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mktg chp5 - Marketing: An Introduction Chapter 5: Consumer...

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Marketing: An Introduction Chapter 5: Consumer and Business Buyer Behavior Consumer Markets and Consumer Buyer Behavior Consumer buyer behavior- the buying behavior 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 Model of Consumer Behavior Much of why consumers buy items is buried deep in their heads- marketers try to unlock those secrets to better understand consumers Things that stimulate the consumers “black box” (what happens in their mind that they’re not aware of) are: product, price, place, promotion, and economic, technological, political, and cultural forces and events Characteristics Affecting Consumer Behavior Cultural Factors o Culture Culture- the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions Marketers try to spot cultural shifts (such as the shift towards greater concern about health and fitness) to discover new products that might be wanted o Subculture Subculture- a group of people with shared value systems based on common life experiences and situations Different ethnic groups are very attractive subcultures to marketers, as well as mature consumers o Social Class Social class- relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors Measured by a combination of occupation, income, education, wealth, and other variables Social Factors o Groups Group- two or more people who interact to accomplish individual or mutual goals Reference groups are points of comparison in forming a person’s attitudes/ behavior and expose a person to new behaviors and lifestyles Opinion leaders- person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts influence on others Buzz marketing is used by enlisting/creating opinion leaders to spread the word about brands o Family Family members have a strong influence on what each other purchases o Roles and Status
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People usually choose products appropriate to their roles and status in society Personal Factors o Age and Life-Cycle Stage Tastes in food, clothes, etc are often age related There are now many unconventional stages such as single parents o Occupation Marketers try to identify occupational groups that have an above average interest in their products o Economic Situation Target markets often depend on economic situation, e.g. Timex vs. Rolex o Lifestyle Lifestyle- a person’s pattern of living as expressed in his or her activities, interests, and opinions Lifestyle profiles a person’s whole pattern of acting and interacting in the world, more then social class or personality can tell a marketer
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This note was uploaded on 04/10/2008 for the course MKTG 290 taught by Professor Zeno during the Spring '08 term at Ramapo.

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mktg chp5 - Marketing: An Introduction Chapter 5: Consumer...

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