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13 Cards in this Set
- Front
- Back
Define consumer behaviour |
Behavioral patterns of decision making units directly involved in the purchase and use of products. This consists of overt and covert processes. |
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Determinants of consumer behaviour |
Individual factors Group factors |
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Consumer decision making process |
1. Problem recognition 2. Information search 3. Evaluation of possible alternatives 4. Decision on course of action 5. Post purchase behaviour |
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Types of consumer buying decisions and consumer involvement |
Routine response behaviour Limited decision making Extensive decision making |
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Goods and services can be described in terms of |
Level of consumer involvement Length of time to make a decision Cost of the goods and services Degree of information search Number of alternatives considered |
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Individual factors influencing consumer buying decisions |
Perception Motivation Learning Values, beliefs, attitude Personality and self conseption |
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Factors determining the level of consumer involvement |
Previous experience Interest Perceived risk of negative consequences Sitaution Social visibility |
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Social factors influencing consumer buying decisions |
Culture Reference group Opinion leaders Family Social class |
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Requirements for market segmentation |
Identifiable and measurable Substantial and sustainable Reachable Responsive |
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Concept of market segmentation subdivisions |
Consumer market Industrial market Resale market Government market |
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Steps to follow in market segmentation |
Identify needs Sort group needs into homogenous groups Select target markets Poston product within market segment |
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Criteria for market segmentation |
Geographic Psychographic Demographic Behavioral |
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Strategies for selecting target market |
Undifferentiated targeting - mass market philosophy Multi segment targeting--chose one or two segments and develop ideas for them Concentrated targeting--selected marketing niche |