Podcast
Questions and Answers
What is the most fundamental factor that drives a person's wants and behavior?
What is the most fundamental factor that drives a person's wants and behavior?
Culture
Which of the following are considered subcultures?
Which of the following are considered subcultures?
Social classes are dynamic and fluid, frequently shifting based on individual achievements.
Social classes are dynamic and fluid, frequently shifting based on individual achievements.
False (B)
What is the term for individuals or groups that strongly influence a person's buying choices?
What is the term for individuals or groups that strongly influence a person's buying choices?
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Word-of-mouth marketing is considered less credible than advertising or sales pitches.
Word-of-mouth marketing is considered less credible than advertising or sales pitches.
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Which of the following personal factors influence a buyer's decisions?
Which of the following personal factors influence a buyer's decisions?
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What is the term used to describe a person's unique psychological characteristics that distinguish them from others?
What is the term used to describe a person's unique psychological characteristics that distinguish them from others?
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What is the primary trigger that transforms a need into a motive?
What is the primary trigger that transforms a need into a motive?
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Which of the following is NOT a key element of the perception process?
Which of the following is NOT a key element of the perception process?
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Learning refers to changes in behavior arising solely from conscious efforts.
Learning refers to changes in behavior arising solely from conscious efforts.
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What is a belief based on?
What is a belief based on?
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Attitudes are fixed and unchangeable, reflecting a person's enduring evaluations
Attitudes are fixed and unchangeable, reflecting a person's enduring evaluations
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What is the term for a person's consistent evaluations, feelings, and tendencies towards a particular object or idea?
What is the term for a person's consistent evaluations, feelings, and tendencies towards a particular object or idea?
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What are the three types of consumer buying behavior based on involvement and differences among brands?
What are the three types of consumer buying behavior based on involvement and differences among brands?
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Complex Buying Behavior occurs when consumers are highly involved in a purchase decision and perceive significant differences among brands.
Complex Buying Behavior occurs when consumers are highly involved in a purchase decision and perceive significant differences among brands.
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What type of buying behavior occurs when consumers are highly involved in a purchase but see little difference among brands?
What type of buying behavior occurs when consumers are highly involved in a purchase but see little difference among brands?
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Which of the following is an example of a product category that typically exhibits Habitual Buying Behavior?
Which of the following is an example of a product category that typically exhibits Habitual Buying Behavior?
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Variety Seeking Buying Behavior is characterized by high consumer involvement and a desire for consistent choices.
Variety Seeking Buying Behavior is characterized by high consumer involvement and a desire for consistent choices.
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What are the five stages of the buyer decision process?
What are the five stages of the buyer decision process?
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Need recognition is triggered solely by internal stimuli.
Need recognition is triggered solely by internal stimuli.
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What is the stage of the buyer decision process where consumers are motivated to gather more information?
What is the stage of the buyer decision process where consumers are motivated to gather more information?
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Alternative Evaluation involves comparing brands solely on price.
Alternative Evaluation involves comparing brands solely on price.
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What is the stage where the consumer makes the final decision about which brand to purchase?
What is the stage where the consumer makes the final decision about which brand to purchase?
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What is the final stage of the buyer decision process?
What is the final stage of the buyer decision process?
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Study Notes
Consumer Markets and Buying Behavior
- Consumer buyer behavior refers to the buying habits of final consumers. These consumers, individuals and households, buy goods and services for personal use.
- Consumer market encompasses all individuals and households that purchase products for personal consumption.
Contents as Per Plan
- 3.1 Characteristics Affecting Consumer Behavior: This section explores the factors impacting consumer decision-making.
- 3.2 Types of Buying-Decision Behavior: This looks at different types of buying decisions based on consumer involvement.
- 3.3 The Buyer Decision Process: This details the five-stage process involved in consumer decision-making.
Introduction
- Consumer buyer behavior is the buying process of final consumers.
- A consumer market covers individuals and households who buy goods and services.
Model of Consumer Behavior
- The model shows the environment, buyer's black box, and buyer responses.
- The environment includes marketing stimuli (product, price, place, promotion), and other stimuli. These influence the characteristics.
- Buyer's characteristics are internal factors that influence how consumers interpret information.
- The buyer's decision process is the mental processes involved in a purchase decision process.
- Buyer responses include buying attitudes and preferences.
Factors Affecting Consumer Behavior
- Consumer purchases are affected by cultural, social, personal, and psychological factors.
- Marketers usually cannot control these factors; however, companies must still consider them when creating marketing strategies.
Characteristics Affecting Consumer Behavior
- Cultural: Culture is the most basic influence on consumer behavior. Values, perceptions, wants, and behaviors are often learned from family and other institutions.
- Subculture: Smaller groups within a culture differing in values (nationalities, religions, racial and geographic groups)
- Social Class: Societal categories with similar values, interests, and behaviors.
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Social Factors:
- Groups and Social Networks: Small groups, family, social roles and status heavily influence consumer decisions. Reference groups, to which someone does not belong, can also influence.
- Word of Mouth: Personal recommendations from friends and family can have strong effects on buying habits.
- Opinion Leaders: People who influence others' decisions due to knowledge or skills in specific areas.
- Family: The most important consumer buying organization in society, marketers research the family's roles and influences.
- Roles and Status: Consumers often purchase products that suit their role and status in various settings.
- Personal Factors: Factors like age, life cycle stage, occupation, economic situation, lifestyle, and personality shape buying decisions.
- Psychological Factors: These include motivation, perception, learning and beliefs/attitudes influencing how consumers react to marketing efforts.
Types of Buying Behavior
- Complex Buying Behavior: High involvement, significant brand differences (e.g., buying a car)
- Dissonance-Reducing Buying Behavior: High involvement, few perceived differences between brands (e.g., buying carpeting)
- Habitual Buying Behavior: Low involvement, few significant brand differences (e.g., buying table salt)
- Variety-Seeking Buying Behavior: Low involvement, significant perceived brand differences (e.g., buying cookies)
The Buyer Decision Process
- Need Recognition: The first stage, identifying a need or problem. Can be triggered by internal or external factors.
- Information Search: Consumers seeking information about products to satisfy their need. This includes external sources like family, friends, and advertising.
- Evaluation of Alternatives: Considering and evaluating different product options.
- Purchase Decision: Selecting a specific product or brand.
- Post-purchase Behavior: Evaluation of the product following the purchase, and how it meets expectations, or whether consumer satisfaction was met.
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