Consumer Behaviour (Lecture #11) Flashcards
Why do people buy some products and not others?
consumers have different motivations and behaviours
What are the categories of consumer motivations?
- Physical
- Lifestyle
- Psychological
- Social
- Cultural
Why do marketers care about consumers’ motivations and behaviours?
- understanding what consumers do, and why they do it, is a vital first step towards being able to predict and influence these behaviours
- helps us to more efficiently orient our marketing actions around the wants and needs of our consumers
Consumer behaviour questions relating to STP and marketing mix: who are the customers?
target segment
Consumer behaviour questions relating to STP and marketing mix: Why do they buy?
benefits sought
Consumer behaviour questions relating to STP and marketing mix: what do they buy?
product
Consumer behaviour questions relating to STP and marketing mix: where do they learn about it?
promotion
Consumer behaviour questions relating to STP and marketing mix: how/when/where do they buy?
price/place
What is the “purchasing funnel” from largest to smallest?
Awareness (of product)
Interest
Desire
Action (buying the product)
What are the 5 steps of the consumer decision process? (general)
- Problem recognition
- Information search
- Evaluation
- Purchase Decision
- Post-Purchase Behaviour
What does problem recognition entail?
noticing there’s a problem to solve
–present does not equal desired state
What does information search lead to?
leads to a set of brands to consider (“consideration set”)
What does evaluation entail?
compare different brands
Describe the internal and external parts of information search and evaluation
internal
-scan memory for past experiences
external
- personal sources (relatives, friends)
- public sources (public rating platforms, government agencies)
- marketing-dominated sources (advertising, salespeople, store displays, company websites)
What is the main driver of repeat business?
satisfaction