Understanding consumer buyer behaviour Flashcards
What is the consumer market?
Final consumers (comprising individuals & households) that buy goods and services for personal consumption.
Describe major factors that influence online & offline consumer buyer behaviour.
Environment
- Marketing stimuli (7Ps)
Other (Economic, Technological, Social, Cultural)
Buyer’s black box
- Buyer’s characteristics
Buyer’s decision process - what is happening in consumer’s minds
Buyer responses
- Buying attitudes and preferences.
Purchase behaviour - what the buyer buys, when, where and how much
Brand engagements & relationships
Cultural
Culture
Subculture
Social Class
What is culture?
Set of basic values, perceptions, wants & behaviours learned by a member of society from a family and other important institutions.
What is Subculture?
Groups of people with a shared value system based on common life experiences and situations.
What is Social class?
Measured as a combination of occupation, income, education & wealth.
What are social factors?
INFLUENCE from ppl whom a consumer interacts, identifies with or draws inspiration.
Membership group
Reference group
Family
Roles & Status
Membership group
Direct influence and to which a person belongs
Reference group
Serves as an aspirational group in which an individual does not belong to, but aspires to identify with. ( E.g. KPOP idols)
Family
Roles within the household influence consumer behaviour
Roles & Status
Consists of activities which people are expected to perform according to the people around them.
Psychological factors
Motivation
Perception
Learning
Beliefs & attitudes
Personal factors and explain them.
Occupation: Occupational groups or job roles
(To fit professional image)
Age & life stage: Demographics & life-changing events
Economic situation : income, savings
Lifestyles: Person’s pattern of living, measured in terms of activities, interest, opinions
Personality & self-concept : Unique psychological characteristics that distinguish a person or a group
Motivation
: Need that is sufficiently pressing to direct a person to seek satisfaction.
Perception
Process by which people select, organize and interpret information to form a meaningful picture of the world.
Selective attention
Selective retention
Selective distortion
What is selective attention?
Tendency of people to screen out most information to which they are exposed.
Ability to focus on the more important information when there are other distractions.
What is selective distortion?
Tendency of people to interpret information in a way that will support what they already believe (but has yet to remember)
What is selective retention ?
Tendency of people to remember good points made about the brand they favour and forget about good points made about competing brands.
Challenging for competitors to get customers whose needs have been met to remember their good points.
Learning. List down steps to explain.
Changes in an individual’s behaviour arising from experience through the interplay of drive, cues, responses and reinforcement.
- Drive. Strong internal stimulus that calls for action.
- Cue. Minor stimuli that determine when, where, and how the person responds.
- Response. Cues influence responses.
- Reinforcement. If experience is rewarding, the response would be reinforced.
Beliefs & attitude
beliefs refers to descriptive thought that a person holds about something
attitude describes a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea. Affects buying behaviour of consumers.
Identify and discuss stages in the online and offline buyer decision process.
- Need/Problem recognition
- Information search
- Friends/Family/Google - Evaluations of alternatives
- Shops/Brand websites/Review blogs - Purchase decision
- Buying from physical shops/ online e-commerce platforms - Post-purchase behaviour
- Extent of satisfaction with purchase.
DOES NOT MEAN EVERYONE HAS TO GO THROUGH ALL STAGES.
