Consumer Markets and Buyer Behaviour

These flashcards cover key concepts from the lecture on consumer markets and buyer behaviour, including definitions, processes, and influencing factors.

What is the definition of the consumer market?

The consumer market refers to all personal consumption of final consumers.

List the four major factors influencing consumer buyer behaviour.

Cultural factors, social factors, personal factors, and psychological factors.

What are the stages in the buyer decision process?

Need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase decision.

What does the adoption process for new products include?

Awareness, interest, evaluation, trial, and adoption.

Define culture in the context of consumer behaviour.

Culture refers to learned values, perceptions, wants, and behaviour from family and other important institutions.

What are the key characteristics of social classes?

Social classes are divisions in society whose members share similar values, interests, and behaviours, measured by occupation, income, education, wealth, and other variables.

What types of groups influence consumer behaviour?

Membership groups, aspirational groups, reference groups, and opinion leaders.

Describe the primary differences between complex buying behaviour and habitual buying behaviour.

Complex buying behaviour occurs when consumers are highly motivated due to significant brand differences, while habitual buying behaviour occurs with low involvement and minimal brand differences.

What are the three perceptual processes in consumer behaviour?

Selective attention, selective distortion, and selective retention.

How does personality affect consumer behaviour?

Personality influences consumers' consistent and lasting responses to their environment and can be reflected in brand personality.