Chapter 5: Consumer Markets and Buyer Behavior Flashcards

(38 cards)

1
Q

Consumer buyer behavior

A

The buying behavior of final consumers - individuals and households that buy goods and services for personal consumption

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2
Q

Consumer market

A

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

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3
Q

The Model of Buyer Behavior

A

The environment -> Buyer’s behavior -> Buyer responses

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4
Q

The environment

A
  • Marketing stimuli: Product, Price, Place, Promotion

- Other: Economic, Technological, Social, Culture

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5
Q

Buyer’s Black Box

A

Buyer’s characteristics, Buyer’s decision process

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6
Q

Buyer responses

A

Buying attitudes and preferences
Purchase behaviour: what the buyer buys, when, where and how much
Brand engagements and relationships

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7
Q

Factors Influencing Consumer Behavior

A
  1. Cultural: many brands target specific subcultures (African American, Asian American)
  2. Social
  3. Personal: reflect and contribute to their lifestyles - their whole pattern of acting and interacting in the world
  4. Psychological
  5. Buyer: our buying decisions are affected by an incredibly complex combination of external and internal influences
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8
Q
  1. Cultural
A

Culture
Subculture
Social class

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9
Q
  1. Social
A

Groups and social networks
Family
Roles and status

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10
Q
  1. Personal
A
Age and life-cycle stage
Occupation
Economic situation
Lifestyle
Personality and self-concept
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11
Q
  1. Psychological
A

Motivation
Perception
Learning
Beliefs and attitudes

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12
Q

Culture

A

The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions

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13
Q

Subculture

A

A group of people with shared value systems based on common life experiences and situations

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14
Q

Cross-cultural marketing

A

Including ethnic themes and cross-cultural perspectives within a brand’s mainstream marketing, appealing to consumer similarities across subcultural segments rather than differences

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15
Q

Social class

A

Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors

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16
Q

Group

A

2 or more ppl who interact to accomplish individual or mutual goals

17
Q

Word-of-mouth influence

A

The impact of the personal words and recommendations of trusted friends, family, associates, and other consumers on buying behavior.

18
Q

Opinion leader

A

A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others.

19
Q

Online social networks

A

Online social communities - blogs, social networking Web sites, and other online communities - where people socialize or exchange information and opinions

20
Q

Lifestyle

A

A person’s pattern of living as expressed in his or her activities, interests, and opinions

21
Q

Personality

A

The unique psychological characteristics that distinguish a person or group

22
Q

Motive (drive)

A

A need that is sufficiently pressing to direct the person to seek satisfaction of the need

23
Q

Types of Buying Decision Behavior

A
  1. Complex Buying Behavior
  2. Dissonance-Reducing Buying Behavior
  3. Habitual Buying Behavior
  4. Variety-Seeking Buying Behavior
24
Q

Complex Buying Behavior

A

Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands

25
Dissonance-reducing buying behavior
Consumer buying behavior in situations characterized by high involvement but few perceived differences among brands
26
postpurchase dissonance
after-sale discomfort | - notice certain disadvantages of the purchased product
27
Habitual buying behavior
Consumer buying behavior in situations characterized by low consumer involvement and few significant perceived brand differences
28
Variety-seeking buying behavior
Consumer buying behavior in situations characterised by low consumer involvement but significant perceived brand differences
29
Buyer Decision Process
Need Recognition -> Information search -> Evaluation of alternatives -> Purchase decision -> Postpurchase behavior
30
Need recognition
the first stage of the buyer decision process, in which the consumer recognizes a problem or need
31
Information search
The stage of the buyer decision process in which the consumer is motivated to search for more information
32
Alternative evaluation
The stage of the buyer decision process in which the consumer uses information to evaluate alternative brands in the choice set
33
Purchase decision
The buyer's decision about which brand to purchase
34
Postpurchase behavior
The stage of the buyer decision process in which consumers take further action after purchase, based on their satisfaction or dissatisfaction
35
Cognitive dissonance
Buyer discomfort caused by postpurchase conflict
36
New product
a good, service, or idea that is perceived by some potential customers as new
37
Adoption process
The mental process through which an individual passes from first hearing about an innovation to final adoption
38
Stages in the Adoption Process
``` Awareness Interest Evaluation Trial Adoption ```