Week 4 consumer and business buying behaviour Flashcards
define consumer behaviour
refers to the buying behaviour of final consumers – individuals and households – that buy goods and services for personal consumption
Define the consumer market
All the individuals and households that buy or acquire goods and services for personal consumption
characteristics affecting consumer behaviour
cultural:
culture
culture group
social class
Social:
reference groups
family
roles and status
Personal: ages occupation economic situation personality
Psychological: Motivation perception beliefs attitudes
define brand personality
mix of hunan traits that may be attributed to a particular brand
mallows hierarchy of needs
self actualisation esteem needs social needs safety needs psychological needs
difference between belief and attitude
belief = descriptive thought a person holds about something
Attitude = persons consistently favourable or unfavourable evaluations, feelings and tendencies towards a particular area
explain the buyer decision process
Need recognition:
The buyer recognises a need, triggered by internal or external stimuli.
information search:
The buyer seeks out information about products or services with potential to satisfy the need.
evaluation of alternatives:
The consumer processes information in order to arrive at brand choices.
purchase decision:
The consumer forms a purchase intention and ultimately makes the actual purchase.
post purchase behaviour:
Following purchase, the consumer will engage in a variety of post-purchase behaviours – including satisfaction, formation of future purchase intentions and loyalty intentions.
explain the buyer decision stage of ‘purchase decision’
generally consumers purchase decisions will be to buy the most preferred brand, but 2 factors can come between the purchase intention and purchase decision
- ) attitudes of others (e.g. others think lower priced option is better)
- ) unexpected situational factors e.g. change in economy
define cognitive dissonance
buyer discomfort caused by post purchase conflict
5 different roles can be identified in the buying process
initiator influencer decider buyer user
define new product
A good, service or idea that is perceived by potential customers as new
define the adoption process
Mental process through which an individual passes from first hearing about an innovation to final adoption
explain the stages in the adoption process
Awareness - consumer becomes aware of the new product
Interest - consumer seeks info about the new product
Evaluation - consumer considers whether trying the new product makes sense
Trial - the consumer tries the product on a small scale to improve their understanding of it’s value
Adoption - consumer decides to make full and regular use
5 typical adoption groups
innovators = 2.5% early adopters = 13.5% Early majority = 34% late majority = 34% laggers = 16%
Factors that influence rate of adoption
relative advantage - appears superior to other product
comparability - fits values and experience of consumers, highly comparable with lifestyles
complexity
divisibility (price falls over time)
communicability
