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1.5 MKT Consumer Markets and Buyer Behavior
Terms in this set (21)
Consumer Buyer Behavior
he buying behavior of individuals in households for personal consumption
-4 Major Factors That Influence Consumer Buyer Behavior
a set of basic values learned from family and other important institutions
-a group of people with shared value systems
-3 in USA, hispanic American, African American, and asian American
Total market strategy
Integrating ethnic themes and cross cultural perspectives in subcultures looking for similarities. If a marketer can find similarities among subcultures they don't have to make as many targeted ads.
Ordered divisions in a society whose members shares the same values interests and behaviors.
-a point of comparison informing a persons atitiude or behavior (ex, frat, church
a person in a reference group who experts influence (ex. priest)
Word of mouth Influence
the impact of a recommendation of trusted family or friends on buying behavior.
when u enlist established influencers to spread the word.
Online social networks
online social communities for people to socialize and exchange opinions.
The importance of family
never changed. family is the most important membership reference group we will ever belong to. 93% of parents surveyed said children influenced their buying decision making.
personal factors in what ppl buy
Age and Life Stage
Personality...how it translates to brands
Unless you take care of safety needs and physical needs the other needs doesn't matter
Selective Attention vs. distortion vs. retention
-selective attention= the ability to screen out most info
-selective distortion= our ability to support what we already believe
- selective retention= remember good things about the brands u like and forget good things about the brands you don't like.
the ability to screen out most info
our ability to support what we already believe
remember good things about the brands u like and forget good things about the brands you don't like.
Beliefs vs. Attitudes
belifs= descriptive thought that we hold about something. A BELIF CAN BE NEUTRAL (EXAM)
attitudes= persons relatively consistent thought about something. favorable or unfavorable.
Types of Buying Decisions (4 types)
1. Complex= high consumer involvement with significant differences among brands. Buy a house or car?
2.Dissonance Reducing= high involvement but precise no difference between brands. in this case u would buy cheapest thing.
3.Habitual= low involvement, little to no difference between brands.
4.Variety Seeking= low involvement with significant differences between brands. in this case consumer will switch a lot.
5 Stage Buyer Decision Process
1.Need recognition= when you recognize a problem has been triggered by a stimuli.
3.Evaluation of Alternatives= where the buyer attaches weights to different things in decision to buy
4.Purchase decision= where you buy the most preferred brand
5. Postpurchase behavior= where you take action based on satisfaction or dissatisfaction. Cognitive Dissonance= buyers remorse
Adopting new products...5 stages
1. Awareness= aware u have no information yet
2. Interest= when you seek info
3.Evaluation= when you consider weather to try a product
4.Trial= when you try on a small scale
5. Adoption= full and regular use
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