Consumer Buyer Behaviour
Chapter 5: Consumer Markets and Consumer Buyer Behaviour
Consumer buyer behaviour
- Refers to buying behaviour of final consumers (individuals & households that buy goods and services for personal consumption)
Consumer market
- Total number of final customers
Marketing stimuli consists of the 4Ps
1. Product
2. Price
3. Place
4. Promotion
As well as other major forces in the buyer’s environment
1. Economic
2. Technological
3. Political
4. Cultural
5. Social
Understand how stimuli are changed into responses inside the buyer’s black box, which contains:
1. Buyer’s characteristics – perception and reaction to stimuli
2. Buyer’s decision process
Consumer characteristics are strongly influenced by:
1. Cultural – Culture/Subcultural/Social Class
2. Social – Reference Groups/Family/Roles & Status
3. Personal – Age & Life/Economic Situation/Lifestyle/Personality & Self-Concept
4. Psychological – Motivation/Perception/Learning Beliefs & Attitudes
Marketers cannot control such factors but must take them into account.
Culture
- Most basic cause of a person’s wants and behaviour and is largely learned.
- Cultural influences vary greatly from country to country and a failure to adjust to these differences can result in ineffective and even embarrassing marketing and/or mistakes.
- Role and identifying of Cultural shifts
Subculture
- Groups of people with shared value systems based on common life experiences and situations that include nationalities, religions, racial groups and geographical regions that make up culture as a whole.
- Subcultures make up important market segments and it is essential for marketers to understand these needs e.g. gamers and mature consumers
E.g. Mature Consumers:
- Due to advances in longevity, people are redefining what the mature life stage and “…are having a second middle-age before becoming elderly” and marketers need to appeal to these consumers in a vibrant but authentic
Consumer buyer behaviour
- Refers to buying behaviour of final consumers (individuals & households that buy goods and services for personal consumption)
Consumer market
- Total number of final customers
Marketing stimuli consists of the 4Ps
1. Product
2. Price
3. Place
4. Promotion
As well as other major forces in the buyer’s environment
1. Economic
2. Technological
3. Political
4. Cultural
5. Social
Understand how stimuli are changed into responses inside the buyer’s black box, which contains:
1. Buyer’s characteristics – perception and reaction to stimuli
2. Buyer’s decision process
Consumer characteristics are strongly influenced by:
1. Cultural – Culture/Subcultural/Social Class
2. Social – Reference Groups/Family/Roles & Status
3. Personal – Age & Life/Economic Situation/Lifestyle/Personality & Self-Concept
4. Psychological – Motivation/Perception/Learning Beliefs & Attitudes
Marketers cannot control such factors but must take them into account.
Culture
- Most basic cause of a person’s wants and behaviour and is largely learned.
- Cultural influences vary greatly from country to country and a failure to adjust to these differences can result in ineffective and even embarrassing marketing and/or mistakes.
- Role and identifying of Cultural shifts
Subculture
- Groups of people with shared value systems based on common life experiences and situations that include nationalities, religions, racial groups and geographical regions that make up culture as a whole.
- Subcultures make up important market segments and it is essential for marketers to understand these needs e.g. gamers and mature consumers
E.g. Mature Consumers:
- Due to advances in longevity, people are redefining what the mature life stage and “…are having a second middle-age before becoming elderly” and marketers need to appeal to these consumers in a vibrant but authentic