Consumer Markets and Behavior
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Questions and Answers

What happened to the price of Rolex watches as they were perceived to be more exclusive?

  • The price decreased significantly.
  • The price increased over time. (correct)
  • The price fluctuated wildly.
  • The price remained the same.

What lifestyle classification focuses on preserving traditional values?

  • Materialism
  • Traditional orientation (correct)
  • Hedonism
  • Postmodernism

Which aspect differentiates self-concept from personality?

  • Self-concept involves traits and characteristics.
  • Personality refers to external image only.
  • Personality is only about social interactions.
  • Self-concept relates to how one perceives themselves. (correct)

In motivational psychology, what transforms a need into a motive?

<p>It is aroused to a sufficient level of intensity. (D)</p> Signup and view all the answers

What is selective attention in the context of perception?

<p>The difficulty in perceiving unattended information. (C)</p> Signup and view all the answers

What is a characteristic trait of personality?

<p>Self-confidence (A)</p> Signup and view all the answers

Which category does NOT fall under the SRI VALS lifestyle classification?

<p>Destructive behavior (A)</p> Signup and view all the answers

What role does the family play in consumer buying behavior?

<p>It acts as the primary consumer-buying organization in society. (A)</p> Signup and view all the answers

Which of the following describes an opinion leader?

<p>Someone who is trusted and admired by others. (A)</p> Signup and view all the answers

How should a customer’s perception affect product marketing?

<p>It should align with customer beliefs about the product. (B)</p> Signup and view all the answers

An 'initiator' in the consumer buying roles is best described as?

<p>The individual who recognizes a need and starts the buying process. (B)</p> Signup and view all the answers

How does age influence consumer behavior?

<p>Consumer behavior changes at different life cycle stages. (A)</p> Signup and view all the answers

Which stage of the family lifecycle is associated with joint decision-making for purchases?

<p>Families with children. (C)</p> Signup and view all the answers

What is an example of a personal factor influencing consumer behavior?

<p>An individual's occupation. (D)</p> Signup and view all the answers

What is indicated by the concept of 'family of procreation'?

<p>The family formed through marriage that impacts consumer decisions. (B)</p> Signup and view all the answers

What occupational distinction is becoming less relevant in modern consumer behavior?

<p>The difference between blue collar and white collar jobs. (D)</p> Signup and view all the answers

What is selective distortion?

<p>The inclination to interpret information based on existing beliefs. (C)</p> Signup and view all the answers

What does selective retention refer to?

<p>The tendency to remember information that aligns with personal values. (D)</p> Signup and view all the answers

What is a drive in the context of learning?

<p>A desire that compels action. (C)</p> Signup and view all the answers

What is represented by the term 'cues' in the learning process?

<p>Keywords or signs that guide decision-making. (A)</p> Signup and view all the answers

What is indicated by the term 'reinforcement' in the learning process?

<p>An outcome that strengthens a behavior. (D)</p> Signup and view all the answers

How are beliefs defined in this context?

<p>Descriptive thoughts based on knowledge or opinion. (B)</p> Signup and view all the answers

How does a brand's perception affect consumer behavior?

<p>It can distort how consumers interpret information about the brand. (C)</p> Signup and view all the answers

What occurs if a purchased product is well-received by others?

<p>It reinforces the behavior leading to the purchase. (C)</p> Signup and view all the answers

What defines a consumer market?

<p>The consumption of final consumers for personal use (A)</p> Signup and view all the answers

Which factor influences consumer behavior according to the model?

<p>Cultural, social, personal, and psychological factors (B)</p> Signup and view all the answers

What does consumer purchase behavior involve?

<p>The buying behavior of individuals and households for personal consumption (B)</p> Signup and view all the answers

Which of the following is NOT a component of buyer’s characteristics affecting consumer behavior?

<p>Social media presence (D)</p> Signup and view all the answers

What does culture primarily refer to in consumer behavior?

<p>The learned values and perceptions from important institutions (C)</p> Signup and view all the answers

Which of the following is a psychological factor that can affect consumer behavior?

<p>Learning (A)</p> Signup and view all the answers

In consumer behavior, what is the purpose of marketing stimuli?

<p>To influence buyer responses (B)</p> Signup and view all the answers

Which of the following is a personal factor influencing consumer behavior?

<p>Occupation (D)</p> Signup and view all the answers

What often leads to a consumer abandoning a complex buying decision?

<p>Perceived risk associated with the product (D)</p> Signup and view all the answers

What determines the level of satisfaction or dissatisfaction in post-purchase behavior?

<p>The gap between expectations and perceived performance (D)</p> Signup and view all the answers

What is cognitive dissonance in the context of post-purchase behavior?

<p>Regret from a purchase decision (D)</p> Signup and view all the answers

How do consumers often react if they are satisfied with a product?

<p>They may share their positive experience with others (C)</p> Signup and view all the answers

Why might marketing messages be necessary for a product?

