session 4: understanding consumer and business buyer behavior Flashcards
what is a consumer market?
All the individuals and households that buy or acquire goods and services for personal consumption
what is consumer buyer behavior?
The buying behaviour of final consumers
these final consumers are those of the consumer market
those that buy or acquire goods and services for personal consumption
can marketers control the factors that affect consumer behavior?
nah boy
but these factors must be taken into account
what are the factors that influence consumer behavior
cultural factors
social factors
personal factors
psychological factors
what are the aspects of cultural factors
culture
subculture
social class
what is culture
Basic trigger of wants & behaviour
reflects basic values, perceptions, wants, and behaviours
It is learned from family, church, school, peers, colleagues
Deeply entrenched
what happens when cultural shifts occur
they create opportunities for new products
what is subculture ?
A group pf people with shared value systems based on common life experiences
Regional, nationalities, religion, race
what is cross cultural marketing
includes ethnic themes in a brand’s mainstream marketing
E.g. Latin music in McDonald’s ads
what is social class
Divisions in a society whose members share similar values, interests and behaviours
Combination of occupation, income, education, wealth, and other variables
what are the aspects of social factors
reference groups
family
roles and status
what is it in the aspect reference groups that influence our buyer behavior
Membership groups
Word-of-mouth
Reference/aspirational groups
Opinion leaders
what is it in the aspect of family that influence our buyer behavior
household “power brokers” that can influence buyer behavior
Gender stereotypes for certain types of purchases are changing
children that have strong influence on purchasing decisions in the family
what are membership groups
those you belong to
have direct influence in your buying decisions
what is word of mouth
personal words of trusted friends can strongly influence our buying decisions
what are aspirational groups
those you want to belong to and that can influence buyer behaviour
e.g. a professional sports team
what are opinion leaders
people recruited as brand ambassadors for a certain reference group
what is it in the aspect of roles and status that influence our buyer behavior
roles
status
what are roles
activities people are expected to perform
what is status
Esteem given to role by society
can one have multiple roles in the social factor?
yeee
ex: mum and executive
what are the aspects of perusal factors that influence our buyer behavior
age and life cycle stage
occupation
economic situation
lifestyle
personality and self concept
what is personality and self concept
unique psychological characteristics that distinguish a person or group
Self-concept theory suggests possessions contribute to and reflect personal identities (we are what we consume)
can brands be also seen as having personalities
yeeee
what are the aspects of psychological factors
moptivation
perception
learning
beliefs and attitudes
what is a motive
a need requiring satisfaction
what is perception
process by which people select, organize, and interpret information
what is selective attention
people screen out most information they are exposed to
what is selective distortion
people interpret info in a way that will support what they already believe
what is selective retention
people retain info that supports their attitudes and believes
what is learning
behavioural change based on experience
what is a belief
A descriptive thought that a person holds about something