Consumer Behavior Overview
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Questions and Answers

What is Consumer Buying Behavior?

  • Marketing strategies used by companies
  • Buying behavior of retailers
  • Buying behavior of final consumers (correct)
  • Behavior of suppliers in the market

    • What is the central question for marketers regarding consumer behavior?

    How do consumers respond to various marketing efforts?

    Culture is the most basic cause of a person's wants and ______.

    behavior

    Which of the following is NOT a factor influencing consumer behavior?

    <p>Retailer</p> Signup and view all the answers

    What are subcultures?

    <p>Groups of people with shared value systems based on common life experiences.</p> Signup and view all the answers

    Which group is considered the most important social factor in consumer behavior?

    <p>Family</p> Signup and view all the answers

    Society's relatively permanent and ordered divisions whose members share similar values are known as ______.

    <p>social classes</p> Signup and view all the answers

    Motivation is a psychological factor affecting consumer behavior.

    <p>True</p> Signup and view all the answers

    What does 'VALS' stand for in consumer behavior studies?

    <p>Values and Lifestyles</p> Signup and view all the answers

    What does Consumer Buying Behavior refer to?

    <p>The buying behavior of final consumers - individuals &amp; households who buy goods and services for personal consumption.</p> Signup and view all the answers

    Which of the following factors influence consumer behavior? (Select all that apply)

    <p>Personal</p> Signup and view all the answers

    Culture is the most basic cause of a person's wants and behavior.

    <p>True</p> Signup and view all the answers

    What are subcultures?

    <p>Groups of people with shared value systems based on common life experiences.</p> Signup and view all the answers

    Which group is NOT mentioned as a subculture?

    <p>Millennials</p> Signup and view all the answers

    Match the following terms with their definitions:

    <p>Social Class = Society’s relatively permanent &amp; ordered divisions Family = Most important influence on consumer behavior Consumer Behavior = Behavior of individuals and households who buy goods and services</p> Signup and view all the answers

    What are the roles that family members can play in buying decisions?

    <p>Influencer, buyer, user.</p> Signup and view all the answers

    Which of the following is a psychological factor affecting consumer behavior?

    <p>Beliefs</p> Signup and view all the answers

    Children have no influence on family buying decisions.

    <p>False</p> Signup and view all the answers

    Study Notes

    Consumer Behavior

    • Consumer Buying Behavior refers to consumers buying goods and services for personal use
    • It's the study of individuals and households
    • The core focus for marketers is to understand how consumers respond to marketing efforts
    • Consumer Market represents all consumers

    Buyer Behavior Model

    • Marketing & Other Stimuli: Product, Price, Place, Promotion, Economic, Technological, Political, Cultural
    • Buyer's Black Box: Buyer Characteristics (cultural, social, personal, psychological) and Buyer Decision Process
    • Buyer Responses: Product Choice, Brand Choice, Dealer Choice, Purchase Timing, Purchase Amount

    Factors Influencing Consumer Behavior

    • Cultural: Culture is the foundation of a person's wants and behavior
    • Cultural Factors: Culture, Subculture, Social Class
    • Social: Family, Reference Groups, Roles and status, Social Networks
    • Personal: Age and Life-Cycle Stage, Occupation, Economic Situation, Lifestyle, Personality and Self-Concept
    • Psychological: Motivation, Perception, Learning, Beliefs and Attitudes

    Cultural Factors

    • Culture: The learned values, perceptions, wants, and behaviors of a society
    • Subculture: Groups within a society sharing common values and experiences, such as Hispanic consumers, African American consumers, Asian American consumers and mature consumers
    • Social Class: It’s a relatively permanent and ordered division in society defined by shared values, interests, behaviors. It's measured by occupation, income, education, wealth, and other variables.

    Social Factors

    • Family: A major influence on consumer behavior, husband, wife, and children often influence family buying decisions
    • Reference Groups: Groups that a person identifies with or aspires to, directly or indirectly influencing his or her attitude and behavior

    Personal Factors

    • Age and Life-Cycle: As people age, their needs and wants change
    • Occupation: Occupation can influence a person's buying patterns
    • Economic Situation: A person's economic situation influences their buying decisions.
    • Lifestyle: Lifestyle is a person's pattern of living, as expressed in their activities, interests, and opinions.
    • Personality and Self-Concept: Personality is a person's unique psychological characteristics. Self-concept refers to a person's view of themselves.

