Consumer Markets and Behavior
48 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

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.</p> Signup and view all the answers

    What is selective attention in the context of perception?

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

    What is a characteristic trait of personality?

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

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

    <p>Destructive behavior</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.</p> Signup and view all the answers

    Which of the following describes an opinion leader?

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

    How does age influence consumer behavior?

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

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

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

    What is selective distortion?

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

    What does selective retention refer to?

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

    What is a drive in the context of learning?

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

    How are beliefs defined in this context?

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

    What defines a consumer market?

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

    Which factor influences consumer behavior according to the model?

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

    What does consumer purchase behavior involve?

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

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

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

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

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

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

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

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

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

    Why might marketing messages be necessary for a product?

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

    What are complex buying decisions likely to involve?

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

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

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

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

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

    What drives purchasing decisions in habitual buying behavior?

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

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

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

    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).

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    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!

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser