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Week 3 - Consumer & Buyers Behaviour Flashcards

(46 cards)

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1
Q

What is consumer behaviour

A

Consumer behaviour is the term used to describe the analysis of the behaviour of individuals and households who buy goods and services for personal consumption

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2
Q

Influences on customer behaviour

A

Situational
Group
Individuals

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3
Q

Situational

A

Physical
Social
Time
Motivational
Mood

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4
Q

Group

A

Cultural (Cultural, subcultural, social class) - The influence of the values, beliefs and customs of the person’s community.

Social (Reference group, family, roles and status) - The influence of other people

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5
Q

Individuals

A

Personal (Demographic, lifestyle, personality and self-concept)

Psychological (motivation, perception, beliefs and attitudes, learning)

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6
Q

Nudge Theory (Situational)

A

Involves slightly altering the environment - choice architecture

Make people behave in a predictable way

Does so in a way without disposing of alternative

Does not provide significant incentives for the behavioural change

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7
Q

Cultural Factors

A

From a marketing perspective, this level of analysis corresponds with that of the mass market

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8
Q

Culture (1)

A

The broadest group influence on behaviour is arguably that of culture

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9
Q

Culture (2)

A

Culture is a system of knowledge, beliefs, values, rituals and artefacts by which a society or other large group defines itself

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10
Q

Culture (3)

A

Culture is multidimensional and includes both tangible and intangible elements

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11
Q

Geert Hofstede cultural dimensions theory

A

Power distance - The extent to which the less powerful members accept and except unequal power distribution

Uncertainty avoidance - To what extent members tolerate uncertainties

Individualism - Focus on the rights and concerns of each member

Masculinity - Extent to which members stress different expectations for men and women

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12
Q

Subculture

A

Group of individuals who differ on some influential dimensions

Extracted from the broader culture in which they are immerse

Important to consider when their shopping and purchasing behaviour is significantly different from the remainder of the population

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13
Q

Social Class

A

Individuals of similar rank within the hierarchy

Economic indicators
- Income
- Occupation
- Educational background

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14
Q

Social Factors

A

The social level is concerned with developing an understanding of the behaviour of the individual within the wider group

Focused on understanding how the group influences the behaviour of its individual members

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15
Q

Social Factors (2)

A

Typically, through group pressures on the individual to conform with group norms

Reference Group - Any group which an individual looks for guidance (values, attitudes, behaviour)

The influence of reference groups is particularly strong when the individual lacks previous experience as a guide for behaviour

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16
Q

Reference Groups

A

Major Reference Groups
- Membership Reference Group
- Aspirational Reference Groups
- Dissociative Reference Groups

Opinion Leader

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17
Q

Major Reference

A

Those we are part of already

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18
Q

Aspirational Reference

A

Those we want to be associated with

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19
Q

Dissociative Reference

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A

Those we don’t want to be associated with

20
Q

Opinion Leader

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A

A reference group member who provides relevant and influential advice about a specific topic of interest to group members

21
Q

Family

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A

For most people, the social group with the most influence over their behaviour is the family

22
Q

Individual Factors

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A

Factors that influence the consumers who operate independently of social circumstances

Relates to personal and psychological factors

23
Q

Personal Characteristics

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A

At the level of individual buyer or consumer, we can identify a range of personal characteristics

These personal characteristics, in some ways constitute an individual’s identify and, in this sense, are objective and relatively stable in the short term

24
Q

Demographic

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A

Describe using existing objectives, measurable characteristics that are either assumed or demonstrated to be related to the purchase or consumption of products

