What are the 4 factors affecting consumer behavior?
- Cultural
- Social
- Personal
- Psychological
What are some examples of cultural factors affecting consumer behavior?
- Values, perceptions and wants
- Subculture
- Social Class (occupation/income/education/wealth)
What are some examples of social factors affecting consumer behavior?
- Word of mouth: Opinion leaders/Online social Network
- Family (Influence from child/parents)
- Roles and status (expectation to perform)
What are some examples of personal factors affecting consumer behavior?
- Age & Life cycle
- Occupation (blue/white collar)
- Economic situation
- Lifestyle (AIO)
- Self-concept (VALs’)
What are some examples of psychological factors affecting consumer behavior?
- Motivation (Maslow’s)
- Perception (Using information to form picture)
- Learning (change in behavior due to exp)
- Beliefs and attitude (Knowledge and evaluation)
People that are motivated by achievements are _____ and _______.
Achievers and “Strivers”
People who are motivated by self-expression are _____ and _____.
“experiencers” and makers
What are the needs in Maslow’s law of hierarchy?
- self-actualization needs
- Esteem Needs
- Social Needs
- Safety Needs
- Psychological Needs
What are the needs in Maslow’s law of hierarchy?
- self-actualization needs
- Esteem Needs
- Social Needs
- Safety Needs
- Psychological Needs
What are the 4 different types of buying behaviour?
- Complex buying behavior
- Dissonance - reducing buying behavior
- Variety Seeking buying behavior
- Habitual buying behavior
What does complex buying behavior mean?
High involvement in purchase (Expensive) and can tell a difference among different brands
What does dissonance-reducing buying behavior mean?
High involvement in purchase (Expensive), but cannot tell any difference among the brands
What does habitual buying decision mean?
Low consumer involvement (cheaper) and cannot tell difference among other brands
What does variety-seeking buying behavior mean?
Low consumer involvement (cheaper), but can tell the difference among other brands
What are the 5 steps of buying decision process?
- Need recognition
- Information search
- Evaluate alternatives
- Purchase decision
- Post- purchase behavior
In buying decision process, need recognition is when ____________________
Buyers recognize a problem or need.
Some examples of sources for information search for making a buying decision are:
- Personal
- Commercial
- Public
- Experiential
In buying decision process, evaluation of alternatives means ________________
Consumers process information to arrive at brand choice
In buying decision process, your purchase decision may ultimately be affected by_______ and _________.
- Attitude of others
2. Unexpected situational factors
In buying decision process, the post purchase behavior depends on ______ and _________
- Consumer’s expectation
2. Product’s perceived performation
All major purchases will result in cognitive dissonance, what is that?
Buyer’s discomfort caused by post - decision confluct.
