Textbook Notes (368,875)
Canada (162,227)
MGMA01H3 (184)
Chapter

CH 6.docx

4 Pages
87 Views
Unlock Document

Department
Management (MGM)
Course
MGMA01H3
Professor
Tarun Dewan
Semester
Fall

Description
CH 6: Consumer Markets and Consumer buyer Behaviour  Consumer Buyer Behaviour- The buying behaviour of final consumers- individuals and households that buy goods and services for personal consumption. o Ongoing process that starts long before the consumer purchases a product or service and continues long after they consume it.  Marketers must be aware of a number of issues before, during, and after purchase to build brand loyalty and lasting relationships o Marketers need to know the 5 Ws of consumers why: not so easy  Consumer Market- All the individuals and households who buy or acquire goods and services for personal consumption.  Factors that affect consumer behaviour: interplay of cultural, social personal, and psychological factors. o Cultural Factors:  Culture- The set of basic values, perceptions, wants, and behaviour learned by a member of society from family and other important institutions.  Fail to recognize this leads to ineffective marketing or embarrassing mistakes  Marketers always look for cultural shifts discover new products that might be wanted  I.e. health awareness more health and fitness gears  Subculture- A group of people with shared value systems based on common life experiences and situations.  i.e. nationalities, religions, racial groups, and geographic regions\  Subculture in Canada: o Regional subculture o Founding nations o Ethnic subcultures o Mature consumers.  Social Class- Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviours.  Measured as a combination of occupations, income, deduction, wealth, and other variables.  Social factor: consumer’s small, groups, family, and social roles and status  Reference group- any external influence that serve as direct (face-to-face) or indirect points of comparison or reference in forming a person’ attitudes or behavior.  Group- two or more people who interact to accomplish individual or mutual goals.  Membership group- groups that have a direct influence and to which a person belongs  Family, friends, organizations  Aspiration group- one to which the individual wishes to belong  Reference groups expose a person to new behaviours and lifestyles, influence the person’s attitudes and self-concept, and create pressures to conform that may affect the person’s 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  Buzz marketing enlisiting or even creating opinion leaders to serve as “brand ambassadors” who spread the word about their products.  Online Social Networks- Online social communities-blogs, social networking websites, or even virtual worlds, where people socialize or exchange information and opinions.  Results are difficult to measure and control. Might fireback.  Person’s 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 carries a status reflecting the general esteem given to it by society. o Personal Factors:  Age and life-cycle stage  Occupation  Economic situation  Watch trends in personal income, savings and interest rates.  Lifestyle – a person’s pattern of living as expressed in his or her activities, interest, and opinions.  Measures consumers’ major AIO dimensions o Activities, interest, opinions  Personality and self-concept  Personality- the unique psychological characteristics that lead to relatively consistent and lasting responses to one’s own environment. o Self-confidence, dominance, sociability, autonomy, defensiveness, adaptability, and aggressiveness.  Brand Personality- the specific mix of human traits that may be attributed to a particular brand. o 5 traits: 1. Sincerity 2. Excitement 3. Competence 4. Sophistication 5. Ruggedness o basic self-concept premise is that people’s possessions contribute to and reflect their identities o Psychological Factors:  Motivation  Motive (drive)- a need that is sufficiently pressing to direct the person to seek satisfaction of the need.  Motivation research- qualitative research designed to probe consumers’ hidden, subconscious motivations  2 most popular theories: o Sigmund Freud: assumed that people are largely unconscious about the real psychological forces shaping their behavior. People repress many urges but are not eliminated appear in dreams, neurotic and obsessive hehaviour.. o Abraham Maslow’s Hierarchy of Needs physiological needs, safety needs, social needs, esteem needs, and self-actualization needs  Perception- the process by which people select, organizes, and interpret information to form a meaningful picture of the world.  3 perceptual processes (resulted in different perception) o Selective attention- the tendency for people to screen out most of the information to which they are exposed- means that marketers must work especially hard to attract the consumer’s attentions. o Selective distortion- the tendency of people to interpret information in a way
More Less

Related notes for MGMA01H3

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit