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Canada (162,359)
MGMA01H3 (184)
Chapter 6

Chapter 6-Consumer Markets and Consumer Buyer Behaviour

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Management (MGM)
Alison Jing Xu

Chapter 6 Consumer buyer behaviour: The buying behaviour of final consumers- individuals and households that buy goods, services for personal consumption Consumer Market: all individuals and households that buy or acquire goods and services for personal consumption Factors Affecting Consumer Behaviour: Cultural Factors: Culture: set of basic values, principles, wants and behaviours learned by a member of a society from family and other important institutions Subculture: group of people with shared value systems based on common life experiences and situations Social Class: relatively permanent and ordered divisions in a society whose members share similar values, interests and behaviours Social Factors: Group: two or more people who interact to accomplish individual or mutual goals opinion leader: a person in a reference group who because of special skills, knowledge, personality, or other characteristics, exerts social influence on others Online Social networks: online social communities: blogs, social networking websites, and even virtual worlds-where people socialize or exchange information or opinions Family: most important consumer buying organization in society Roles and status: people usually purchase products appropriate to their roles and status Personal factors: Age and life-cycle stage occupation economic situation lifestyle: a person's pattern of living as expressed in his or her activities, interests, and opinions personality: unique psychological characteristics that distinguish a person or group Psychological Factors: Motivation: Motive(drive): need that is sufficiently pressing to direct the person to seek satisfaction of a need Maslow's Hierarchy of needs: self actualization needs> esteem needs> social needs> safety needs>physiological needs Perception: the process by which people select, organize, and interpret info to form a meaningful picture of the world  selective attention: tendency for people to screen out most information they are exposed to  selective distortion tendency for people to interpret information in a way that s
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