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201POM > Lesson 6: Consumer Buying Behavior > Flashcards

Lesson 6: Consumer Buying Behavior Flashcards

1
Q

refers to the actions taken (both on and offline) by consumersbeforebuying aproductorservice.

A

consumer buying behavior

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2
Q

consumer buying behavior can be

A

online or offline

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3
Q

It is how consumers make decisions on buying the product or services..

A

consumer buying behavior

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4
Q

consumer buying behavior includes

A

consulting search engines, engaging with socmed posts, variety of other actions

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5
Q

why is consumer buying behavior valuable to businesses

A

they can better tailor marketing initiatives to the marketing efforts that have successfully influenced consumers to buy in the past

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6
Q

consumer buying process

A

need/problem recognition → information search → evaluation of alternatives → purchase decision → post-purchase outcome/decisions

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7
Q

the marketer must focus on making the consumer be aware of existing but unknown goods or services that offer a solution to the need/problem

A

need/problem recognition

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8
Q

consumer seeks out information on how to satisfy the need/problem

A

information search

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9
Q

what does information search focus on

A

features, specifications, price, warranties, other factors

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10
Q

consumer compares the features, prices, and attributes of the product or service

A

evaluation of alternatives

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11
Q

consumer shall proceed to make the purchase

A

purchase decision

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12
Q

consumer shall make a judgement of the product/service’s ability to satisfy customer’s recognized need/probem

A

post-purchase behavior

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13
Q

The behavior of consumers mainly depends on

A

several social-economic factors and personal attributes

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14
Q

all consumers are

A

unique and have different needs

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15
Q

factors that influence consumer behavior

A

psychological, social, cultural, personal, economic

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16
Q

what is included in economic factors

A

personal income (discretionary/disposable income); family income; expectations regarding future income; liquid assets/consumer credit; level of standard of living

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17
Q

what are included in personal factors

A

age, occupation, life cycle stage, lifestyle, personality & self concept

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18
Q

what are included in psychological factors

A

motivation, involvement, perception, learning, lifestyle, attitude

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19
Q

what are included in cultural/social factors

A

culture, subculture, social class, social groups, opinion leaders, role & status

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20
Q

what are internal influences

A

psychological factors

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21
Q

a person’s state of mind when they are approached with a product will often determine how they feel not only about the item itself but the brand as a whole

A

psychological factors

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22
Q

people of different _______ have different needs

A

age

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23
Q

professionals, businessman, and salaried-workers have different demands

A

occupation

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24
Q

life cycle stages include

A

newly born, teenager, bachelor, married, parent, grandparent

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25
Q

lifestyle includes

A

achievers, strugglers, strivers, makers

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26
Q

aggressive, shy, introvert, extrovert, conservative, experimental

A

personality

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27
Q

one’s perceptions towards themselves

A

self-concept

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28
Q

an individual’s innate drive to take the initiative to satisfy a particular need

A

motivation

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29
Q

process by which a consumer identifies, organizes, and interprets information to create meaning

A

perception

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30
Q

a relative lasting change that is a result of the experience

A

learning

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31
Q

a confidence in the truth of existence of something

A

belief

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32
Q

a general evaluation of the product or service formed over time

A

attitude

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33
Q

total income on the consumer

A

personal income

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34
Q

income available to a consumer after deducting taxes and basic cost of living

A

discretionary income

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35
Q

income available with consumer to spend according to his wishes

A

disposable income

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36
Q

income of the family

A

family income

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37
Q

lower income families have

A

less demand than prosperous families

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38
Q

consumer credit involves

A

availability of consumer credit and credit policies

39
Q

a consumer demands more and spends more with increase in his

A

income or expectations of future profits

40
Q

the nature of consumption and buying pattern of a consumer is also affected by the

A

income of the family and level of standard of living

41
Q

a society is composed of several norms and rules to have systematic behavior. all the issues faced by society need to be addressed concerning the existing conditions, and these factors have considerable change and impact on consumer behavior

A

social factors

42
Q

social factors includes

A

family, society, role & status ; reference groups, family roles, status

43
Q

encompasses the set of beliefs, moral values, traditions, languages, and laws (or rules of behavior) held in common by a nation, a community, or other defined group of people.

