Lo 5 cultural influence on consumer decision making

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LO 5: cultural influence on consumer decision making Of all factors that affect consumer decision making, cultural factors exert the broadest and deepest influence Culture: set of norms, values, attitudes, and other meaningful symbols that shape human behavior and the Artifacts, or products, of that behavior as they are transmitted from one generation to the next Values : the enduring beliefs shared by a society that a specific mode of conduct is personally or socially preferable to another mode of conduct Subculture : a homogenous group of people who share elements of the overall culture as well as cultural elements unique to their own group
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Social class : a group of people who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms LO 6: Social Influences on Consumer Buying Decisions Many consumers seek out the opinions of others to reduce their search and evaluation effort or uncertainty, especially as the perceived risk of the decision increases. Reference group : a group in society that influences an individual’s purchasing behavior Primary Membership Groups: a reference group with which people interact regularly in an informal, face-to-face manner, such as family, friends, and co-workers Secondary Membership Groups: a reference group with which people associate less consistently and more formally than a primary membership group, such as a club, professional group, or religious group Aspirational reference group : a group that someone would like to join Norm : a value or attitude deemed acceptable by a group Nonaspirational Refference Group : a group with which an individual does not want to associate Opinion Leader : an individual who influences the opinions of others Socialization Process : the passing down of cultural values and norms to children Instigator: suggest, initiate, or plant the seed for purchase process Influencers: those members of the family whose opinions are valued Decision Maker: the family member who actually makes the decision to buy or not buy Consumer: the actual user LO 7: Individual Influences on Consumer Buying Decisions A person’s buying decisions are also influenced by the personal characteristics that are unique to each individual, such as gender; age on life cycle stage; and personality, self- concept, and lifestyle. FINISH CH 6 --------------------------------------------------------------------------------------- Ch 7 Business Marketing LO 1: What is Business Marketing Business Marketing : the marketing of goods and services to individuals and organizations for purposes other than personal consumption. LO2: Business Marketing on the Internet Business-to-business electronic commerce : the use of the internet to facilitate the exchange of goods, services, and information between organizations Stickiness: a measure of a Web site’s effectiveness; calculated by multiplying the frequency of visits by the duration of a visit by the number of pages viewed during each visit (site search) Stickiness= Frequency x Duration x Site Search
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