Module D Flashcards
Cultural characteristics affecting consumer buying behaviour
Culture:
- Represents the values and ideologies that a community embraces
Sub Culture:
- A group of people with common characteristics that differentiate from the culture surrounding them
- eg, different sports and music genres
Social Class:
- Social position an individual owns in a society
- based on education, occupation and net worth
- members of the same social class have similar status, income and buying characteristics
Social characteristics affecting consumer buying behaviour
Reference Groups
- Groups that a person relates themselves to
- Eg, family, friends (primary) / church (secondary) i.e interacted with less than primary groups
Social Networks
- Eg, opinion leaders could have more influence than family and friends
Family
- Heavily influence an individual’s buying behaviour
Social Role and Status
- Individuals can influence a society based on their level of status
- Eg, a mayor’s family is taught to show decency and utmost respect, influencing society itself
Personal characteristics affecting consumer buying behaviour
Occupation
- The nature of an individuals job directly influences the products and brands they pick for themselves
Age and human lifecycle
- As a person ages, their taste for products alter to satisfy their current state of living.
Economic Condition
- An individual’s buying tendency is directly proportional to their income.
Lifestyle
- The way an individual lives in a society
-Eg, style, attitude, social relations
Personality and self concept
- Every personality represents certain buying behaviour
- Eg. Music lovers buy CDs and concert tickets, gamers buy video games
Psychological characteristics affecting consumer buying behaviour
Motivation
- A need which arouses consumers desires to satisfy it
Perception
- The process by which people select, organise and interpret information to form a meaningful picture
+ Selective Attention - When individuals pay attention only to the information that benefits them
+ Selective Distortion - Interpreting information in line with your experiences. Eg, dog lovers love movies about dogs more than cat lovers
+ Selective Retention - Consumers only remember the information that they find useful
Learning
- The change in one’s behaviour arising from experiencing the product
- Occurs through drives, stimuli, cues, responses and reinforcements
Beliefs and Attitudes
- A belief is an acceptance of something based on faith
- An attitude is a way of thinking about something
Consumer Buying Process
Step 1
Need Recognition
- When a buyer recognises a problem triggered by:
+ Internal stimuli, eg, thirst/hunger
+ External stimuli, eg, Advertisements
Consumer Buying Process
Step 2
Information Search
- When the consumer is interested enough to conduct research
- information can be searched from:
+ Personal (primary) sources, eg, family/friends
+ Commercial sources, eg, advertisements
+ Public sources, eg, media
+ Experimental sources, eg, product samples
Consumer Buying Process
Step 3
Evaluation of Alternatives
- When the consumer processes information to choose the brands
Consumer Buying Process
Step 4
Purchase Decision
- The act by the consumer to buy the most preferred product and brand
Consumer Buying Process
Step 5
Post-Purchase Decision
- What the consumer feels about the purchase
- Cognitive dissonance happens after making a purchase. Can be reduced by:
+ Offers
+ Good customer service
+ Asking for feedback
Consumer buying process for new products (Adoption Process)
Awareness stage
- Consumer becomes aware of the product
Interest stage
- Consumer conducts research to obtain information
Evaluation stage
- Consumer decides if he should test the product
Trial stage
- Consumer carries out small tests to estimate the product’s value
Adoption stage
- Consumer decides whether to buy the product or not
Adopter groups for buying a new product
Innovators
- The first to risk trying new products
Early adopters
- Opinion leaders that adopt products early
Early majority
- Adopt products before the average person
Late majority
- Adopt the products after the average person
Laggards
- Traditionalists that try a product when it’s no longer new
