Consumer (& Business) Behavior Flashcards
Consumer Buyer Behaviour
Buying behaviour of final consumers that buy goods and services for personal consumption.
Characteristics affecting Consumer Beahviour
CSPP - Cultural, Social, Personal, Psychologicalt
Culture
Basic values learned by a member of a society from family/important institutions.
Social
Roles and status in society, family members and groups that affect a persons values.
Personal
Age/stage in lifecycle, Occupation, Education, Personality, Economic Situation.
Psychological
Motivation, perception, beliefs/attitudes.
Buyer Decision Process
Need Recognition, Information Search, Evaluation of Alternatives, Purchase Decision, Post-purchase Behaviour.
Cognitive Dissonance
A buyers doubts shortly after purchase about whether the decision was the right one
Impulse Buying
A purchase made solely on impulse, non of the problem solving processes are used.
Roles in the Buying Process
Initiator, Influencer, Decider, Buyer, User
Five Stages of Adopting a New Product
Awareness, Interest, Evaluation, Trial and Adoption
Producer Markets
Individuals/businesses that purchase products to make profits by using them to produce other products.
Reseller Markets
Intermediaries who by finished goods and resell them for a profit.
Government Markets
Governments that buy goods and services to support their internal operations.
Institutional Markets
Organisations with charitable, educational, community or other non-business goals.
Business Markets
The buying center is all individuals and units that play a role in the business purchase decision-making process.
Influence on Business Buyers
Environmental; Organisational; Interpersonal; Individual.
Stages of the Business Buying Process
Problem Recognition; Need Description; Product Specification; Supplier Search; Proposal Solicitation; Supplier Selection; Order-routine specification; Performance Review
E-procurement
Purchasing through electronic connections between buyers and sellers - usually online.
