Consumer Decision Model/ Product adoption Curve

Question 1

What are the Factors influencing consumer behavior

Answer 1

Culture, Social, Personal, Psychological

Question 2

Factors of influence: Culture

Answer 2

Culture (Qualities determined by home),
Subculture (Qualities determined by personal culture),
Social Class (Qualities determined by Education, family history, income, and location)

Question 3

Factors of Influence: Social

Answer 3

Groups
Family
Roles

Question 4

Groups

Answer 4

Membership: Group I am in
Reference: Group I am comparing to
Aspirational/Influencer: Group I am wishing

Question 5

Factors of Influence: Personal

Answer 5

Age
Economics
Lifestyle
Occupation
Personality

Question 6

Psychological

Answer 6

Motivation
Perception
Learning
Beliefs and Attitudes

Question 7

Consumer Decision Model

Answer 7

refer to Doc

Question 8

Marketing Funnel

Answer 8

Refer to Doc

Question 9

Product Adoption Curve

Answer 9

Innovators 2.5%
Early Adopters 13.5%
Early Mainstream 34%
Late Mainstream 34%
Lagging Adopters 16%
Refer to Doc

Question 10

Intrinsic Motivation

Answer 10

Motivation from within (E.G. Personal desire for mastery or to help the world)

Question 11

Extrinsic Motivation

Answer 11

Motivation from the outside world (e.g. a big bonus check)

Question 12

B2C

Answer 12

Business to Consumer Market consist of individuals and households that buy goods and services for personal consumption.