    Psychological Factors

    • Motivation: The internal drives that push people to satisfy needs
    • Perception: The process of selecting, organizing, and interpreting information from the environment
    • Learning: The changes in behavior that arise from experience
    • Beliefs and Attitudes: Beliefs are descriptive thoughts that a person holds about something. Attitudes are a person's enduring evaluation of an object or idea.

    VALS (Values and Lifestyles) Framework

    • It's a psychographic segmentation tool for understanding consumer behavior
    • It analyzes consumers’ values, attitudes, and lifestyles
    • It's used to create targeted marketing campaigns
    • It classifies consumers into eight groups based on their resources (money, education, etc.) and their motivations
    • Actualizers: high resources and high innovation, idealistic and achievement-oriented
    • Fulfilleds: high resources and high innovation, mature, satisfied, and reflective customers
    • Achievers: High resources and high innovation, successful, career-oriented, image consciousness
    • Experiencers: high resources and high innovation, young, impulsive, and spontaneous consumers
    • Believers: low resources, low innovation, conservative, conventional, and traditional
    • Strivers: low resources, low innovation, imitative, and status-conscious.
    • Makers: low resources, low innovation, practical, self-sufficient, and traditional
    • Strugglers: low resources, low innovation, focus on meeting basic needs and are often distressed.

    Consumer Buying Behavior

    • Consumer Buying Behavior refers to the buying behavior of final consumers which are individuals and households who buy goods and services for personal consumption.
    • Consumers make up the consumer market
    • Marketers need to understand how consumers respond to marketing efforts

    Model of Buyer Behavior

    • The buyer’s black box is the unobservable part of the model, which includes buyer characteristics and the buyer decision process.
    • Buyer response to marketing and other stimuli include: product choice, brand choice, dealer choice, purchase timing, and purchase amount.

    Factors Influencing Consumer Behavior

    • Cultural Factors
      • Most basic cause of a person’s wants and behaviors
      • Culture: The set of values, perceptions, wants, and behaviors learned by a member of society
      • Subculture: Groups of people with shared value systems based on common life experiences (includes Hispanics, African Americans, Asian Americans and Mature consumers)
      • Social Class: Relatively permanent divisions within society that share similar values, interests, and behaviors. Measured by occupation, income, education, wealth, and other variables.
    • Social Factors
      • Groups:
        • Membership Groups: Groups that a person belongs to
        • Reference Groups: Serve as points of comparison or reference in forming a person’s attitudes and behaviors
      • Family - Most important group; Husband, wife, kids
      • Roles and Status - Influencers, buyers, users
        • Children influence family buying decisions.
    • Personal Factors
      • Age and Life-Cycle Stage
      • Occupation
      • Economic Situation: Spendable income, savings, and assets.
      • Lifestyle: Person’s pattern or living as expressed in their activities, interests, and opinions.
      • Personality & Self-Concept: Unique psychological characteristics that distinguish a person or group
    • Psychological Factors
      • Motivation: A need that is sufficiently pressing to direct the person to seek satisfaction.
      • Perception: The process by which people select, organize, and interpret information to form a meaningful picture of the world.
      • Learning: Changes in an individual’s behavior arising from experience.
      • Beliefs: Descriptive thoughts that a person holds about something.
      • Attitudes: A person’s consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.

    SRI Values and Lifestyles (VALS)

    • Measures psychological, sociological, and anthropological factors.
    • Identifies eight consumer segments.
    • High Resources: Actualizers, Fulfilleds, Achievers, Experiencers
    • Low Resources: Believers, Strivers, Makers, Strugglers

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    Description

    This quiz explores the fundamentals of consumer buying behavior, focusing on how individuals and households engage with goods and services. It covers the Buyer Behavior Model and factors influencing consumer decisions, including cultural, social, personal, and psychological factors. Understanding these dynamics is crucial for effective marketing strategies.

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