Quiz Chapter 5 April 25, 2024 Flashcards
CHAPTER 5 : CONSUMER MARKET AND CONSUMER
BUYER BEHAVIOR
-refers to all of the “personal consumption of final consumers.”
Consumer Market
-is the “buying behavior of final consumers”, individuals and
households, “who buy goods and services for personal consumption.”
Consumer buyer behavior
3 Model of Consumer Behavior
• The Environment
• Buyer’s Black Box
• Buyer Responses
Marketing stimuli- Product, Price, Place, Promotion
Other - Economic, Technological, Social, Cultural
• The Environment
- Buyer’s characteristics
- Buyer’s decisions process
• Buyer’s Black Box
- Buying attitudes and preferences
- Purchase behavior: what the buyer buys, when, where, and how much
- Brand and company relationship behavior
• Buyer Responses
5 Characteristics Affecting Consumer Behavior
• Cultural
• Social
• Personal
• Psychological
• Buyer
- culture, subculture, social class
• Cultural
- reference group, family, roles and status
• Social
- age and lifecycle stage, occupation, economic situation, lifestyle, personality and self-concept.
• Personal
- motivation, perception, learning, beliefs and attitudes.
• Psychological
• Buyer
CULTURAL FACTORS
• Culture
• Subculture
• Social Class
- is the “learned values, perceptions, wants, and behaviors from family” and other important
institutions.
Culture
- are “groups of people within a culture with shared values systems” based on common life experience and situations.
Subculture
- are “society relatively permanent and ordered divisions” whose members share similar values, interest, and behaviors. “Measured by a combination of occupations, income, education,” wealth, and other variables.
Social Classes
SOCIAL FACTORS
• Groups and Social Network
• Family
• Social Roles and Status
6 Groups and Social Network
• Membership Groups
• Aspirational Groups
• Reference Groups
• Opinion Leaders
• Online Social Networks
- groups with “direct influence and to which a person belongs”.
Membership Groups
- groups an “individual wishes to belong to”.
Aspirational Groups
- groups that “form a comparison or reference in forming attitudes and behavior.”
Reference Groups
- are people “within a reference group who exert social influence on others.”
Opinion leaders
- are “online communities where people socialize” or exchange information and
opinions.
Online Social Networks
- is the “most important consumer-buying organization in society.”
Family
- are the “groups, family, clubs, and organizations that a person belongs” to that can define
role and social status.
Social Roles and Status
5 PERSONAL FACTORS
• Age and Life-Cycle Stage
• Occupation
• Economic
• Lifestyle
• Personality and Self-concept
- RBC Royal Band stages
- Youth: younger than 18
- Getting started: 18-35
- Builders: 35-50
- Accumulators: 50-60
- Preservers: over 60
Age and Life-Cycle Stage
- “affects the goods and services bought by consumers.”
Occupations
- “situation includes trends in personal income”, savings and interest rates.
Economic
- is a “person’s pattern of living” as expressed in his or her psychographics.
Lifestyle
- refers to the “unique psychological characteristics that lead to consistent and
lasting response” to the consumers environment. It is interesting to talk about brand personalities. A “brand
personality is the specific mix of human traits” that may be attributed to a particular brand.
Personality and self-concept
is the “specific mix of human traits” that may be attributed to a particular brand.
brand
personality
One researcher identified five brand personality traits:
- Sincerity
- Excitement
- Competence
- Sophistication
- Ruggedness
6 PSYCHOLOGICAL FACTORS
• Motivation
• Motivation Research
• Perception
• Learning
• Beliefs
• Attitudes
- is a “need that is sufficiently pressing to “direct the person to seek satisfaction.”
• Motivation
- refers to the “qualitative research designed to probe consumer’s hidden,
subconscious motivations.”
• Motivation research
- is the “process by which people select, organize, and interpret information” to form a meaningful
picture of the world from three perpetual process.
• Perception
3 perpetual process
- Selective attention
- Selective distortion
- Selective retention
- is the tendency for people to “screen out most of the information to which they are
exposed.”
- Selective attention
- is the tendency for people to “interpret information in a way that will support what they
already believe.”
- Selective distortion
is the tendency to “remember good points made about a brand they favor” and forget
good points about competing brands.
- Selective retention
- is the change in an “individual’s behavior arising from experience and occurs through interplay of
drives”, stimuli, cues, responses an reinforcement.
Learning
- is a “descriptive thought that a person has” about something based on: “Knowledge, Opinion, Faith.”
Beliefs
- describes a “person’s relatively consistent evaluations, feelings,” and tendencies toward an object
or idea.
Attitudes
4 TYPES OF BUYING DECISION BEHAVIOR
• Complex buying
behavior
• Variety-seeking
Buying behavior
• Dissonance-reducing
Buying behavior
• Habitual buying
behavior
• Complex buying behavior
• Dissonance - reducing buying behavior
High Involvement
• Variety - seeking buying behavior
• Habitual buying behavior
Low Involvement
• Complex buying
behavior
• Variety-seeking
Buying behavior
Significance differences between brands
• Dissonance-reducing
Buying behavior
• Habitual buying
behavior
Few differences between brands
THE 5 BUYER DECISION PROCESS
- Need Recognition
- Information Search
- Evaluation of Alternatives
- Purchase Decision
- Post-Purchase Decision
- occurs when the “buyer recognizes a problem or
need triggered” by;
Internal Stimuli and External Stimuli.
- Need Recognition
- when one of the “person’s normal needs”, - for
example, “hunger or thirst- rises to a level high enough to become a
drive.”
• Internal stimuli
-for example- an “advertisement or a discussion” with a
friend might get you thinking about buying a new car.
• External stimuli
4 Sources of Information:
- INFORMATION SEARCH
4 Sources of Information
- Personal sources
- Commercial sources
- Public sources
- Experimental sources
-family and friends
Personal sources
- advertising, Internet
Commercial sources
-mass media, consumer organizations
Public sources
- handling, examining, using the product
Experimental sources
-refers to “how the consumer processes information
to arrive at brand choices.”
- EVALUATION OF ALTERNATIVES
-is the act by the “consumer to buy the most preferred brand.”
The “purchase decision can be affected by attitudes of others” and unexpected
situational factors.
- PURCHASE DECISION
-the “satisfaction or dissatisfaction that the consumer
feels about the purchase”. It may also refers to the “relationship between consumer’s
expectation product’s perceived performances”.
- POST-PURCHASE DECISION
- it improved customers satisfaction.
- finding products out of boredom or hobby. Many selection of products.
Variety Seeking Buying Behavior
- buying products out of hobby.
- purchase products repeatedly without high involvement
Habitual Buying Behavior
- occur when the consumer is worried or indecisive.
Dissonance - reducing buying behavior
occurs when involvement is low and differences between brands are small. Consumers in this case usually do not form a strong attitude toward a brand but select it because it is familiar. (ito Naman out of habit, just because they tend to purchase the product repetitively)
Habitual buying behaviour
occurs when you make a significant or expensive purchase, like buying a new car. Because you likely don’t buy a new car frequently, you’re highly involved in the buying decision, and you probably research different vehicles or talk with friends or family before reaching your decision.
Complex buying behavior
The “_________” occurs when a consumer is worried they will make the wrong choice and will regret their decision later. _______________ can also happen with other types of purchases, such as lawnmowers and engagement rings. (for indecisive people).
Dissonance-Reducing Buying Behavior
it is the differences ng product between each other and the person doing that is because he/she is bored.
” improves consumer satisfaction”. Since there are lots of variety of products, they get their own satisfaction from the differences they get or kung sino or ano sa palagay nila yung “better” product from other varieties.
variety seeking
