Textbook Notes (363,183)
Canada (158,246)
MGMA01H3 (184)
Chapter 6

Chapter 6 - MGTB04 Good notes!

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University of Toronto Scarborough
Management (MGM)
Tarun Dewan

Chapter 6Consumer markets and consumer buyer behaviour What is consumer behaviourConsumer buyer behaviourthe buying behaviour of final consumers individuals and household that buy goods and services for personal consumption Consumer marketall individual and households who buys or acquire goods and service for personal consumptionMarketers can study actual consumer purchase to find out what they buy where and how much Consumer themselves dont know exactly what influence their purchase Central question lies how do we best design our marketing efforts to reach our consumers most effectivelyThe extended definition must be aware of a number of issues before during and after purchase to build brand loyalty and lasting relationships with their customersFactors affecting consumer behaviour Cultural factorsCulturethe set of basic values perceptions wants and behaviours learned by a member of society from family and other important institutions Canadian treasure freedom our beliefs in respect equality and fair treatmentCultural influence on buying behaviour may vary greatly from country to country Failure to adjust to these differences can result ineffective marketing and embarrassing mistakesSubculturesSubculturea group of people with shared value system based on common life experience and situations eg nationalities regions racial groups and geographic regions Many subculture make up important market segments and marketers often design product and marketing program tailored to their need Regional subculturegeographic features and climate have certainly shared regional character and personality Immigration The economy differencesFounding nations3 founding nations Aboriginal peoples the English and the French Different buying behaviour across Canada Ethnic consumersminorities immigrants Mature consumersdifferent age cohorts have distinct cultures Working age population today is dominated by older individuals but there are regional variations Baby boomers are entering into the mature consumer by 2015 as they are the wealthiest income and consumption than any other generation Has becoming an increase important market to focus on
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