reevealing class and refernence groups

educational level

geographic location : food, climate, clothing

revenue : main factor in mkg strategic decision, purchasing power, selection of products attributes, selection of brand

Question 13

Maslow’s hierarchy of needs ?

Answer 13

Self-actualization needs
Esteem needs (recognition)
Social needs (sense of belonging, love)
Safety needs (security and protection)
Physiological Needs (food shelter)

Question 14

Influence of psychological factors on purchasing ?

Answer 14

Perception
Emotions
Memory

Question 15

Perception ?

Answer 15

a process where we select, organize and interpret info inputs to create a meaningful picture
- physical stimuli and stimuli’s environment surrounding us
- selective attention : allocation of prcessing capacity to some stimulus
- selective distortion : tendency to interpret information (if we cannot change the perception about what we heard is good the
= perception is hard to change and you have to find out if it thrives to change

Question 16

Emotions ?

Answer 16

Mental state that arise spontaneously rather that from conscious effort.
Human reaction to stimulus

Question 17

Memory ?

Answer 17

The brain ability to record, store and retrieve information and events.
Memory models: short-term and long-term memory.
Memory processes: memory encoding and memory retrieval.

Question 18

Situational or circumstantial factors ?

Answer 18

Reason of purchase
social framework
environment
time factor
state of mind

Question 19

Personal factors

Answer 19

age and stage in the life style
state of mind
mood

Question 20

What are the factors of influence in the decision ?

Answer 20

• Kind of purchase
• Role and influence of purchasing group

Question 21

what is Kind of purchase ?

Answer 21

• Operational expenditure (OPEX) (related to ur state of revenues, income, expense and profit you have, people who have more OPEX to take decisions)
• Capital expenditure (CAPEX) (change our process of manufacturing to change the plan need) (change the future, more risk)
  Importance in business process.

Question 22

What is Role and influence of purchasing group?

Answer 22

• Instigator (bring the idea to the grp)
• Influencer (power to make things happen)
• Decision maker (the one who write the checks, CEO or financial guy)
• Experts (know more than anyone. why and how should we do that)
• Buyers (has the rules, get the right price)
• Users (can choose >< 2 tools which is the best one)