Chapter 5: Consumer and Business Buyer Behavior

Define Belief

A descriptive thought that a person holds about something

Define Psychological Factor of Motivation

A motive is a need that is sufficiently pressing to direct the person to seek saFsfacFon

Define Attitude

A person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea

Define Lifestyle

A person's pattern of living as expressed in his or her activities, interests, opinions

Define Buying Center

All the individuals and units that participate in the business buying-‐‐decision process. The buying center is not a fixed or formally idenFfied unit. It is a set of buying roles assumed by different people for different purchases

What are the stages of Adoption Process?

Awareness, Interest, Evaluation, Trial, & Adoption

What is the key difference exist between business and consumer buying situation?

Business buyers usually face more complex buying decisions. The business buying process tends to be more formalized. Buyers and sellers are much more dependent on each other in business markets

What is the Nature of the Buying Unit?

Business purchases involve more decision partcipants. Business buying involves a more professional purchasing effort

What can be consider as Post-Purchase Behavior?

Consumer satisfaction is a function of consumer expectations and perceived product performance. If Performance is greater than Exception = Good, If Performance = Expectation = Satisfaction, If Performance is less than expectation = disappointment.

What are the factors influencing consumer behavior?

Cultural, Social, Personal, Psychological, & Buyer.

Why is Culture the most basic cause of a person wants and behavior?

Culture is learned from the society, family, and other instition. Culture reflects basic values, perceptions, wants, and behaviors. Cultural shifts create opportunities for new products or may otherwise influence consumer behavior

Explain the Evaluation of Alternatives and Purchase Decision

Evaluation process is dependent upon the specific buying situation and the individual consumers. Purchase Decision has two factors that may interfere with the purchase intention, which is Attitudes of Others, and Unexpected Situational Factor.

What does Family has on Social Factor among with their Roles & Status?

Family is strongly influences buying behavior. Gender stereotypes for certain types of purchases are relaxing in the U.S. Children are very influential, and have substantial disposable income of their own. Among that, Role = Expected Activities, Status = Esteem given to role by society.

What can Psychological factor in learning do?

It can changes in an individual's behavior arising from experience. Occurs due to an interplay of drives, stimuli, cues, responses, and reinforcement. It is strongly impacted by the consequences of an individual's behavior. Lastly, Behaviors with saFsfying results tend to be repeated

Why do people need recognition and information search?

It helps the need recognition can be triggered by internal or external stimuli. Several sources of information may be used as part of the information search. Such as Personal sources, Commercial sources, Public sources, Experiential sources.

What is Subculture, and define it?

It is a groups of people with shared value systems based on common life experiences and situations. Major subculture groups are Hispanic, African American, Asian American, Mature Consumer's.

What does Personality has to do with Personal Factor?

It refers to the unique psychological characteristics that distinguish a person or group. Generally defined in terms of traits. It can be useful in analyzing consumer behavior for certain product or brand choices. Among that some brands may also have personalitie

Explain the Major American Social Classes

Lower, Working, Middle, Upper Class's

What are some Social Factor in the Group/Social Network?

Membership, reference, and aspirational groups. The marketer tries to reach opinion leaders within groups important to target market. Opinion leaders are recruited as brand ambassadors or for buzz marketing

What is the Buyer Decision Process?

Need recognition, Information Search, Evaluation of Alternative, Purchase Decision, & Post purchase behavior.

What is E-Procurement?

Online purchasing (e-‐‐procurement) can be implemented in many ways: Reverse auctions, Trading exchanges, Company buying sties, Extranet links with key supplier. Among that E- procurement presents several benefits and problem.

What is a personal factor?

People within the same subculture, social class, and occupation may have different lifestyles. People buy the lifestyles represented by products or services

Explain Maslow's Hierarchy of Needs from Bottom to Top.

Physiological needs, safety needs, social needs, esteem needs, & Self-actualization needs.

What are the stages of Business Buying Process?

Problem Recognition, General Need Description, Product Specification, Suppler Search, Proposal Solicitation, Suppler Selection, order-Routine Specification, & Performance Review.

Define Psychological Factor of Perception

Process by which people select, organize, and interpret informaFon to form a meaningful picture of the world

Define Business Buyer Behavior

Refers to the buying behavior of the organizaFons that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others

What are some Product Characteristics that influences the Rate of Adoption?

Relative Advantage, Compatibility, Complexity, Divisibility, & Communicability.

Define Social Class

Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors

What are the types of Buying Situations?

Straight Rebuy (Buyer routinely reorders something without any modification), Modified Rebuy (Buyer wants to modify product specification, prices, terms, or suppliers), New Task (Buyer purchases a product or service for the first time), & System(Solution) Selling (Becoming more common among companies).

What is different about Business market to Consumer Market?

The business market involve far more dollars and items than do consumer markets.Market structure and demand differs from consumer market by, Contains far fewer but larger buyers, Business demand is derived from consumer demand, & Business markets have more fluctuating demand

Define Consumer Buying

The buying behavior of individuals and households who buy goods and services for personal consumption

What is the key to success?

Understanding customer needs and moFvaFons

Define Cognitive Dissonance

When after making a purchase, buyers often doubt whether they made the right decision. Marketers can minimize dissonance by: Reassuring consumers they made the right choice and minimizing the potential for product misuse (product literature and instructions).