Cheatography
https://cheatography.com
Consumer Buying Behavior refers to the actions taken (both on and offline) by consumers before buying a product or service.
This is a draft cheat sheet. It is a work in progress and is not finished yet.
Definition
Consumer buyer behavior |
Refers to the buying behavior of final consumers
[Individuals and households who buy goods and services for personal consumption] |
Consumer market |
Refers to all of the personal consumption of final consumers |
Model of Consumer Behavior
Factors Influencing Consumer Behavior
CULTURAL FACTORS
Culture |
Learned values, perceptions, wants, and behavior from family and other important institutions |
Subculture |
Groups of people within a culture with shared value systems based on common life experiences and situations |
Social classes |
Society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors |
Social classes measured by a combination of occupation, income, education, wealth, and other variables
SOCIAL FACTORS
Membership Groups |
Groups with direct influence and to which a person belongs |
Aspirational Groups |
Groups an individual wishes to belong to |
Reference Groups |
Groups that form a comparison or reference in forming attitudes or behavior |
PERSONAL FACTORS
Age and life-cycle stage |
Occupation affects the goods and services bought by consumers |
Economic situation includes trends in personal income, savings, interest rates |
Lifestyle |
Personality and self concept |
Definition
Lifestyle is a person’s pattern of living as expressed in his or her psychographics
PHYSIOLOGICAL FACTORS
1. Motivation |
A need that is sufficiently pressing to direct the person to seek satisfaction
Motivation research refers to qualitative research designed to probe consumers’ hidden, subconscious motivations* |
2. Perception |
The process by which people select, organize, and interpret information to form a meaningful picture of the world |
3. Learning |
The change in an individual’s behavior arising from experience and occurs through interplay of:
- drives
- stimuli
- cues
- responses
- reinforcement |
4. Belief... |
A descriptive thought that a person has about something based on:is a descriptive thought that a person has about something based on:
- knowledge
- opinion
- faith |
...and attidudes |
Describe a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea |
|
|
Types of Buying Decision Behavior
Buyer Decision Making Process
1. Need recognition |
Occurs when the buyer recognizes a problem or need triggered by:
– internal stimuli
– external stimuli |
2. Information search |
- Personal sources: family, friends
- Commercial sources: advertising, Internet
- Public sources: mass media, consumer organizations
- Experiential sources: handling, examining, using the product |
3. Evaluation of Alternatives |
How the consumer processes information to arrive at brand choices |
4. Purchase Decision |
The act by the consumer to buy the most preferred brand
The purchase decision can be affected by:
– attitudes of others
– unexpected situational factors |
5. Post Purchase Decision |
The satisfaction or dissatisfaction that the consumer feels about the purchase
Relationship between:
– consumer’s expectations
– product’s perceived performance
– Gap will determine level of satisfaction/disatisfaction
Cognitive dissonance is the discomfort caused by a post purchase conflict |
Customer satisfaction is a key to building profitable relationships with consumers to keeping and growing consumers and reaping their customer lifetime value
The Buyer Decision Process for New Products
Adoption process is the mental process an individual goes through from first learning about an innovation to final regular use.
|
