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CHAPTER 5:Consumer Markets and Buyer Behavior 5-1 Define the consumer market and construct a simple model of consumer buyer behavior. Consumer buyer behavior: The buying behavior of final consumers— individuals and households that buy goods and services for personal consumption. Consumer market: All the individuals and households that buy or acquire goods and services for personal consumption.

● Word-of-mouth influence: The impact of the personal words and recommendations of trusted friends, family, associates, and other consumers on buying behavior. ● Opinion leader: A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others. ● Online social networks: Online social communities—blogs, online social media, brand communities, and other online forums—where people socialize or exchange information and opinions. 2. The family is the most important consumer-buying organization in society. 3. Role and status can be defined by a person’s position in a group. ● PERSONAL FACTOR: occupation, age and stage, economic situation, lifestyle, personality, and self-concept. ➔ Occupation affects the goods and services bought by consumers. ➔ Economic situations include trends in: ➔ the buyer’s age, life-cycle stage, occupation, economic circumstances, personality, and other personal characteristics that influence buying decisions ➔ Lifestyle: A person’s pattern of living as expressed in his or her activities, interests, and opinions.===> Consumer lifestyles: are also an important influence on purchase decisions ➔ Personality: The unique psychological characteristics that distinguish a person or group.
➔ It can be said that brands also have personalities. A brand personality is the mix of human traits that may be used to describe the brand. With five general brand personality traits: sincerity, excitement, competence, sophistication, and ruggedness. ● PSYCHOLOGICAL FACTOR: motivation, perception, learning, and beliefs and attitudes. ➔ A motive (or drive) is a need that is sufficiently pressing to direct the person to seek the satisfaction of the need. ➔ Motivation research refers to qualitative research designed to probe consumers’ hidden, subconscious motivations. ➔ Perception is the process by which people select, organize, and interpret information to form a meaningful picture of the world. ➢ Selective attention is the tendency for people to screen out most of the information to which they are exposed. ➢ Selective distortion is the tendency for people to interpret information in a way that will support what they already believe. ➢ Selective retention is the tendency to remember good points made about a brand they favor and forget good points made about competing brands ➔ Learning: Changes in an individual’s behavior arise from experience. ➔ Beliefs and Attitudes: A belief is a descriptive thought that a person has about something based on: knowledge, opinion, or faith. An attitude describes

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