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HS 253 Factors that Influence Consumer Buyer Behavior Discussion

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HS 253

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INCLASS ASSIGNMENT

Question 5-1: Define the consumer market and describe the four major sets of factors that

influence consumer buyer behavior. Which characteristics influenced your choice when

deciding on the school you would attend? Are those the same characteristics that would

influence you when deciding what to do on Saturday night? Explain. (AACSB: Communication;

Reflective Thinking)

COSUMER MARKET:

The goods, products or services bought for personal use or consumption.

the four major sets of factors that influence consumer buyer behavior are following:

Cultural: Culture, subculture, social class

Social: Groups and social networks, Family and roles and status.

Personal: Age, occupation, economic situation, lifestyle and personality.

Psychological: Motivation, perception, learning, beliefs

The factors that influenced when deciding on school were psychological and personal factors, while

what was I going to do on Saturday was neither psychological but could be due to personal factor. As

what university I was going to attend was more important than what was I going to do on a Saturday

night.

Question 5-2 What is a total market strategy, and why do marketers use this approach?

Provide a recent example of a product or service that uses the total market strategy approach

and discuss the components that make it effective or ineffective. (AACSB: Communication,

Diversity, Reflective Thinking).

TOTAL MARKET STRATEGY:

Total Market strategy Integrating ethnic themes and cross-cultural perspectives within a brand’s

mainstream marketing, appealing to consumer similarities across subcultural segments rather than

differences.

Many marketers are finding that insights gleaned from ethnic consumer segments can influence their

broader markets, that is why they use it.

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The example of coca cola can be taken, they provide different taste, price for different

locations.

Question 5-3 What is subculture? Describe at least two subcultures to which you belong and

identify any reference groups that might influence your consumption behavior. (AACSB:

Communication; Diversity; Reflective Thinking)

SUBCULTURE:

Subcultures are “cultures within cultures” that have distinct values and lifestyles and can be based on

anything from age to ethnicity. Many companies focus their marketing programs on the special needs of

certain cultural and subcultural segment

-Reference Group:

They influence on person’s interest in purchasing different product or while deciding.

Social factors also influence a buyer’s behavior. A person’s reference groups—family, friends, social

networks, professional associations—strongly affect product and brand choices. The buyer’s age, life-

cycle stage, occupation, economic circumstances, personality, and other personal characteristics

influence his or her buying decisions. Consumer lifestyles—the whole pattern of acting and interacting in

the world.

5-4 Briefly describe the four psychological factors influencing consumer buyer behavior.

Explain their importance to marketers. (AACSB: Communication; Reflective Thinking)

PSYCHOLOGICAL FACTORS INFLUENCING CONSUMER BUYER:

our major psychological factors: motivation, perception, learning, and beliefs and attitudes. Each of

these factors provides a different perspective for understanding the workings of the buyer’s black box. -

Motivation:

Motive (drive) A need that is sufficiently pressing to direct the person to seek satisfaction of the need.

An example of an old man buying a convertible car just to feel young and independent again.

-Perception:

The process by which people select, organize, and interpret information to form a meaningful picture of

the world. People can form different perceptions of the same stimulus because of three perceptual

processes: selective attention, selective distortion, and selective retention.

Selective attention—the tendency for people to screen out most of the information to which they are

exposed

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Marketing HS253 INCLASS ASSIGNMENT Question 5-1: Define the consumer market and describe the four major sets of factors that influence consumer buyer behavior. Which characteristics influenced your choice when deciding on the school you would attend? Are those the same characteristics that would influence you when deciding what to do on Saturday night? Explain. (AACSB: Communication; Reflective Thinking) COSUMER MARKET: The goods, products or services bought for personal use or consumption. the four major sets of factors that influence consumer buyer behavior are following: Cultural: Culture, subculture, social class Social: Groups and social networks, Family and roles and status. Personal: Age, occupation, economic situation, lifestyle and personality. Psychological: Motivation, perception, learning, beliefs The factors that influenced when deciding on school were psychological and personal factors, while what was I going to do on Saturday was neither psychological but could be due to personal factor. As what university I was going to attend was more important than what was I going to do on a Saturday night. Question 5-2 What is a total market strategy, and why do marketers use this approach? Provide a recent example of a product or service that uses the total market strategy approach and discuss the components that make it effective or ineffective. (AACSB: Communication, Diversity, Reflective Thinking). TOTAL MARKET STRATEGY: Total Market strategy Integrating ethnic th ...
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Tags: cultural factors social factors market strategy approach Total Market strategy Consumer Buyer