Consumer Markets and Buyer Behaviour

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Western University
Management and Organizational Studies
Management and Organizational Studies 2320A/B
Angela White

Consumer Markets and Buyer Behaviour292012 121800 PM Model of Consumer Behaviour y Consumer buyer behaviourrefers to the buying behaviour of final consumers individuals and households who buy goods and services for personal consumption y Consumer marketrefers to all of the personal consumption of final consumersFactors Influencing Consumer Behaviour y Culturethe learned values perceptions wants and behaviour from family and other important institutions y Subculturegroups of people within a culture with shared value systems based on common life experiences and situations y Social classessocietys relatively permanent and ordered divisions whose members share similar values interests and behaviours o Measured by a combination of occupation income education wealth and other variablesGroups and Social Networks y Membership groupgroups with direct influence and to which a person belongs y Aspirational groupsgroups an individual wishes to belong to y Reference groupsgroups that form a comparison or reference in forming attitudes or behaviour y Wordofmouth influence and buzz marketing o Opinion leaders are people within a reference group who exert social influence on others o Also called influentials or leading adopters o Marketers identify them to use as brand ambassadors y Online social networks are online communities where people socialize or exchange information and opinions o Include blogs social networking sites Facebook and virtual worlds second lifeSocial Factors y Family is the most important consumer buying organization in society
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