Podcast
Questions and Answers
What is the primary focus of consumer buyer behavior?
What is the primary focus of consumer buyer behavior?
Which of these is NOT considered a source of information during the information search stage of the buyer decision process?
Which of these is NOT considered a source of information during the information search stage of the buyer decision process?
What best describes cognitive dissonance in the context of consumer behavior?
What best describes cognitive dissonance in the context of consumer behavior?
During which stage of the consumer buyer decision process does a consumer weigh different brand choices?
During which stage of the consumer buyer decision process does a consumer weigh different brand choices?
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Which of the following can trigger need recognition?
Which of the following can trigger need recognition?
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Which adopter category is typically the first to adopt a new product?
Which adopter category is typically the first to adopt a new product?
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What is the relationship between customer expectations and a product’s perceived performance in determining post-purchase satisfaction?
What is the relationship between customer expectations and a product’s perceived performance in determining post-purchase satisfaction?
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External stimuli influence the buyer's decision process through what?
External stimuli influence the buyer's decision process through what?
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Study Notes
Consumer Markets and Consumer Buyer Behavior
- Consumer buyer behavior is the buying behavior of final consumers, individuals and households, who buy goods and services for personal consumption.
- The buyer decision process includes need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.
Model of Consumer Behavior
- Consumer buyer behavior is the buying behavior of final consumers (individuals and households) who buy goods and services for personal consumption.
- Need recognition occurs when a problem or need is triggered by internal stimuli (e.g., hunger) or external stimuli (e.g., advertisement).
Characteristics Affecting Consumer Behavior
- Consumer behavior is influenced by cultural, social, personal, and psychological factors.
- Cultural factors: Culture, subculture, and social class influence consumer behavior.
- Social factors: Reference groups, family, and roles and status affect buying decisions
- Personal factors: Age and life-cycle stage, occupation, economic situation, lifestyle, and personality and self-concept all play a role
- Psychological factors: Motivation, perception, learning, beliefs, and attitudes
The Buyer Decision Process
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The buyer decision process is a five-stage process.
- Need Recognition: Occurs when the consumer recognizes a problem or need. Needs can be triggered by internal or external stimuli.
- Information Search: The consumer searches for information about how to solve the problem or fulfill the need. Sources include personal, commercial, public, and experiential.
- Evaluation of Alternatives: Consumers evaluate possible solutions to the problem. How a consumer weighs up the options to make their decision depends on their circumstances.
- Purchase Decision: The consumer decides which product or brand to buy.
- Post-purchase Behavior: The consumer evaluates the purchase and takes action afterwards like talking to friends about the purchase, returning the product, or feeling positive about the buy. This behaviour can differ due to consumer satisfaction (or dissatisfaction) with product performance relative to their expectations, leading to cognitive dissonance (discomfort).
The Buyer Decision Process for New Products
- Innovators, early adopters, early mainstream, late mainstream, and lagging adopters are categories of consumers based on their innovativeness. These categories help marketers understand how consumers respond to new products. These groups describe how quick a consumer is to adopt new technology or products.
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Description
Explore the key concepts of consumer markets and the buyer decision process that influences individual and household purchasing decisions. This quiz covers cultural, social, personal, and psychological factors that shape consumer behavior.
