Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
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. |
|
|
Determinants of consumer behaviour |
Individual factors Group factors |
|
|
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 |
|
|
Types of consumer buying decisions and consumer involvement |
Routine response behaviour Limited decision making Extensive decision making |
|
|
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 |
|
|
Individual factors influencing consumer buying decisions |
Perception Motivation Learning Values, beliefs, attitude Personality and self conseption |
|
|
Factors determining the level of consumer involvement |
Previous experience Interest Perceived risk of negative consequences Sitaution Social visibility |
|
|
Social factors influencing consumer buying decisions |
Culture Reference group Opinion leaders Family Social class |
|
|
Requirements for market segmentation |
Identifiable and measurable Substantial and sustainable Reachable Responsive |
|
|
Concept of market segmentation subdivisions |
Consumer market Industrial market Resale market Government market |
|
|
Steps to follow in market segmentation |
Identify needs Sort group needs into homogenous groups Select target markets Poston product within market segment |
|
|
Criteria for market segmentation |
Geographic Psychographic Demographic Behavioral |
|
|
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 |
