• Consumer behaviour-is the process and influences on final consumers, individuals and households, who buy goods and services for personal consumption
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What is market offerings?
this is some combination of products, services, information, or experiences offered to customers to satisfy a need or want.
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What is marketing myopia?
this is focusing only on existing wants and losing sight of underlying consumer needs
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How do customers choose among these many market offerings:
• Customers form expectations about the value and satisfaction that various market offerings will deliver and buy accordingly. • Satisfied customers buy again and tell others • Dissatis
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What are the Characteristics Affecting Consumer Behaviour? (4)
cultural, social, personal, psychological
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culture
social class, subculture
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social
family, social media, roles and status
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personal
Age, occupation, economic status, personality and self concept
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Psychological
motivation, perception, beliefs and attitudes
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What are the types of buying decision behaviours?
complex, variety seeking and habitual
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Complex behaviour
– Complex products – Perceived risk – Personal / emotional significance e.g. cars and computers
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Habitual behaviour
Boring products, low cost, frequence purchase. e.g. toilet roll
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variety seeking behaviour
low incvolvemnt but significant difference between brands e.g. alcohol
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What is the perception of risk in the buying process (4)
economic risk, physical risk e.g. meat, performance risk, psychological risk e.g. feared loss of status
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What is the 5 step consumer decision making process? (1)
1. Marketing stimuli – problem (need) recognition
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What is the consumer decision making process? (2)
2. Online, sales pack – information sheet
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What is the consumer decision making process? (3)
3. Emphasis – evaluation of alternatives
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What is the consumer decision making process? (4)
4. Heuristics – purchase decision
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What is the consumer decision making process? (5)
5. satisfaction – post- purchase behaviour
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What is dissonance
opposite of satisfaction - usually experienced with expensive products
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What is the The Buyer Decision Process for New Products? (adoption process)
This is the mental process an individual goes through from first learning about an innovation to final regular use.
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What is the 5 step process of this? (2)
1. Awareness: The consumer becomes aware of the new product but lacks information about it. 2. Interest: The consumer seeks information about the new product.
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What is the 5 step adoption process of this? (2)
3. Evaluation: The consumer considers whether trying the new product makes sense. 4. Trial: The consumer tries the new product on a small scale to improve his or her estimate of its value
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What is the 5 step adoption process of this? (1)
5. Adoption: The consumer decides to make full and regular use of the new product.
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What is the 5 The Buyer Decision Process for New Products? (2)
1. Innovators are venturesome—they try new ideas at some risk. 2. Early adopters are guided by respect—they are opinion leaders in their communities and adopt new ideas early but carefully.
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What is the 5 The Buyer Decision Process for New Products? (2)
3. The early mainstream is deliberate—although they rarely are leaders, they adopt new ideas before the average person. 4. The late mainstream is skeptical—they adopt an innovation only after a majority of people have tried it.
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What is the 5 The Buyer Decision Process for New Products? (1)
5. Lagging adopters are tradition bound—they are suspicious of changes and adopt the innovation only when it has become something of a tradition itself.
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What does the adopter classification suggest?
it suggests that an innovating firm should research the characteristics of innovators and early adopters in their product categories and direct initial marketing efforts toward them
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Other cards in this set
Card 2
Front
What is market offerings?
Back
this is some combination of products, services, information, or experiences offered to customers to satisfy a need or want.
Card 3
Front
What is marketing myopia?
Back
Card 4
Front
How do customers choose among these many market offerings:
Back
Card 5
Front
What are the Characteristics Affecting Consumer Behaviour? (4)
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