COMMERCE 2MA3 Study Guide - Midterm Guide: South Asian Canadians, Consumer Behaviour, Reference Group

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2MA3
• Professor: Bharat Vaishnav

Document Summary

Consumer behaviour: a process through which buyers make decisions. B= f(p,e) where behaviour(b) is a function of the interactions of personal influences (p) and pressures exerted by outside environmental forces (e). This model shows how we make purchase decisions and what influences those decisions. All of these factors influence us as we go through the stages of the decision-making process from problem-opportunity recognition to post-purchase evaluation. Every buying decision is influenced by external and internal factors- often by what consumers believe other expect of them. Culture: the values, beliefs, preferences, and tastes handed down from one generation to the next. It is the broadest environmental determinant of consumer behaviour, so marketers need to understand its role in consumer decision making, both here and abroad. Marketing strategies that work in one country might be ineffective in another. Cultural values may change, but core values do not. Individualism and collectivism, tolerance and acceptance, quality of life and peace.