UNDERSTANDING BUYERS AND MARKETS Flashcards
is the process through which the
ultimate buyer makes purchase
decisions from toothbrushes to
automobiles to vacations.
Consumer Behavior
was a German-
American psychologist, known as one of the modern pioneers
of social, organizational, and applied psychology in the United States.
Kurt Lewin
INTERPERSONAL DETERMINANTS OF CONSUMER BEHAVIOR
- CULTURAL INFLUENCES
- FAMILY INFLUENCES
PERSONAL DETERMINANTS OF CONSUMER BEHAVIOR
- NEEDS AND MOTIVES
- PERCEPTIONS
- ATTITUDES
- LEARNING
- SELF-CONCEPT THEORY
Psychologist Abraham H. Maslow developed a
theory that characterized needs and arranged
them into a hierarchy.
MASLOW’S HIERARCHY OF NEEDS
FOOD, WATER, MEDICINES
PHYSIOLOGICAL
HEALTH AND LIFE INSURANCE
SAFETY
COSMETIC, FOOD, ENTERTAINMENT
BELONGINGNESS
FASHION, JEWELRY, GOURMET FOODS
ESTEEM
EDUCATION, CULTURAL EVENTS, SPORTS
SELF- ACTUALIZATION
*Organizational sales and
purchases of goods and services
to support production of other
products, to facilitate daily
company operations, or for resale.
BUSINESS TO BUSINESS
In the components of B2B market, the
largest segment of the business market
is the
CONSUMER MARKET
Demand for a
resource that results from
demand for the goods and
services produced by that
resource.
DERIVED DEMAND
Demand
for a product that depends
on the demand for another
product used in combination
with it.
JOINT DEMAND
Demand that,
throughout an industry, will
not change significantly
due to a price change.
Inelastic
Demand
Group of people
with sufficient
purchasing power,
authority, and
willingness to buy.
MARKET
Specific group of
people a firm
believes is most
likely to buy its
goods and services.
TARGET MARKET
Division
of the total market
into smaller,
relatively
homogeneous
groups.
MARKET SEGMENTATION
4 TYPES OF SEGMENTATION
- DEMOGRAPHIC
- PSYCHOGRAPHIC
- BEHAVIORAL
- GEOGRAPHIC
-NATION
-STATES
-REGIONS
GEOGRAPHIC
a precise form of audience
identification based on data points
like age, gender, marital status,
family size, income, education,
race, occupation, nationality,
and/or religion.
DEMOGRAPHIC
Division
of a population into groups
having similar attitudes,
values, and lifestyles.
PSYCHOGRAPHIC SEGMENTATION
Buyers are divided into groups
based on their knowledge,
attitude, and use or response to a
product.
BEHAVIORAL SEGMENTATION