A

culture

44
Q

when a person comes from a selective community, his/her behavior is

A

highly influenced by the culture relating to that specific community

45
Q

culture involves

A

culture, subcultures, social classes

46
Q

overall culture of the group

A

culture

47
Q

nationality mix (chinese-filipino), ilocanos, bicolanos

A

subcultures

48
Q

status hierarchy classified through economic success

A

social classes

49
Q

social factor that influences the consumer options, beliefs, attitudes, and behavior

A

reference groups

50
Q

mother, father, son, daughter, baby

A

family roles

51
Q

single, married, widowed, separated

A

status

52
Q

it is the most crucial factor influencing consumer behavior because it defines the purchasing powers of consumer

A

economic factors

53
Q

economic factors involves

A

supply & demand, interest rate, inflation, unemployment

54
Q

types of customer buying behavior

A

complex buying behavior, dissonance reducing buying behavior, variety seeking buying behavior, habitual buying behavior

55
Q

Consumers purchasing decisions largely depend upon

A

the nature of the product they want to buy

56
Q

Customers are analyzing carefully their decision on buying a product.

A

complex buying behavior

57
Q

Consumers show complex buying behavior when they are going to buy

A

expensive products which are often unfamiliar to them

58
Q

complex buying behavior prioritizes

A

high-quality products with desirable features

59
Q

how would a business attract consumers with complex buying behavior

A

highlight the desirable features of your products

60
Q

Consumers with complex buying behavior conduct

A

extensive market research to gather info about their choices, evaluate their choices, and consider the consequences

61
Q

It occurs when consumers experience purchase anxiety after their initial purchase.

A

dissonance-reducing buying behavior

62
Q

are inevitable to a business.

A

sales returns

63
Q

It is a conflict or tension within a consumer considering a product purchase.

A

dissonance

64
Q

this causes the customer to feel uneasy and frequently results in the consumer transferring his business elsewhere or having second thoughts about the purchase

A

dissonance

65
Q

There are customers who love to test the products of different brands not because ofthe prices of productsbut for the sake of their curiosity and interest to taste the new products.

A

variety-seeking buying behavior

66
Q

this type of buyer easily switches the brands. It is because there is the availability of different brands, and the switching cost is low.

A

variety-seeking buying behavior

67
Q

in the variety-seeking buying behavior, the cost must be

A

low

68
Q

These buyers purchase products they are regularly using overthe price and quality.

A

habitual buying behavior

69
Q

consumers with habitual buying behavior may be

A

loyal to the brand

70
Q

habitual buyers are not

A

price-conscious or quality-conscious

71
Q

The behavior of an organization shown in buying goods or services

A

organizational buyer behavior

72
Q

Business and industrial organizations buy goods to

A

use in the business or produce other goods

73
Q

why do organizations buy goods or servies

A

for business use, resale, produce other goods, or provide services

74
Q

why do resellers buy goods

A

for reselling them at a profitable price

75
Q

organizational buying process

A

problem recognition → need description → product/service specification → supplier search → proposal solicitation → supplier selection → purchase order → performance audit

76
Q

recognition of a problem by purchase of a machine, equipment, or merchandise

A

problem recognition

77
Q

this involves describing in general the specific need, the features to be incorporated, and the quantity needed

A

need description

78
Q

who are consulted in needs description to provide specifications and details of the requirement

A

technical personnel

79
Q

technical personnel provides the specific technical details for the needed product or service

A

product specification

80
Q

they provide the specific technical details for the needed product or service

A

technical personnel

81
Q

the company searches and considers possible suppliers of the required product/service. they may conduct plant visits on potential suppliers

A

supplier search

82
Q

why do companies conduct plant visits on potential suppliers

A

to verify their capabilities to fulfill order

83
Q

qualified suppliers are asked to submit a ______ or ______ that conform to the specification of the required product/service

A

supply proposal or price quotation

84
Q

some suppliers may be asked to make _____ during proposal solicitation

A

presentations

85
Q

are asked to submit a supply proposal or price quotation that conform to the specification of the required product/service

A

qualified suppliers

86
Q

the buying company’s technical experts evaluate the proposals and suppliers help the buying company address its problem or need

A

supplier selection

87
Q

what is included in purchase order

A

unit price, total cost, terms of payment, delivery dates, service terms, warranties

88
Q

what are evaluated during the performance audit in order to determine whether to establish business relationship with the supplier or may get an alternative supplier on the next round

A

product and relationship with the supplier

89
Q

main difference between consumer and business buying behavior

A

consumers buy goods/services for personal use. businesses buy things to either manufacture/resell them to other businesses or consumers

90
Q

Consumer buying is usually limited to

A

1-2 participants

91
Q

in the 1-2 participants in consumer buying, it includes the

A

final user of the product

92
Q

Business buying usually involves

A

multiple participants

93
Q
A

201POM (13 decks)

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