International researchers follow the same steps but often face more and

International researchers follow the same steps but

This preview shows page 16 - 18 out of 53 pages.

International researchers follow the same steps but often face more and different problems. They have to deal with diverse markets in many different countries. They face scarcity on good secondary data, so they often just collect their own primary data. However, collecting secondary data internationally is hard. Most marketing research benefits both the sponsoring company and its consumers. However, the misuse can also harm or annoy consumers. Two major public policy and ethics issues are intrusions on consumer privacy and the misuse of research findings. Chapter 5: Consumer and Business Buyer Behavior Lesson Objectives Define consumer market, and create a simple consumer buyer behavior model (198-199) Describe the four factors that influence consumer behavior (1999-212) Describe the 5 steps of the buyer decision process (212-215) Outline the stages in the adoption process, and discuss the influence of the individual differences and products characteristics on new product adoption (215-218) Define business market, and explain how these markets differ from consumer markets (218-221) Describe 3 major types of buying situations (221-222) List the participants in the business buying process (222) Discuss the four major influences on business buyers (222-223) Describe the 8 stages of the business buying process (224-225) Discuss the growing trend of e-procurement (225-228) LO1 Consumer buyer behavior refers to the buying behavior of final consumers- individuals and households that buy goods and services for personal consumption. All of these final consumers combine to make up the consumer market. Consumers make many purchase decisions, and some of these are more complex than others. Marketers can study actual consumer purchases to find out what they buy, where, and how much. The extended definition of consumer behavior means that, in order to build brand loyalty and lasting relationships with their customers, marketers must be aware of a number of issues before, during, and after purchases. 16
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Characteristics affecting consumer behavior: Consumer purchases are influenced strongly by cultural, social, personal, and psychological characteristics. Culture is the most basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions. Marketers are always trying to spot cultural shifts so as to discover new products that be might wanted: ie health and fitness. Subculture, or groups of people with shares value systems based on common life experiences and situations ie: nationality, religions etc. Many marketers now embrace cross-cultural marketing which includes ethnic themes and cross-cultural perspectives within a brand’s mainstream marketing, appealing to consumer similarities across subcultures rather than differences. Social class is relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors. It’s determined by number of factors such as occupation, income, education, wealth and other variables. Social classes show distinct product and
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