Consumer Markets and Buyer Behavior

Question 1

Factors Influencing Consumer Behavior

Answer 1

Cultural Factors Culture
Subculture, and social class influence buying decisons

Question 2

Social Factors

Answer 2

Family, reference groups and roles impact purchasing choices

Question 3

Personal Factors

Answer 3

Age, lifestyle, occupation, and economic situation affect buying behavior

Question 4

Psychological Factors

Answer 4

Motivation, perception, learning , beliefs and attitudes
shape decisions

Question 5

Buyer Decision Process

Answer 5

1. Need Recognition
2. Information Search
3. Evaluation of Alternatives
4. Purchase Decision
5. Post-Purchase

Question 6

1. Need Recognition

Answer 6

Consumer realizes a problem or need(eg,, hunger, new phone)

Question 7

2. Information Search

Answer 7

Looks for solutions through ads, reviews, and recommendations

Question 8

3. Evaluation of Alternatives

Answer 8

Compares different products brands

Question 9

4. Purchase Decision

Answer 9

Chooses a product based on factors like price, quality or brand loyalty

Question 10

5. Post-purchase behavior

Answer 10

Customer satisfaction or dissatisfaction determines future purchases and brand loyaltyy

Question 11

Types of Buying behavior

Answer 11

1.Complex Buying behavior
2. Dissonance-reducing buying behavior
3. Habitual buying behavior
4. Variety -Seeking buying behavior

Question 12

Complex buying behavior

Answer 12

High involvement, expensive, infrequent purchases (eg,. car , house)

Question 13

Dissonance-reducing buying behavior

Answer 13

Expensive but little brand differentiation(eg,. furniture)