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42 Cards in this Set
- Front
- Back
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Chapter 6 |
Chapter 6 |
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Consumer buying behaviour |
the buying behaviour of individuals and households who buy goods and services for personal consumption |
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Culture |
the values, ideas, attitudes, and behaviours |
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Subcultures |
ethnic groups, age, and geography |
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Social Factors |
References groups and membership Aspirational groups Opinion Leaders Family |
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Role |
Expected activities |
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Status |
esteem given to role by society |
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Personal Factors |
- includes; age and life cycle stage, occupation, economic situation, lifestyle, personality - needs for different products change - job affects the products bought - personal finances affects buying choices - people buy the lifestyles products represent - self-concept theory suggests possessions contribute to and reflect personal identities |
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Motivation |
a motive is a need that is sufficiently pressing to direct the person to seek satisfaction |
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Maslow's Hierarchy of Needs |
Self-actualization esteem social safety physiological |
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Perception |
process by which people select, organize, and interpret information to form a meaningful picture of the world |
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Buyer Decision Process |
1. Need recognition 2. Information Search 3. Evaluation of alternatives 4. Purchase decision 5. Post purchase behaviour |
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Need recognition and information search |
- need recognition can be triggered by internal or external stimuli - advertising can be very helpful in stimulating need recognition |
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Parts of the information search |
- personal sources - commercial sources - public sources - experiential sources |
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Evaluation of alternatives and purchase decision |
evaluation process is dependent upon the specific buying situation and the individual consumers |
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Purchase decision factors |
- attitudes of others - unexpected situational factors |
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Post-Purchase Behaviour |
performance < expectations = disappointment performance = expectations = satisfaction performance > expectations = delight |
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Business Buyer Behaviour |
refers to the buyers behaviour of the organization that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others |
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Market Structure and demand differentiation from consumer markets |
- contains far fewer but larger buyers - business demand is derived from consumer demand - business markets have more fluctuating demand |
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Types Buying Situations |
- straight rebuy: buyer routinely reorders something without any modifications - modified rebuy: buyer wants to modify product specifications, prices, terms, or suppliers - new task: buyer purchases a product or services or service for the first time - systems (solution) selling: becoming more common among companies |
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Wrap-Ups |
- Categories of business and organizational customers - Multiple influence and roles in the buying center - types of b2b purchase decisions |
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Chapter 9 |
Chapter 9 |
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Branding |
- a name, term, sign, symbol, or design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors - customers attach meanings to brands and develop brand relationships |
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Emotional Branding |
- represents customers' feelings about a product - create emotional responses - inspire the same loyalty as love brands must produce: - products which consumers love - lovemarks which tell a memorable story |
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Brand Advocates |
- voluntarily promote brands - trust brands and companies behind them - love the brands they advocate |
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Human Brand |
- people are also brands - celebrities and politicians aim to achieve brand power in their name - but personal brands (like corporate brands) can be damaged as quickly as they were created |
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Brand Equity |
a financial value attributed to the brand based largely on intangible qualities |
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Brand Personality |
human attributes and the emotions they inspire toward customers |
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Brands elements |
- name - logo or icon (shape, colours, etc.) |
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Branding and Sponsorship |
- National Brands: products are marketed under the manufacturer's own name - Private Brands: Also named store brands: brands created and owned by a reseller of a product or service - Licensing: for a fee, companies use names and symbols created by other companies - Co-branding: occurs when two established brand names of different companies are used on the same product |
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4 Brand Development Strategies |
- line extension - brand extension - multi-brands - new brands |
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Chapter 11 |
Chapter 11 |
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Retailing |
All activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use |
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Types of Retailers Basis |
- amount of service they offer - breadth and depth of product lines - relative prices charged |
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Types of Retailers: Amount of Service |
- self-service: serve customers who are willing to perform their own locate-compare-select process - Limited-service retailers: provide more sales assitance as they carry shopping goods about which details are needed - Full-service retailers: usually carry more speciality goods for which customers need or want assistance or advice |
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Types of Retailers: Product Line |
- Speciality Stores: a retail store that carries a narrow product line with a deep assortment within that line - Department Stores: Retail store that carries a wide variety of product lines, each operating as a separate department separate department managed by specialist buyers or merchandisers - Supermarkets: a large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products |
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Types of Retailers: Product Line |
- Convenience Store: a small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods - Superstore: a store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, non-food items, and services - Category Killer: A giant specialty store that carries a very deep assortment of a particular line - Service retailer: a retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others |
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Types of Retailers: Relative Prices |
- Discount Stores: Sell standard merchandise at lower prices and margins, in return for higher volume - Off-Price Retailers: buy merchandise at less-than-regular wholesale prices sells at less than retail |
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Types of Off-Price Retailers |
- factory outlet: an off price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer's surplus, discontinued, or irregular goods - Warehouse Club: an off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees |
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Wholesaling |
all activities involved in selling goods and services to those buying for resale or business use |
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Merchant Wholesaler |
an independently owned wholesale business that takes title to the merchandise is handles - largest group of wholesalers - account for 50% of wholesaling - two broad categories: full-service and limited-service |
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Types of Wholesalers: Brokers/Agents |
- do not take title to goods - perform only a few functions - specialize by product line or customer type - brokers bring buyers and sellers together - agents represent buyers on a more permanent basis |
