Jo - Test 2 Review - Chapter 6: Final Consumers and Their...

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Chapter 6: Final Consumers and Their Buying Behavior - Economic Needs Affect Most Buying Decisions - Economic Buyers : people who know all the facts and logically compare choices to get the greatest satisfaction from spending their time and money o Most economists assume that consumers are this type of buyer - Economic Needs : needs concerned with making the best use of a consumer’s time and money, as the consumer judges it o Examples: 1) Economy of purchase or use; 2) convenience; 3) efficiency in operation or use; 4) dependability in use; 5) improvement of earnings - Psychological Influences within an Individual - Needs : the basic forces that motivate a person to do something - Wants : “needs” that are learned during a person’s life - Drive : a strong stimulus that encourages action to reduce a need o In marketing, a product purchase results from a drive to satisfy some need o Internal reasoning behind some behavioral patterns - 4 Level Hierarchy of Needs : o Physiological Needs : needs concerned with biological needs Examples: food, drink rests, and sex o Safety Needs : needs concerned with protection and physical well-being Examples: health, food, medicine, and exercise o Social Needs : needs concerned with things that involve a person’s interaction with others Examples: love, friendship, status, and esteem o Personal Needs : needs concerned with an individual’s need for personal satisfaction, unrelated to what others think or do Examples: self-esteem, accomplishment, fun, freedom, and relaxation - Motivation Theory : we never reach a state of complete satisfaction; as soon as we get our lower- level needs reasonably satisfied, those at higher levels become more dominant - Perception : how we gather and interpret information from the world around us - Selective Processes : o 1) Selective Exposure : our eyes and minds seek out and notice only information that interests us o 2) Selective Perception : we screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs o 3) Selective Retention : we remember only what we want to remember Current needs receive the most attention. - Learning : a change in a person’s thought processes caused by prior experience o Direct experience or indirect experience/associations o Almost all consumer behavior is learned. o The Learning Process : Reinforcement Drive Cues Response Our needs affect these selective processes. An effort to satisfy a drive; depends on the cues and the person’s past experience Stimuli in the environment that determine an individual’s specific response A strong stimulus which encourages action Occurs when response is followed by satisfaction (i.e., a reduction in drive)
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Repeated reinforcement leads to the development of a habit, making the individual’s decision process a routine. Many needs are culturally
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Jo - Test 2 Review - Chapter 6: Final Consumers and Their...

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