MOD 4 Consumer Behavior Flashcards
the study of consumers and the process they use to choose, use (consume), and dispose of products and services, including consumers’ emotional, mental and behavioral responses
Consumer Behavior
Consumer behavior incorporates ideas from several sciences including
Psychology, biology, chemistry, and economics
Factors that influence consumer:
- Personal factors
- Psychological factors
- Social factors
an individual’s interests and opinions can be influenced by demographic (age, gender, culture, etc.)
Personal factors
an individual’s response to a marketing message will depend on their perceptions and attitudes.
Psychological factors
family, friends, education level, social media, income, all influence consumers’ behavior
Social factors
Types of consumer behavior
- Complex buying behavior
- Dissonance-reducing buying behavior
- Habitual buying behavior
- Variety seeking behavior
this type of behavior is encountered when consumers are buying an expensive, infrequently bought product.
Complex buying behavior
the consumer is highly involved in the purchase process but has difficulties determining the differences between brands.
Dissonance-reducing buying behavior
are characterized by the fact that the consumer has very little involvement in the product or brand category.
Habitual buying behavior
in this situation, a consumer purchases a different product not because they weren’t satisfied with the previous one, but because they seek variety.
Variety seeking behavior
Social classes
Class A or Upper class
Class B or Upper Middle class
Class C or Lower middle class
Class D or Working class
Class E or Poor
influence purchasing decisions a lot. If done right and regularly, with the right marketing message, they can even persuade consumers to change brands or opt for more expensive alternatives
Marketing Campaigns
For expensive products especially (like houses or cars), economic conditions play a big part. A positive economic environment is known to make consumers more confident and willing to indulge in purchasing irrespective of their financial liabilities.
Economic conditions
consumer behavior can also be influenced by personal factors: likes, dislikes, priorities, morals, and values.
Personal Preferences
