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INDIVIDUAL BUYER BEHAVIOUR INDIVIDUAL BUYER BEHAVIOUR Learning objectives After reading this chapter, you should be able to: • Define consumer buying behaviour. • Define the consumer market and construct a simple model of consumer buying behaviour. • Tell how culture, subculture and social class influence consumer buying behaviour. • Describe how consumers’ personal characteristics and primary psychological factors affect buying decisions. • Discuss how consumer decision making varies with the type of buying decision. • Explain the stages of the buying decision and adoption processes. INDIVIDUAL BUYER BEHAVIOUR Some key definitions Consumer buying behaviour: The buying behaviour of final consumers - individuals and households who buy goods and services for personal consumption. Consumer market – All the individuals and households who buy or acquire goods and services for personal consumption. Culture – The set of basic values, perceptions, wants and buhaviours learned by a member of society from family and other important institutions. Subculture – A group of people with shared value systems based on common life experiences and situations. Siocial classes – Relatively permanent and ordered divisions in a society whose members share similar values, interests and behaviours Membership groups – Groups that have a direct influence on a person’s behaviour and to which a person belongs. Reference groups – Groups that have a direct (face-to-face) or indirect influence on the person’s attitudes or behaviour. Aspiration group – A group to which an individual wishes to belong. Decision Making Unit – (DMU) –All the individuals who participate in , are influence, the consumer buyingdecision process. Initiator – The person who first suggests or thinks of the idea of buying a particular product or service. Influencer – A person whose view or advice influences buying process. Decider – The person who ultimately makes a buying decision or any part of it – whether to buy, what to buy, how to buy, or where to buy. Buyer – The person who makes an actual purchase User – The person who consumes or uses a product or service. Role – The activities a person is expected to perform according to the people around him or her. Status- The general esteem given to a role by society. Family Life cycle – The stages through which families might pass as they mature over time. Lifestyle – A person’s pattern of living as expressed in his or her activities, interests and opinions. Psychographics – The technique of measuring lifestyles and developing lifestyle classifications; it involves measuring the chief ALO dimensions (activities, interests, opinions). INDIVIDUAL BUYER BEHAVIOUR Some key definitions Personality: - A person’s distinguishing psychological characteristics that lead to relatively consistent and lasting responses to his or her own environment. Self-concept- Self-image, or the complex mental pictures that people have of themselves Motive drive) – A need that is sufficiently pressing to direct the person to seek satisfaction of the need. Perception – The process by which people select, organize and interpret information to form a meaningful picture of the world. Selective attention – The tendency of people to screen out most of the information to which they are exposed. Selective distortion – The tendency of people to adapt information to personal meanings. Selective retention- The tendency of people to retain only part of the information to which they are exposed, usually information that supports their attitudes or beliefs. Learning – Changes in an individual’s behaviour arising from experience. Belief – A descriptive thought that a person holds about something. Attitude – A person’s consistently favourable or unfavourable evaluations, feelings and tendencies towards an object or idea. Complex buying behaviour – Consumer buying behaviour in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands. Dissonance-reducing buying behaviour – Consumer buying behaviour in situations characterized by high involvement but few perceived differences among brands. INDIVIDUAL BUYER BEHAVIOUR Some key definitions • Habitual buying behaviour - Consumer buying behaviour in situations characterized by low consumer involvement and few significant perceived brand differences. • Variety-seeking buying behaviour – Consumer buying behaviour in situations characterized by low consumer involvement, but significant perceived brand differences. • Need recognition – The first stage of the buying decision process in which the consumer recognizes a problem or need. • Information search – The stage of the buyer decision process in which the consumer is aroused to search for more information; the consumer may simply have heightened attention or may go into active information search. FACTORS INFLUENCING INDIVIDUAL BUYER BEHAVIOUR • Personal/individual: income, age, gender, marital status. • Psychological:Personality, Perception, Motivation, Attitude. • Environmental: Political, economic, social, technological,& legal: • Marketing mix : Product, price, place, promotion, people, physical evidence and process. • Social: Culture, subculture, reference groups, FACTORS INFLUENCING INDIVIDUAL BUYER BEHAVIOUR FACTORS INFLUENCING INDIVIDUAL BUYER BEHAVIOUR Decision-making process: Decision-making process Problem recognition Information search Information evaluation/evaluation of alternatives Purchase decision Post-purchase evaluation