Consumer Markets & Consumer Buyer Behaviour

1. Consumer markets - final consumers combine 2 make up the consumer markets

2. Factors influencing consumer behaviour - social, personal, cultural & psychological

3. Brand personality is the specific mix of human traits that may be attributed to a particular brand such as sincerity, excitement, competence, sophistication & ruggedness

4. Psychological factors r motivation, perception, learning, beliefs & attitudes

5. Perception is the process by which ppl select, organize & interpret info 2 form a meaningful picture of the world from 3 perpectual processes- selective attention, selective distortion & selective retention

5.1. Complex buying behaviour - marketers must understand info-gathering & evaluation behaviour of high-involvement consumers

6. Variety-seeking buying behaviour is characterized by low consumer involvement but significant percieved brand differences.

7. Habitual-buying behaviour r not highly commited 2 any brands causing low-involvement products with few brands differences used in price & sales promotion 2 stimulate buying

8. Stages in Adoption processes r awareness, interest, evaluation,

9. Consumer buyer behaviour- buying behaviour of final consumers, individuals & households who buy goods & services 4 personal consumption

10. Environmental stimuli consists of the 4 P's ( products, promotions, price & place)

11. Aspirational groups r groups 2 which a consumer is not a member but aspires 2 join

12. Reference groups r groups that we refer 2 in making a purchase. They also serve as a comparison point

13. Online social networks r online communities where ppl socialize or exchange info & opinions

13.1. Opinion leaders is sometimes referred to as word-of-mouth or buzz

14. Lifestyles - a person's pattern of living as expressed in hia or her psychographics ( activities, interests, opinions)

15. Dissonance-reducing behaviour-the marketer's after sale communications should provide evidence & support 2 help consumers feel good about their brand choices