Characteristics Affecting Consumer Behavior Word of mouth influence and buzz

Characteristics affecting consumer behavior word of

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Characteristics Affecting Consumer Behavior Word-of-mouth influence and buzz marketing Opinion leaders are people within a reference group who exert social influence on others Also called influentials or leading adopters Marketers identify them to use as brand ambassadors Groups and Social Networks
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Characteristics Affecting Consumer Behavior Online social networks are online communities where people socialize or exchange information and opinions Include blogs, social networking sites (facebook), virtual worlds (second life) Yub.com (For Shopaholics) Fuzzter.com(Pet Lovers) Jango.com(Match people who like the same Music) PassportStamp.com(Avid Travellers) Flixster.com (Movie Fans) Groups and Social Networks
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Characteristics Affecting Consumer Behavior Family is the most important consumer-buying organization in society Husband-Wife Relationships Women influence 65% of all new Car Purchase 91% of all new Home Purchases 92% of all Vacation Purchases Social Factors
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Social roles and status are the groups, family, clubs, and organizations that a person belongs to that can define role and social status Social Factors Characteristics Affecting Consumer Behavior
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Characteristics Affecting Consumer Behavior Age and life-cycle stage RBC Royal Band stages Youth—younger than 18 Getting started—18-35 Builders—35-50 Accumulators—50–60 Preservers—over 60 Personal Factors
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Characteristics Affecting Consumer Behavior Occupation affects the goods and services bought by consumers Blue Collar Workers tend to buy Rugged Cloths White Collar Worker tend to buy Business/Formal Clothing Economic situation includes trends in: Personal Factors Personal income Savings Interest rates
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Characteristics Affecting Consumer Behavior Lifestyle is a person’s pattern of living as expressed in his or her psychographics Measures a consumer’s AIOs (activities, interests, opinions) to capture information about a person’s pattern of acting and interacting in the environment Personal Factors
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Characteristics Affecting Consumer Behavior Personality and Self-Concept Personality refers to the unique psychological characteristics that lead to consistent and lasting responses to the consumer’s environment Brand Personality: Human Traits that may be attributed to a certain Brand Sincerity(down to earth, honest, wholesome, cheerful) Excitement(daring, spirited, imaginative, upto date) Competence(reliable, intelligent, successful) Sophistication (Upper Class and Charming) Ruggedness (Outdoorsy and Tough) Personal Factors
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Characteristics Affecting Consumer Behavior Jeep (Ruggedness), Apple (excitement),CNN (Competence), Dove (Sincerity) Self Concept: Also referred to as the Self Image, people’s possessions contribute to and reflect their identity We are, What we have To understand consumer behavior we must first understand the relationship between consumer self concept and possessions Personal Factors
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Characteristics Affecting Consumer Behavior Psychological Factors Motivation Perception Learning Beliefs and attitudes
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