CHP3: Slides - Consumer Behaviour and Decision-Making Principles

Situational Factors

Includes the social situation, time, reason for purchase, and consumer's mood that influence buying behavior.

Situational Factors

Includes the social situation, time (day, year, or shopping duration), the reason for the purchase (emergency vs. planned), and the consumer's mood.

Personal Factors

Encompasses personality, self-concept, demographic variables (gender, age, stage of life), and lifestyle.

Psychological Factors

Includes motivation, perception, learning, and attitudes.

Societal Factors

Includes culture, subcultures, social class, reference groups, opinion leaders, and family.

What is Openness to Experience?

Creativity and willingness to try new things.

What is Conscientiousness?

Organization, responsibility, and discipline.

What is Extraversion?

Sociability and assertiveness.

What is Agreeableness?

Compassion and cooperation.

What is Neuroticism?

Emotional instability and anxiety.

What is Self-Concept?

How individuals perceive themselves and how they think others see them; influenced by age, education, culture, and relationships.

What is Psychographics?

Combines lifestyle traits, personality, attitudes, activities, and values to group similar consumers.

Values

Fundamental beliefs categorized into Instrumental values (desirable behaviors) and Terminal values (desirable end states).

Maslow’s Hierarchy of Needs

Theory that people fulfill basic needs (e.g., food, water) before higher-level needs.

Perception

The way interpreted information makes sense in the brain; managed by marketers through various filters.

Selective Exposure

Filtering information seen or heard.

Selective Attention

Filtering information based on relevance.

Selective Retention

Forgetting information that contradicts beliefs.

Selective Distortion

Misinterpretation of intended messages.

Learning

Changes in behavior resulting from information or experience.

Attitudes

Favorable or unfavorable evaluations ranging from Compliance (low) to Identification to Internalization (high).