25
Lifestyle
Defined by how they spend their time and how they interact with others Significant difference between an individual's actual lifestyle and their preferred lifestyle
26
Personality
The most distinctive characteristic that defines an individual’s behaviour While relatively consistent and enduring, it does change throughout life Changes are normally in response to social and environmental influences and personal experiences
27
Personal Characteristics
Psychological characteristic describe - - internal factors that shape: - Thinking - Aspirations - Expectations - Behaviours of the individual
28
Motivation
Used to describe the individual’s internal drive to act to satisfy unfulfilled needs or achieve unmet goals Often specific to the individual and situation, but some motives are consistent over time and across the population
29
Motivation: Maslow Hierarchy Of Needs
- Self-actualisation (Creative arts, service to others) - Esteem (Respect from peers) - Love or belongingness (Intimacy) - Safety (Housing, money) - Physiological (Hunger, thirst)
30
Beliefs and attitudes
Consumers rely upon these when making judgements and products for which there is no readily apparent need. The three components that make up an attitude are: - The cognitive component - The affective component - The behavioural component
31
Perception
Perception is the psychological process that filters, organises and attributes meaning to external stimuli Perception is selective and can result in the following - Selective exposure - Selective attention - Selective distortion - Selective retention
32
Learning
Learning is the process by which individuals acquire new knowledge and experiences Behavioural learning theories stress the role of experience and repetition of behaviour Cognitive learning theories describe learning that takes place through rational problem solving, and that emphasise the acquisition and processing of new information
33
Consumer decision-making process
Need/want recognition Information research Evaluation of options Purchase Post-purchase evaluation
34
Consumer decision-making process (2)
There are exceptions to this process. - Habitual Decision Making - Involves little involvement with the purchase - Limited Decision Making - Involves seeking limited information to evaluate options for infrequent purchases within familiar product categories - Extended Decision Making - Involves a high level of involvement with the purchase decision in a protracted, deliberate and detailed way
35
Introduction to Business Markets
Business markets (Business-to-Business) have distinctive characteristics that make them different from consumer markets Business markets frequently have a small number of large competitors and are made up of a small number of large buyers Purchases are often for large amounts Business markets are much larger in revenue term than the consumer markets they service
36
Business Markets (1)
Business markets are made of individuals or organisations that purchase products for one or more of the following three purposes - To resell the product - To use the product in the production of other products - To use the product in their daily business operations
37
Business Markets (2)
The overall business market comprises four major categories - Reseller markets - Producer markets - Government markets - Institutional markets
38
Reseller Markets
Reseller markets buy products in order to sell or lease them to other parties for profit Wholesalers - Purchase products from suppliers and producers for resale to other intermediaries Industrial Distributors - Purchases products from producers and sell them on to organisational buyers Retailers - Purchase products from suppliers, manufacturers or other intermediaries for resale to consumers
39
Producer Markets
Producer markets purchase product for use in the production of other products or for use in their daily business operations They operate across all sectors of the economy - Primary (agriculture and mining) - Secondary (industries and manufacturing)
40
Government Markets
Governments that buy and sell products to provide services for their citizens The government sector represents a substantial provider and purchaser of goods and services. Demand can fluctuate widely because ‘fiscal’ policy is used to attempt to smooth macroeconomic fluctuations or as governments of competing political persuasions alternate in power The time, cost and uncertainty make many companies reluctant to do business with the government, regardless of the potential sales revenue.
41
Institutional Markets
Not-for-profit organisations NFP organisations typically have different goals and fewer resources than commercial organisations Marketing to such organisations will often be less financially profitable, but overall the NFP sector still comprises a very substantial market
42
Business Buying Behaviour
Business purchases usually take the form of a straight rebuy, a modified rebuy or a new task purchase The level of involvement is also reflected in the buying approach the business takes, which may involve some or all of the following - Negotiation - Description - Inspection - Sampling
43
Straight Rebuy
Occurs when buyers purchase the same product routinely from established vendors under already-established terms of sales, often through an automated or semi-automated ordering system
44
Modified Rebuy
Usually involves some degree of evaluation of alternative product options
45
New task purchase
When a business identifies a new problem or introduces a new process or product, where they buy the product for the first time.
46
The Business Decision-Making Process
The business decision-making process is the same as the consumer decision-making process

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