Learning changes in an individuals behaviour arising from experience Occurs

Learning changes in an individuals behaviour arising

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Learning: changes in an individual’s behaviour arising from experience Occurs through the interplay of drives, stimuli, cues, responses and reinforcement Belief and attitudes Belief: a descriptive thought that a person holds about something Attitude: a person’s relatively consistent evaluations feelings and tendencies toward an object or idea LO2: Identify and discuss the stags in the buyer decision process LO3: Describe the adoption and diffusion process for new products Adoption process: the mental process through which an individual passes from first learning about an innovation to final adoption (decision to become a regular user of the product) o Stages: Awareness Interest Evaluation Trial Adoption
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Individual differences in innovativeness o Innovators o Early adopters: opinion leaders in their communities o Early mainstream adopters: deliberate – adopt new ideas before the average person o Late mainstream adopters: skeptical – adopt an innovation only after a majority of people have tried it o Lagging adapters: tradition bound Influence of product characteristics on rate of adoption o 5 characteristics are especially important in influencing an innovation’s rate of adoption: Relative advantage Compatibility Complexity Divisibility Communicability LO4: Define the business market and identify the major factors that influence business buyer behaviour Business buyer behaviour: the buying behaviour of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others o Business buying process: business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands Business markets o Main differences between business and consumer markets: Market structure and demand Far fewer but far lager buyers Business demand is a derived demand – ultimately derives from the demand for consumer goods Inelastic and more fluctuating demand Nature of the buying unit Purchase involves more decision participants and a more professional purchasing effort Types of decisions and the decision process involved More complex buying decisions Process tends to be longer and more formalized Buyer and seller are more dependent on each other Business buyer behaviour
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Major types of buying situations o Straight rebuy: the buyer reorders something without any modifications o Modified rebuy: buyer wants to modify product specifications, prices, terms, or suppliers o New task: the buyer purchases a product or service for the first time o Systems selling: buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation Participants in the business buying process o Buying centre: all the individual units that play a role in the purchase decision-making process Major influences on business buyers
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