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Questions and Answers
Questions and Answers
Marketing factors that affect consumer behaviour include ______.
Marketing factors that affect consumer behaviour include ______.
product, promotion, place, and pricing
Hispanic American Consumers are deeply oriented in ______, with their children having a lot to say in what the adults buy.
Hispanic American Consumers are deeply oriented in ______, with their children having a lot to say in what the adults buy.
family
Asian American Consumers are ______, especially in the ones that work in relation to them.
Asian American Consumers are ______, especially in the ones that work in relation to them.
brand loyal
______ is a group that serves as a direct or indirect point of comparison or reference in forming a person’s attitudes or behaviour.
______ is a group that serves as a direct or indirect point of comparison or reference in forming a person’s attitudes or behaviour.
Word of mouth influence: the impact of the personal words and recommendations to friends and other consumers
Word of mouth influence: the impact of the personal words and recommendations to friends and other consumers
Brand personality: specific mix of human traits that may be attributed to particular brands. (sincerity, excitement, competence, sophistication and ruggedness)
Brand personality: specific mix of human traits that may be attributed to particular brands. (sincerity, excitement, competence, sophistication and ruggedness)
Psychological factors: time, social surroundings
Psychological factors: time, social surroundings
Complex buying behaviour: high consumer involvement in a purchase and significant perceived differences among brands
Complex buying behaviour: high consumer involvement in a purchase and significant perceived differences among brands
Habitual buying behaviour: low consumer involvement and little brand significance. For example, take table salt. Consumers have little involvement in this product category—they simply go to the store and reach for a brand. If they keep reaching for the same brand, it is out of habit rather than strong brand loyalty
Habitual buying behaviour: low consumer involvement and little brand significance. For example, take table salt. Consumers have little involvement in this product category—they simply go to the store and reach for a brand. If they keep reaching for the same brand, it is out of habit rather than strong brand loyalty
- Need recognition: first stage, consumer recognized the problem or need. - Can be triggered by internal stimuli or external stimuli.
- Need recognition: first stage, consumer recognized the problem or need. - Can be triggered by internal stimuli or external stimuli.
- Evaluation of alternatives: consumer uses information to evaluate alternative brands in the choice set.
- Evaluation of alternatives: consumer uses information to evaluate alternative brands in the choice set.
The Customer Journey: Sum of ongoing experiences consumers have with a brand, that affect their buying behavior, engagement and brand advocacy over time
The Customer Journey: Sum of ongoing experiences consumers have with a brand, that affect their buying behavior, engagement and brand advocacy over time
New product: good or service or idea that is perceived by some potential customers as new
New product: good or service or idea that is perceived by some potential customers as new
Stages in the Adoption Process: - Awareness (lacks info), interest (seek information), evaluation (if trying the new product makes sense), trial (tries product, to improve his or her estimate of its value), adoption (full and regular use)
Stages in the Adoption Process: - Awareness (lacks info), interest (seek information), evaluation (if trying the new product makes sense), trial (tries product, to improve his or her estimate of its value), adoption (full and regular use)
Innovators: try new ideas
Innovators: try new ideas
Rate of adoption: time products take to gain acceptance in the market. Several characteristics influence the rate of adoption: relative advantage, compatibility, complexity, divisibility and communicability
Rate of adoption: time products take to gain acceptance in the market. Several characteristics influence the rate of adoption: relative advantage, compatibility, complexity, divisibility and communicability
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Study Notes
Study Notes
Marketing Factors that Affect Consumer Behaviour
- Hispanic American Consumers are deeply family-oriented, with their children having a significant influence on adult purchasing decisions.
- Asian American Consumers are highly brand-loyal, especially when it comes to brands that resonate with their cultural identity.
Social Factors
- Reference groups serve as a direct or indirect point of comparison or reference in forming a person’s attitudes or behaviour.
- Word of mouth influence is the impact of personal words and recommendations to friends and other consumers.
Brand Personality
- A brand personality is a specific mix of human traits that may be attributed to particular brands, including sincerity, excitement, competence, sophistication, and ruggedness.
Buying Behaviour
- Complex buying behaviour is characterized by high consumer involvement in a purchase and significant perceived differences among brands.
- Habitual buying behaviour is marked by low consumer involvement and little brand significance, often resulting in habitual purchases.
- Example: consumers may purchase table salt based on habit rather than strong brand loyalty.
Consumer Decision-Making Process
- Need recognition is the first stage, where a consumer recognizes a problem or need, triggered by internal or external stimuli.
- Evaluation of alternatives is the stage where a consumer uses information to evaluate alternative brands in the choice set.
Customer Journey
- The Customer Journey refers to the sum of ongoing experiences consumers have with a brand, affecting their buying behavior, engagement, and brand advocacy over time.
New Product Adoption
- A new product is a good, service, or idea perceived as new by some potential customers.
- Stages in the Adoption Process include:
- Awareness (lacking information)
- Interest (seeking information)
- Evaluation (assessing whether trying the new product makes sense)
- Trial (trying the product to improve estimate of its value)
- Adoption (full and regular use)
- Innovators are the first to try new ideas.
- The rate of adoption is influenced by characteristics such as relative advantage, compatibility, complexity, divisibility, and communicability.
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