ch4 - BUSI 1004 Marketing Instructor QIU Cheng Buyer...

Info icon This preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Buyer Behavior 4 BUSI 1004 Marketing Instructor: QIU Cheng 2 * Your marketing plan should be targeting at consumer buyer. boxshadowdwn Consumer buyer: individuals and households who buy goods and services for personal consumption. square6 Asia is regarded the most attractive consumer market with a population of 3.5 billion. e.g., Coca cola consumption annual growth rate 2001-2006 » US: -2.18% » Asia Pacific: 5.50% Buyer 3 Stimuli in the environment 4Ps Look inside buyer’s black box Buyer characteristics Types of buying decision & Buyer decision process Buyer Behavior Cultural Factors square6 Subculture Social Factors square6 Group square6 Family square6 Social roles Personal Factors square6 Life stage square6 Lifestyle Psychological Factors square6 Motivation square6 Perception square6 Learning square6 Attitude Overview 4 Buyer Characteristics: Cultural boxshadowdwn Culture are the set of basic values, perceptions, wants, preferences, and behaviors that are learned and shared among people in a society. square6 Culture contains smaller subcultures. boxshadowdwn Subcultures are groups of people within a culture with shared value systems. For example, square6 Cosplay square6 Punk rock circleright Potential target customers; inspiration for designing marketing program
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
5 Groups boxshadowdwn Membership groups are the actual groups to which a person belongs. boxshadowdwn Aspirational groups are groups to which an individual wishes to belong. circleright Influence choice of products that are visible to the group or the public Buyer Characteristics: Social 6 boxshadowdwn Opinion leaders in a group: People within a group with special skills, knowledge, personality, or other characteristics that can exert social influence on others. circleright Identify or create opinion leaders to spread the word through social network. circleright Use online social network: e.g., blog, facebook circleright Creating buzz is crucial circleright Lacking control Buyer Characteristics: Social 7 boxshadowdwn Opinion leaders in a group: People within a group with special skills, knowledge, personality, or other characteristics that can exert social influence on others. circleright Identify or create opinion leaders to spread the word through social network. circleright Use online social network: e.g., blog, facebook circleright Creating buzz is crucial circleright Lacking control Buyer Characteristics: Social 8 Family boxshadowdwn Husband-wife square6 Who make the decision? boxshadowdwn Kids square6 Spending on kids, e.g., From a US government report: a middle income family spends USD 221,000 (over HKD 1,700,000) raising a child till age 18.
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern