Textbook Notes (368,317)
Canada (161,798)
MGMA01H3 (184)
Chapter 6

Chapter 6 Notes

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Department
Management (MGM)
Course
MGMA01H3
Professor
Alison Jing Xu
Semester
Fall

Description
Chapter 6 Consumer Markets and Consumer Buyer Behaviour Notes What is Consumer Behaviour? consumer buying behaviour the buying behaviour of final consumersindividuals and households that buy goods and services for personal consumption, who make up the consumer market consumer market all the individuals and households who buy or acquire goods and services for personal consumption consumers vary tremendously in age, income, education level, and tastes and buy an incredible variety of goods and services consumers make many purchase decisions, and some are more complex than others marketers now recognize the study of consumer behaviour as an ongoing process that starts long before the consumer purchases a product or service and continues long after they consume the product or service Factors Affecting Consumer Behaviour Cultural Factors Culture culture set of basic values, perceptions, wants, and behaviours learned by person from family and other important institutions every group or society has a culture, and cultural influences on buying behaviour may vary greatly from country to country failure to adjust to these differences can result in ineffective marketing or embarrassing mistakes it should not be assumed, however, that culture is a homogeneous system of shared meaning, way of life, or unifying values marketers are always trying to spot cultural shifts to discover new products that might be wanted Subculture subculture a group of people with shared value systems based on common life experiences and situations subcultures include nationalities, religions, racial groups, and geographic regions many subcultures make up important market segments, and marketers design products and marketing programs tailored to them Social Class social class relatively permanent and ordered divisions in society whose members share similar values, interests, behaviours social class is not determined by a single factor, such as income or wealth or education, but is measured as a combination of occupation, income, education, wealth, and other variables in some social systems, members of different classes are reared for certain roles and cannot change their social positions marketers are interested in social class because people within a given social class tend to exhibit similar buying behaviour social classes show distinct product and brand preferences in areas such as clothing, home furnishings, leisure activity, vehicles Social Factors Groups and Social Networks broadly defined, reference groups are any external influence that serve as direct (face-to-face) or indirect points of comparison or reference in forming a persons attitudes or behaviour, which influence many small groups group 2 or more people who interact to accomplish individual or mutual goals groups that have a direct influence and to which a person belongs are called membership groups people are also influenced by reference groups to which they do not belong reference groups expose a person to new behaviours and lifestyles, influence the persons attitudes and self-concept, and create pressures to conform that may affect the persons product and brand choices opinion leader a person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others; the influentials or leading adopters online social networks online social communitiesrange from blogs, social networking websites, or even virtual worlds where people socialize or exchange information and opinions marketers are working to harness the power of these new social networks to promote their products and build closer customer relationships; they hope to use social networks to interact with consumers and become a part of their conversations and lives Family family members can strongly influence buyer behaviour the family is the most important consumer buying organization in society, and it has been researched extensively marketers are interested in the roles and influence of husband, wife, and children on purchase of different products and services Roles and Status a person belongs to many groupsfamily, clubs, organizations the persons position in each group can be defined in terms of both role and status a role consists of the activities people are expected to perform according to those around them each role carries a status reflecting the general esteem given to it by society people usually choose products appropriate to their role and status www.notesolution.com
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