Chapter 5: Understanding Consumer and Business Buyer Behavior

Vocabulary flashcards covering consumer buyer behavior models, cultural, social, personal, and psychological factors, the buyer decision process, adoption stages, and B2B business buying situations based on Chapter 5 notes.

Consumer Buyer Behaviour

The buying behavior of final consumers—individuals and households that buy goods and services for personal consumption.

U.S. Consumer Market

A market consisting of over 327 million people consuming more than $12 trillion annually.

Consumer Black Box

The internal decision-making region of a consumer's head consisting of buyer characteristics and the buyer decision process, where stimuli turn into responses.

Culture

The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.

Subculture

A group of people with shared value systems based on common life experiences and situations, including nationalities, religions, or regions.

Hispanic American Subculture

A market segment of over 59 million consumers with strong family values who prefer family-friendly travel packages and are very active on social media.

Social Class

Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.

Membership Groups

Direct groups to which a consumer belongs, such as family, friends, and colleagues.

Reference Groups

Groups that serve as a direct or indirect point of comparison or reference in forming a person's attitudes or choices.

Opinion Leaders

People within a reference group who exert social influence on others due to expertise, special skills, knowledge, or charisma.

Word-of-Mouth (WOM)

Personal recommendations from consumers that are trusted more than commercial advertisements.

Personality

The unique psychological traits—such as self-confidence, sociability, and adaptability—that distinguish an individual or group.

Brand Personality Traits

Five specific human traits attributed to brands by Aaker: Sincerity, Excitement, Competence, Sophistication, and Ruggedness.

Motive (Drive)

A need that reaches a sufficiently high level of intensity to prompt an individual to take action to gain satisfaction.

Selective Attention

The tendency for consumers to screen out most of the overwhelming marketing information to which they are exposed.

Selective Distortion

The tendency of people to interpret information in a way that fits or supports their existing beliefs.

Selective Retention

The tendency of consumers to remember information that confirms their attitudes and past experiences while forgetting competing points.

Learning

Changes in an individual's behavior resulting from experience, shaped by the interaction of drives, stimuli, cues, responses, and reinforcement.

Beliefs

Descriptive thoughts that a person holds about hotels, destinations, products, or travel experiences.

Attitudes

A person's relatively consistent evaluations, feelings, and tendencies toward an object, idea, or brand.

Cognitive Dissonance

Buyer discomfort caused by post-purchase conflict after making a purchasing decision.

New Product

A good, service, or idea that is perceived by some potential customers as new.

Adoption Process

The mental process through which an individual passes from first learning about an innovation to final regular adoption.

Awareness Stage

The initial stage in the adoption process where the consumer becomes aware of the new product but lacks detailed information.

Interest Stage

The second stage in the adoption process where the consumer actively seeks information about the new product.

Evaluation Stage

The third stage in the adoption process where the consumer considers whether trying the new product makes sense.

Trial Stage

The fourth stage in the adoption process where the consumer tests the new product on a small scale to estimate its value.

Adoption Stage

The final stage in the adoption process where the consumer decides to make full and regular use of the new product.

Business Buyer Behavior

The buying behavior of organizations that purchase goods and services to produce or resell hospitality and tourism services.

Straight Rebuy

A business buying situation involving a routine reorder of existing products or services without any modifications.

Modified Rebuy

A business buying situation in which the buyer wants to adjust product specifications, terms, prices, or switch suppliers.

New Task

A business buying situation where an organization purchases a product or service for the first time, requiring research and risk assessment.

Systems (Solutions) Selling

A buying preference where businesses purchase a complete, integrated solution to a problem from a single supplier.