WEEK 8-9 Flashcards
FAMILY
ROLES AND STATUS
REFERENCE GROUPS
SOCIAL FACTORS
SIZE OF FAMILY
DISPOSABLE INCOME
PROPENSITY TO CONSUMER
CONSUMER CREDIT
ECONOMIC FACTORS
SUB CULTURE
SOCIAL CLASS (WEALTH & INCOME)
CULTURAL FACTORS
BASIC NEEDS
PHYSIOLOGICAL FACTORS
MOTIVATION
PERCEPTION
LEARNING
BELIEFS
ATTITUDE
PSYCHOLOGICAL FACTORS
AGE
OCCUPATION
LIFE STYLE
PERSONALITY
PERSONAL FACTORS
An aroused need, drive, or desire that initiates the sequence of events that may lead to a purchase.
MOTIVES (BUYING MOTIVE)
prompt the prospect to act as a result of an appeal to some sentiment or passion or impulse.
Emotional Buying Motives
prompt the prospect to act because of an appeal to the prospect’s reason or better judgment. lowest priced item, longest lasting item. dependable item.
Rational Buying Motives
cause the prospect to buy a product from one particular company rather than another.
Patronage Buying Motives
the motive that has the greatest influence on your decision
Dominant Buying Motive
identifies the need to buy a particular product or service
INITIATOR
Their views influence the buying centre’s buyers and deciders
INFLUENCER
approves all or any part of the entire buying decisions (whether, what, how and where to buy)
DECIDER
selects the suppliers and arranges term of condition
BUYER
consumes or uses the product or service
USER
controls the information and access to decision makers and influencers
Gatekeepers
If marketers don’t understand the target market’s needs, the right good or service may not be produced.
Understanding Needs and Wants
Result of an imbalance between actual and desired states. the first stage in the decision-making process
NEED RECOGNITION
Any unit of input affecting one or more of the five senses:
Sight
Touch
Smell
Hearing
Taste
Stimulus
Seeking value. The goal is to reduce uncertainty and minimize regret
in the long-run.
Information Search
• Recall information in memory
Internal Information Search
•Seek information in outside environment
•Nonmarketing-controlled
•Marketing-controlled
External Information search
Group of brands, resulting from an information search, from which a buyer can choose.
Evaluation of Alternatives and Purchase
3 Types of Purchases
Trial Purchases
Repeat Purchases
Long-Term Commitment Purchases
Inner tension that a consumer experiences after recognizing an
inconsistency between behavior and values or opinions.
Cognitive Dissonance
The amount of time and effort a
buyer invests in the search,
evaluation, and decision processes of consumer behavior.
Involvement
Little involvement in selection process
Frequently purchased low cost goods
May stick with one brand
Buy first/evaluate later
Quick decision
Routine Response Behavior
Low levels of involvement
Low to moderate cost goods
Evaluation of a few alternative brands
Short to moderate time to decide
Limited Decision Making
High levels of involvement
High cost goods
Evaluation of many brands
Long time to decide
May experience cognitive dissonance
Extensive Decision Making
E x t e n s i v e a n d Informative promotion to target market
High-involvement purchases
In-store promotion, eye-catching package design, and good displays. Coupons, and two-for-one offers
Low-involvement purchases
MODELS OF CONSUMER: 4 VIEWS OF CONSUMER DECISION MAKING
an economic view
a passive view
a cognitive view
an emotional view
Synthesized by ?? based on the theory of Marginal Utility and Micro-
economic Theory.
Alfred Marshall
The focus is on the “Act of Purchase” of an “Average Consumer”. Explains “What” a consumer would purchase and “In what quantity”.
Economic View Model
It depicts the consumer as basically submissive to the self-serving interest and promotional efforts of
marketers.
•Consumers are perceived as impulsive and irrational purchasers.
Passive View Model
This view depicts the consumer as a thinking problem solver.
• Consumers as information processors
• Consumer behavior is goal oriented
• Consumers may not make perfect decisions but they make satisfactory decisions.
Cognitive View Model
Also known as the Impulsive View or Impulsive Model.
•These feelings or emotions are likely to be highly involving
•When a consumer makes what is basically an emotional purchase decision, less emphasis is placed on the search for prepurchase information.
Emotional View Model
6 Buying Roles
Initiator
Influencer
Decider
Buyer
User
Gatekeeper
Consumer Decision Making Process. A 5 Step process used by consumers when buying goods or services.
- Need Recognition
- Search for Information
- Evaluation of Alternatives
- Purchase Decision
- Post-Purchase Evaluation
