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Marketing > Final Consumer and Business Behavior > Flashcards

Final Consumer and Business Behavior Flashcards

1
Q

What are the three types of customers?

A
  1. Consumers who buy for personal use
  2. Business buyers who buy for the use of the company
  3. Government buyers who buy on behalf of public services
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2
Q

Describe consumer behaviour

A

The buy behaviour of the final consumers - individuals and households who buy goods and services for personal consumption

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3
Q

What are the four factors affecting consumers?

A

Marketing Mix, Situational, Socio-Cultural, Psychological

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4
Q

Describe the Situational factor

A

Purchase task, social surroundings, physical surroundings, temporal effects, antecedent states

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5
Q

What is a subculture (included in socio-cultural factor)?

A

A group of people with shared value systems based on common life experiences and situations (Basis for subculture - ethnicity, religion, race, lifestyle, etc.)

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6
Q

How can mistakes be made with cultural differences?

A

Can happen in terms of translation, like not knowing what certain words mean. Eg. Chevy Nova - “Nova” means “Won’t go” in Spain
Eg. Colgate Cue - “cue” means porno in France

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7
Q

How do socio cultural groups affect us?

A

We are often impacted by the views, opinions, or behviours of others (personal, group, families).

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8
Q

List the properties of groups

A
  1. Norms
  2. Status
  3. Roles: behaviour the group expects of individuals who hold specific positions within the group
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9
Q

What is a reference group?

A

A group that you do not belong to that serves as a point of comparison in forming attitudes and making choices

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10
Q

What is an example of a reference group?

A

Dissociative groups (Dorm example)

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11
Q

True or False: Women influence 85% of purchases, including 80% of cars and home renovations

A

True

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12
Q

What percentage of influence do men have over food shopping?

A

40%

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13
Q

Explain Socio Cultural - Personal Influence

A
  1. Opinion leadership: These people are knowledgeable, they have expertise - you loom to them for info, you don’t have to personally know them (ex. Influencers)
  2. Word of Mouth - seen as more trustworthy than ads
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14
Q

List the 5 psychological influences on consumers

A
  1. Motivation
  2. Attention/ Perception
  3. Learning
  4. Attitudes
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15
Q

Explain the influence of motivation

A

A need is sufficiently pressing to direct the person to seek satisfaction of the need (Biological, psychological). This tells us WHY do consumers buy what they do (think Maslow’s Hierarchy)

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16
Q

Explain the influence of Attention

A

Attention focuses on how many ads do you REMEMBER seeing? And overall exposure.

17
Q

How do marketers gain exposure?

A

Ads, point of purchase displays, shelf space, product placements, buzz marketing

18
Q

Why do marketers care about exposure without attention?

A

Exposure leads to familiarity and recognition

19
Q

Explain mere exposure

A

The more often we see something, the more we like it

20
Q

Define Attention

A

Devoting cognitive resources to a stimulus

21
Q

List the three attributes of Attention

A
  1. Selective: decide what to focus on
  2. Dividable: multi task
  3. Limited: we can only do so much at once
22
Q

What are the five ways marketers can get Attention?

A
  1. Novelty/Surprise
  2. Sound/motion
  3. Cognition
  4. Humour
  5. Incomplete stimulus
23
Q

Explain the influence of Perception

A

Perception is constructive: people interpret stimuli on the fly .
Interpretation of stimuli can be affected by hard wired features of the brain, context, individual differences, and expectations

24
Q

What aspects of a product can influence our perception?

A
  1. Labelling/ Language: Cigarettes: light, smooth, filtered. Beef: 95% lean, 5% fat. Vitamin water: “restore”, immune functioning.
  2. Package colour: 7UP: green vs yellow. Pudding: chocolate vs vanilla
25
Q

How is the influence of Learning used in marketing?

A

It focuses on how to satisfy needs in particular ways, what brands represent, what products and services are available, how to use products and services

26
Q

What are the steps in the Learning Process?

A
  1. Drive: A strong stimulus that impels action action to reduce need.
  2. Cues: Any objects existing in the environment that determines the nature of the response to a drive.
  3. Response: An effort to satisfy a drive.
  4. Reinforcement: happens when the response is satisfying
27
Q

Explain the influence of Values, Beliefs, and Attitudes

A

Attitude: a consistent evaluation of a target object.
Belief: a descriptive thought about an action.
Values: deeply held beliefs, resistant to external influence but may change over time

28
Q

What are the 5 steps of the Purchase Decision Process?

A
  1. Need recognition
  2. Information search
  3. Evaluation of alternatives
  4. Purchase decision
  5. Post-purchase evaluation
29
Q

Explain Need Recognition

A

Individual becomes aware of a difference between a desired state and an actual condition. Marketers can use tools within the mix when consumer is unaware of need.

30
Q

What are the triggers of Need Recognition?

A
  1. Inventory runs out
  2. Changing reference groups
  3. Dissatisfaction
  4. Boredom, novelty seeking
  5. Family life cycle
31
Q

Explain the Information search

A

Sources of info: personal, experiential, commercial, public.
Info search leads to Consideration set: the products or brands that consumers evaluate when purchasing.

32
Q

Explain Evaluation of Alternatives

A

How do consumers choose from within the consideration set? Choice and ranking depend on The consumer and The product or type of purchase (logical thinking to impulse)

33
Q

Explain the Purchase Decision

A

Purchase intention turns into decision when: easy to justify and get others’ approval, and no unexpected situational even occurs

34
Q

Explain Postpurchase Behaviour

A

Performance < Expectations = Dissatisfaction
Performance = Expectation = Satisfaction
Performance > Expectations = Delight

35
Q

What does High involvement purchases involve?

A

Cognitive dissonance: Buyer discomfort caused by post-purchase conflict
Did I make the right purchase?

36
Q

What are the differences between Organization Buyers vs. Final Consumers?

A
  1. Market structure and Demand: Fewer but larger buyers, derived demand based - based on purchases by consumers
  2. Nature of buying unit: More people are involved and influenced by the decisions, multiple rational decision makers
  3. The decision process: more complex, formalized, dependent. More involvement, higher risk.
37
Q

What are the implication for Marketing based on Few Buyers/Sellers and Rational Buyers?

A

Few Buyers/Sellers: direct selling is important, Physical distribution is very important.
rational Buyers: Ads and other promotion are technical.
Price is often negotiated

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