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

CH 6.docx

4 Pages
Unlock Document

Management (MGM)
Tarun Dewan

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


Join OneClass

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

Sign up

Join to view


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.