Podcast
Questions and Answers
Who are the individuals that actually use the product or service in the business buying process?
Who are the individuals that actually use the product or service in the business buying process?
- Buyers
- Deciders
- Users (correct)
- Influencers
Which participant in the business buying process has the authority to select the supplier and arrange terms of purchase?
Which participant in the business buying process has the authority to select the supplier and arrange terms of purchase?
- Influencers
- Buyers (correct)
- Deciders
- Gatekeepers
What is the role of influencers in the business buying process?
What is the role of influencers in the business buying process?
- To define specifications and provide information for evaluating alternatives (correct)
- To possess final decision-making power
- To handle postpurchase evaluations
- To control the flow of information
Which factor is NOT categorized as a major influence on business buyers?
Which factor is NOT categorized as a major influence on business buyers?
Which economic factor is typically considered in business buying decisions?
Which economic factor is typically considered in business buying decisions?
What is one way gatekeepers influence the buying process?
What is one way gatekeepers influence the buying process?
Which of the following is a consideration in the evaluation criteria of participants in the buying center?
Which of the following is a consideration in the evaluation criteria of participants in the buying center?
What role does the environment play in business buying behavior?
What role does the environment play in business buying behavior?
Which group directly influences consumer behavior and includes individuals to whom a person belongs?
Which group directly influences consumer behavior and includes individuals to whom a person belongs?
What does the PRIZM Lifestage Groups system classify?
What does the PRIZM Lifestage Groups system classify?
Which factor is considered the most important consumer-buying organization in society?
Which factor is considered the most important consumer-buying organization in society?
How does age most likely affect consumer behavior?
How does age most likely affect consumer behavior?
Which of the following best describes 'buzz marketing'?
Which of the following best describes 'buzz marketing'?
What is the primary function of reference groups in consumer behavior?
What is the primary function of reference groups in consumer behavior?
What role does 'occupation' play in consumer buying behavior?
What role does 'occupation' play in consumer buying behavior?
What is the first stage of the buyer decision process?
What is the first stage of the buyer decision process?
Which of the following is NOT considered a social factor affecting consumer behavior?
Which of the following is NOT considered a social factor affecting consumer behavior?
During which stage of the buyer decision process does a consumer seek additional information?
During which stage of the buyer decision process does a consumer seek additional information?
Which of the following is NOT a source of information during the information search stage?
Which of the following is NOT a source of information during the information search stage?
What can potentially affect the purchase decision even if there is a strong purchase intention?
What can potentially affect the purchase decision even if there is a strong purchase intention?
In the alternative evaluation stage, what do consumers specifically compare?
In the alternative evaluation stage, what do consumers specifically compare?
What type of buying behavior is characterized by a high level of involvement and complexity?
What type of buying behavior is characterized by a high level of involvement and complexity?
What initiates the need recognition process in consumers?
What initiates the need recognition process in consumers?
Which behavior reflects a tendency to switch brands for the sake of variety without strong loyalty?
Which behavior reflects a tendency to switch brands for the sake of variety without strong loyalty?
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Study Notes
Participants in the Business Buying Process
- Users: Individuals who will directly use the product or service.
- Influencers: Provide specifications and information for evaluating alternatives in the buying process.
- Buyers: Authorized individuals who select suppliers and negotiate purchase terms.
- Deciders: Have the power (formal or informal) to approve the final supplier choice.
- Gatekeepers: Control the flow of information among the buying center.
Business Buying Center Concept
- Involves multiple participant groups, each with varying influence on decisions.
- Importance of understanding each group's evaluation criteria and influence on the decision.
- Consideration of informal participants who may impact decision-making.
Major Influences on Business Buying Behavior
- Economic Factors: Price and service are primary influences.
- Personal Factors: Emotions can heavily affect buying decisions.
- Environmental Factors: Include demand for the product, economic outlook, supply of materials, technology, culture, politics, and competition.
Social Factors Affecting Consumer Behavior
- Membership Groups: Possess direct influence on individual decisions.
- Aspirational Groups: Represent individuals' desires and aspirations.
- Reference Groups: Serve as comparison points for attitudes and behaviors.
Groups and Social Networks
- Online networks, buzz marketing, and social media influence buying behaviors.
- Word-of-mouth recommendations play a crucial role in consumer decisions.
- Opinion leaders significantly affect the views and choices of others.
Personal Factors Influencing Buying Behavior
- Family: The most significant consumer-buying organization affecting individual choices.
- Age and Life-Cycle Stage: The PRIZM Lifestage Groups includes 66 segments and 11 life-stage groups.
- Occupation: Influences the types of goods and services purchased.
Types of Buying Decision Behavior
- Complex Buying Behavior: Involves high involvement and complex decision-making.
- Dissonance-Reducing Buying Behavior: Occurs when consumers perceive few differences among brands but still compare them.
- Habitual Buying Behavior: Involves routine purchases with minimal thought.
- Variety-Seeking Buying Behavior: Occurs when consumers switch brands for variety rather than dissatisfaction.
The Buyer Decision Process
- Need Recognition: The first stage where a problem or need triggers awareness, influenced by internal or external stimuli.
- Information Search: Motivation drives consumers to seek information from personal, commercial, public, or experiential sources.
- Evaluation of Alternatives: The consumer uses gathered information to assess different brands within the consideration set.
- Purchase Decision: Final choice of brand may be influenced by others' attitudes or situational factors, differentiating intention from actual decision.
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