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BUSI 406_Feb 3

BUSI 406_Feb 3 - Buyer Behavior BUSI 406 Session 7 Feb 3...

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Buyer Behavior BUSI 406 Session 7 Feb 3 2009
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5-2 BUSI 406 Spring 2010 Describe the consumer market and the major  factors that influence consumer buyer behavior. Identify and discuss the stages in the buyer  decision process. Describe the adoption and diffusion process for  new products. Define the business market and identify the  major factors that influence business buyer  behavior. List and define the steps in the business buying  decision process. Rest Stop:   Previewing the Concepts
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5-3 BUSI 406 Spring 2010 Consumer Buying Behavior Refers to the buying behavior of people who buy  goods and services for personal use. These people make up the  consumer market. The central question for marketers is: “How do consumers respond to various marketing  efforts the company might use?”
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5-4 BUSI 406 Spring 2010 Model of Buying Behavior Perceptions Attitudes Beliefs Product Choice Brand Loyalty Purchase timing Willingness to pay
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5-5 BUSI 406 Spring 2010 Factors Influencing Behavior Cultural factors:   Culture, subculture, social class Social factors: Reference groups, family, roles, and status Personal factors: Age/life-cycle, occupation, economic situation,  lifestyle, personality, and self-concept Psychological factors: Motivation, perception, learning, beliefs, attitudes
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5-6 BUSI 406 Spring 2010 Culture Culture is the  most basic cause  of a person’s  wants and behavior. Culture is learned from family, church, school,  peers, colleagues. Culture reflects basic values, perceptions, wants,  and behaviors. Cultural shifts create opportunities for new  products or may otherwise influence consumer  behavior.
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5-7 BUSI 406 Spring 2010 Subculture: Groups of people with shared value systems based  on common life experiences. Major subculture groups: Hispanic consumers African-American consumers Asian-American consumers Mature consumers Subculture
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5-8 BUSI 406 Spring 2010 Society’s relatively permanent and ordered  divisions whose members share similar values,  interests, and behaviors.
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