<p>To trigger a perceived need among consumers (A)</p> Signup and view all the answers

What are complex buying decisions likely to involve?

<p>More buying participants and deliberation (D)</p> Signup and view all the answers

What social risk can be associated with purchasing a product?

<p>Concerns about how others perceive the purchase (B)</p> Signup and view all the answers

What can result if customers hold unfavorable attitudes towards a brand?

<p>A need for changing brand perceptions or product modifications (B)</p> Signup and view all the answers

What type of buying behavior involves high involvement and significant differences between brands?

<p>Complex buying behavior (B)</p> Signup and view all the answers

In which buying behavior do consumers mostly rely on price, convenience, and brand recognition?

<p>Dissonance-reducing buying behavior (C)</p> Signup and view all the answers

Which buying behavior is characterized by low involvement and a habit more than a preference?

<p>Habitual buying behavior (A)</p> Signup and view all the answers

What type of buying behavior involves consumers switching brands for the fun of trying something different?

<p>Variety-seeking buying behavior (C)</p> Signup and view all the answers

Which of the following is a typical example of complex buying behavior?

<p>Purchasing a car (D)</p> Signup and view all the answers

What drives purchasing decisions in habitual buying behavior?

<p>Price and sales promotions (A)</p> Signup and view all the answers

Why is the porcelain brand Porcelanosa more expensive?

<p>It is widely recognized and reinforces a perception of quality (A)</p> Signup and view all the answers

What is a key characteristic of low involvement in buying behavior?

<p>Brand choice is mostly habitual (C)</p> Signup and view all the answers

Flashcards

Reference Groups

The groups we compare ourselves to, influencing our perceptions of what's acceptable.

Opinion Leaders

Individuals we highly regard, influencing our behaviors and aspirations.

Family as a consumer buying organization

A group of people bound by blood or marriage, wielding significant influence on consumption decisions.

Initiator (consumer buying role)

A person who first recognizes a need or problem that requires a purchase.

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Influencer (consumer buying role)

A person who provides information or advice influencing the decision-making process.

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Decider (consumer buying role)

A person who makes the final decision on a purchase.

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Buyer (consumer buying role)

A person who actually makes the purchase.

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User (consumer buying role)

A person who uses the purchased product or service.

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Consumer Purchase Behavior

The buying behavior of final consumers, individuals, and households, who buy goods and services for personal consumption.

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Consumer Market

The set of all personal consumption by final consumers, involving goods and services used for their own value and not incorporated into production processes.

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Model of Consumer Behavior

A model of consumer behavior that considers external influences, internal processes, and resulting actions.

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Culture

This refers to the learned values, perceptions, wants, and behaviors that individuals acquire from family and other institutions.

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Subcultures

These are groups within a culture that share common values, beliefs, and lifestyles.

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Social Class

A hierarchical division of a society based on factors like income, education, and occupation.

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Roles and Status

These are the roles and status that people occupy within various groups.

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Lifestyle

A person's characteristic pattern of behaviors, interests, and beliefs, and their expression in their daily life.

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SRI VALS

A psychological classification system that categorizes individuals based on their values and lifestyles.

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SINUS GmbH Classification

A classification system that categorizes people based on their values and lifestyles, focusing primarily on their relationship with material possessions and societal norms.

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Personality

A set of unique, stable, and consistent psychological characteristics that influence how an individual interacts with their environment.

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Self-Concept

How we see ourselves, both in terms of our actual self-image and our desired self-image.

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Motivation

A psychological need that becomes a motive when it is aroused to a sufficient level of intensity. It is the driving force behind behavior.

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Perception

The process by which people select, organize, and interpret information from their senses to create a meaningful understanding of the world.

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Selective Attention

The difficulty in noticing or attending to something that you are not actively focusing on.

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Selective Distortion

The tendency to interpret information based on our existing beliefs and perceptions.

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Learning

A change in behavior resulting from experience. It involves drives, stimuli, cues, responses, and reinforcement.

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Drive

A drive is an internal force that motivates a person to act. This could be a need, desire, or goal.

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Stimuli

A stimuli is an external factor that triggers a response in a person.

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Cues

A cue is a specific signal that helps a person understand how to respond in a particular situation.

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Response

The behavior or action a person takes in response to a situation.

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Reinforcement

Something that strengthens a desired behavior. It can be positive (reward) or negative (removal of something unpleasant).

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Perceived Risk

The uncertainty a consumer feels about the potential negative consequences of a purchase.

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Cognitive Dissonance

Buyer's remorse or the feeling of regret after buying a product. It's often caused by a mismatch between expectations and actual performance.

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Word-of-Mouth (WOM)

Consumers' communication about a product or brand to others. Positive word-of-mouth can boost sales, while negative word-of-mouth can damage a brand's reputation.

