Chapter 5

Question 1

What does the consumer market consist of?

Answer 1

All individuals and households that buy/acquire goods and services for personal consumption

Question 2

When does the consumer behaviour process start, and where does it end?

Answer 2

Starts long before the purchase and continues long after the customer consumes the service/product

Question 3

What must marketers pay special attention to when looking at consumer behaviour?

Answer 3

Issues before, during and after the purchase

Question 4

What are the 4 key sets of influences on buyer characteristics?

Answer 4

Cultural
Social
Personal
Psychological

Question 5

Why are the influences on buyer characteristics important to analyze for marketers?

Answer 5

They help identify interested buyers and shape products and appeals to serve them better

Question 6

What is culture?

Question 7

What is a subculture?

Question 8

What is a social class group?

Question 9

What are the social factors that may affect product and brand choices?

Answer 9

Small group, social network, and family influences

Question 10

What are some of the personal characteristics that may influence product and brand choices?

Answer 10

Age
Life stage
Occupation
Economic Circumstances
Lifestyle
Personality

Question 11

What are the different sets of psychological factors that may influence buying behavior?

Answer 11

Motivation
Perception
Learning
Beliefs and attitudes

Question 13

What does the cultural factor consist of?

Answer 13

It is the most basic determinant of a person’s wants and behaviour

Question 14

What are the steps of the buyer decision process?

Answer 14

Need recognition
Information search
Evaluation of alternatives
Purchase decision
Postpurchase behaviour

Question 15

What does the need recognition step of the buyer decision process consist of?

Answer 15

The consumer recognizes a problem/need that could be satisfied by a product or a service

Question 16

What does the information search step of the buyer decision process consist of?

Answer 16

Looking for information about the product on the market

Question 17

What does the evaluation of alternatives step of the buyer decision process consist of?

Answer 17

Assess the different choices and brands possible to make the best possible decision

Question 18

What does the purchase decision step of the buyer decision process consist of?

Answer 18

Buying the product

Question 19

What does the postpurchase behaviour step of the buyer decision process consist of?

Answer 19

Taking action based on their satisfaction/dissatisfaction with the product

Question 20

What are the stages the adoption process consists of?

Answer 20

Awareness
Interest
Evaluation
Trial
Adoption

Question 21

What is the diffusion process?

Answer 21

It’s the different rates at which consumers react to new products depending on consumer and product characteristics

Question 22

What are the different kinds of consumers named in the diffusion process? Why are these roles important?

Answer 22

Innovators, early adopters, early mainstream, late mainstream, and lagging adopters.
Each group may require different marketing approaches.
Marketers often try to bring their new products to the attention of potential early adopters, especially opinion leaders

Question 23

What is the business market composed of?

Answer 23

All organizations that buy goods and services for use in the production of other products/services or for the purpose of reselling/renting them to others at profit.

Question 24

Compare the size of business markets to the one of customer markets.

Answer 24

Business markets have less but larger buyers, who are more geographically concentrated.

Question 25

What is the concept of derived demand?

Answer 25

The dependence business demand has on the end customer demand is what we call the derived demand.

Question 26

What are the 3 possible buying situations for business buyers?

Answer 26

Straight rebuys Modified rebuys New tasks

Question 27

What is a straight rebuy?

Question 28

What is a modified rebuy?

Question 29

What is a new task?

Question 30

What is the buying centre? What does it consist of?

Answer 30

It's the decision-making unit of a buying organization and can consist of many different people playing many different roles.

Question 31

What kind of influences should business marketers look out for?

Answer 31

The business marketer also needs to understand the major environmental, organizational, interpersonal, and individual influences on the buying process.

Question 32

What are the questions a business marketer should ask?

Answer 32

Who are the major buying centre participants? In what decisions do they exercise influence and to what degree?

Question 33

What are the steps of the business buyer decision process?

Answer 33

Problem recognition General need description Product specification Supplier search Proposal solicitation Supplier selection Order-routine specification Performance review

Question 34

Do all business buyers go through all the steps of the buying process?

Answer 34

No. New task buyers usually face all stages, but modified or straight rebuys may skip some of the steps.

Question 35

What is e-procurement?

Answer 35

Business buyers purchasing all kinds of products and services online.

Question 36

What are the trends observable within the b2b marketing?

Answer 36

Online = easier to connect with customers, facilitation of anytime anywhere connections with ppl within an organization