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21 Cards in this Set

  • Front
  • Back

Cultural Factors

Culture, Subculture, Social Class

Culture

set of basic values and behaviours as learned from society

Subculture

shared value systems through common life experiences - chinese canadians, maritimers, aboriginals

Social Class

Permanent and ordered divisions whose members share similar values, interests and behaviours

Social Factors

Groups and Social Networks
Family


Roles and Status

Groups and Social Networks

Through interaction such as word of mouth or the power of opinion leaders, these groups are often the target markets as well.

Family

influence of husband, wife, and children. Who buys the items, women are not just the sole purchases of household items and men aren't the sole purchasers of tech and auto. How parents influence children and vice versa.

Roles and Status

choosing products according to the roles they fill in family, clubs, or organizations. i.e. hockey mom, brand manager, golfer

Personal Factors

Age and Life-cycle stage


Lifestyle
Occupation


Personality and Self-concept
Economic Situation

Age and Life-cycle phase

consumption patterns change over peoples lifetimes.

Occupation

People require different things for their line of work, i.e. work clothing

Economic Situation

personal income, savings, and interest rates. consumption change in recession or unemployment.

Lifestyle

Activities, interests, and opinions, i.e. surfing, environmentalism, travelling

Personality and Self-Concept

Traits that a buyer desires and uses to create their own self image- sincerity, excitement, competence, sophistication, and ruggedness

Psychological Factors

Motivation


Perception


Learning
Beliefs and Attitudes

Motivation

Following Maslow's Hierarchy of Needs - physiological, safety, social, esteem, and self actualization. The drive of purchasing decisions.

Perception

The way that we interpret the world around us through our senses. Selective Distortion and Selective Retention.

Perception - Selective Distortion

interpreting information in a way that reinforces what they already believe

Perception - Selective Retention

where consumers only remember the good points for the brands they favour

Learning

Changes through experience. Good previous experience leads to desire for repetition, and they will remember the brand name.

Beliefs and Attitudes

may be based on real knowledge, opinion, or faith. Consistent favourable or unfavourable feelings towards something. Very hard to change.