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Complex Buying Behavior

The process of evaluating products and services based on their perceived benefits and risks. It involves weighing the pros and cons and making a decision about whether or not to buy.

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Post-Purchase Behavior

The difference between what a consumer expects from a purchase and their actual experience with the product. It determines levels of satisfaction or dissatisfaction.

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Perceived Performance

Consumers' evaluation of a product's performance in meeting their needs and expectations.

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Consumer Attitudes

The set of feelings and beliefs about a product or brand that influence a consumer's decision to buy.

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Marketing

The process of influencing consumer behavior in a way that leads to a purchase.

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Dissonance-Reducing Buying Behavior

High involvement in a purchase, but few brand differences. The product is expensive, bought infrequently, and lacks significant brand distinctions.

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Habitual Buying Behavior

Low involvement and minimal brand variation, driven by routine and familiarity. Brand choice is habitual and not based on strong brand conviction.

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Variety-Seeking Buying Behavior

Low involvement, but significant perceived brand differences. Consumers switch brands frequently for variety or novelty.

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Purchase Involvement

The level of importance and effort consumers place on a purchase decision.

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When does complex buying behavior occur?

High involvement, high differences between brands, expensive, risky, infrequent purchase. Example: buying a house, a car, or a computer.

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When does dissonance-reducing buying behavior occur?

High involvement, few differences between brands, expensive, infrequent purchase. Example: buying tiles.

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When does habitual buying behavior occur?

Low involvement, little brand difference, frequent purchase. Example: buying kitchen paper towels.

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Study Notes

Consumer Markets

  • Consumer markets involve the personal consumption of final goods by individuals or households, without incorporating them into a production process.
  • Industrial/institutional/organizational markets, in contrast, involve goods purchased for use in a production process to create other products.
  • Consumer purchase behavior describes how final consumers make decisions when buying goods and services.

Characteristics Affecting Consumer Behavior

  • The Environment: Factors like the marketing mix (product, price, promotion, place) and external factors (economic, technological, social, cultural) influence consumer behavior.
  • Buyer's Black Box: This represents the buyer's characteristics and decision process, influencing their responses.
  • Buyer's Characteristics: Include cultural factors (culture, subculture, social class), social factors (reference groups, family, roles, status), personal factors (age, lifestyle, personality), and psychological factors (motivation, perception, learning, beliefs, attitudes).

Cultural Factors

  • Culture: Learned values, perceptions, wants, behaviors from family and institutions. (e.g., coffee in Spain, tea in the UK)
  • Subcultures: Groups within a culture sharing values based on common experiences and situations.
  • Social Class: Relatively permanent and ordered social divisions based on similar values, interests, and behaviors.
  • Examples: Social class affects buying choices. Wealthier consumers may prefer more expensive brands like Red Bull, while others prefer more affordable brands like Monster.

Social factors

  • Reference Groups: Primary (frequent contact) or secondary (less frequent) groups influencing behavior.
  • Family: Family of orientation and procreation, with different roles in purchasing decisions.
  • Social Class and Consumer Behavior: People in similar social classes share behaviors.

Personal factors

  • Age and Life Cycle Stage: Consumer behavior differs across life stages,
  • Occupation: Occupation also influences buyer behavior
  • Economic Situation: Financial situation impacts buying decisions. Customers paying attention to the economic situation, and some economic behaviors are more resilient than others.
  • Lifestyle: Pattern of living, including activities, interests, and opinions.
  • Personality and Self-Concept: Unique psychological characteristics influencing consumer responses.

Psychological factors

  • Motivation: An aroused need driving consumer behavior
  • Perception: How consumers select, organize, and interpret sensory information influencing buying decisions.
  • Learning: Changes in consumer behavior resulting from experience.
  • Beliefs and Attitudes: Beliefs are descriptive thoughts about something and attitudes are consistent evaluations of something.

The Buyer Decision Process

  • Need Recognition: Awareness of a need or want.
  • Information Search: Seeking information about available options.
  • Evaluation of Alternatives: Comparing options based on various factors (e.g., features, price, quality)
  • Purchase Decision: Making a purchase decision.
  • Post-Purchase Behavior: Evaluating the purchase after use.

Types of Buying Decisions

  • Complex Buying Behavior: High involvement, significant differences between brands (e.g., expensive cars).
  • Dissonance-Reducing Buying Behavior: High involvement, little difference between brands (e.g., expensive goods with little differentiation, like some types of appliances).
  • Habitual Buying Behavior: Low involvement, little differentiation (e.g., everyday items)
  • Variety-Seeking Buying Behavior: Low involvement and significant perceived differences between brands (e.g., trying different flavors of ice cream).

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UNIT 3 Strategic Marketing: Consumer Markets PDF

Description

This quiz explores the concepts of consumer markets, focusing on how individuals and households make purchasing decisions. It also examines the various factors that influence consumer behavior, including environmental, social, and personal characteristics. Test your understanding of these essential marketing principles!

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