Week 4 - Consumer and Business Buyer Behaviour Flashcards
What influences consumers?
Cultural influences
Social influences
Personal influences
Psychological influences
Explain cultural influences on consumer behaviour
You might be influenced by:
Culture: a person’s values, wants and behaviours.
- E.g. grew up not wearing flashy clothes
Subcultural groups: share value systems based on common life
experiences and interests.
- E.g. minimalists
Cultural shifts: new trends
- E.g. moving away from soft drinks to more healthy vitamin water
Social class
- E.g. the middle class shares similar interests to each other
Explain social influences on consumer behaviour
You might be influenced by:
Celebrities and influencers
Social media posts
Social clubs and societies
Family: young adults usually buy the same brands as their parents did.
Role: a tutor, a student etc.
Explain personal influences on consumer behaviour
Age and lifecycle: different needs and preferences
Occupation: work-related needs
Economic situation:
- cash constrained consumers more likely to focus on lower prices
Lifestyle: pattern of living expressed in:
- Activities: work, hobbies, shopping, sports, social events
- Interests: food, fashion, family, recreation
- Opinions: about themselves, social issues, businesses, products
Personality: unique psychological characteristics that distinguish
a person or group
Brand personality: specific mix of human traits that may be attributed to a particular brand
Explain cultural psychological on consumer behaviour
Maslow Hierarchy of Needs
Self development needs
Self esteem and status needs
Social love and belonging needs
Safety and security needs
Hunger and thirst
How does involvement impact buying behaviour?
Symbolic Meanings
- Few Self-Meanings (Soda)
- Many Self-Meanings (Clothes)
Social Visibility of Product
- Not Socially Visible (Toothpaste)
- Socially Visible (Watch)
Time Commitment to Purchase
- Short (Candy)
- Long (Personal Computer)
Price
- Low (Razor)
- High (Car)
Potential Harm
- Small (Light bulb)
- High (Power Tools)
Performance Risk
- Small (Cough Remedy)
- High (Insulin Pump)
What is the buyer decision process?
1) Recognise need
2) Information search
3) Evaluation of alternatives
- Based on influences on buyer behaviour.
4) Purchase decision
5) Post purchase behaviour
- Depends on experience
Common heuristics
- Always buy the cheapest
- Always buy the highest quality
- Always buy on sale
- Always buy the higher status
- Whatever I bought last time
- What my parent/partner/friend/social group) buys
New product adoption process from first learning about
a product to purchasing it
o Awareness
o Interest
o Evaluation
o Trial
o Adoption
Successful brands help consumers move through the
process fast
Business buying process
Problem recognition
General need description
Product specification
Supplier search
Proposal solicitation
Supplier selection
Order routine specification
Performance review
