BUAD 332 Moon Exam 2 Questions & Answers Solved 100% Correct!!

consumer buying behavior - the buying behavior of people who buy goods and services for personal use. these people create the consumer market How do consumers respond to various marketing efforts the company might use? - central question for marketers Simple Model of Consumer Buying Behavior (3 categories) - 1. Marketing and other stimuli 2. Buyer's black box 3. Buyer's response Simple Model of Consumer Buying Behavior (marketing & other stimuli) - Market-product, place, price, promotion Other- economic, technological, social, cultural Simple Model of Consumer Buying Behavior (buyer's black box) - buyer's characteristics and decision process Simple Model of Consumer Buying Behavior (buyer's response) - buying attitude and preferences, purchase behavior: what the buyers buy when/where/how much, brand and company relationship behavior culture - MOST BASIC CAUSE OF A PERSON'S WANTS AND BEHAVIOR learned from family, church, school, peers, colleagues, etc. includes values, perceptions, wants and behaviors subculture - groups of people with shared value systems based on common life experiences ex. Hispanic, African American, LGBTsocial class - society's relatively permanent and ordered divisions whose members share similar values, interests, behaviors. this is measured by a combination of occupation, income, education, wealth social factors - groups, family, roles and status social factors (family) - most important consumer buying organization social factors (groups) - reference (opinion leaders) social factors (roles & status) - esteem given to role by society. role= expected activities post purchase - when does cognitive dissonance occur? business buyer behavior - which buyer behavior is more complex? personal factors (3) - 1. age and life cycle changes 2. occupation 3. economic situation buyer's black box (characteristics and decision process) ex. Buy ology video-sale signs create a lot of activity in emotional part of brain, what brain responses are going on when people are exposed to different types of things when shopping - what do marketers want to understand about buyer's response? buyer decision process (5 stages) - 1. need recognition 2. information search 3. evaluation of alternatives 4. purchase decision5. post-purchase behavior need recognition - when the buyer becomes aware of a difference between a desired state and an actual condition in which the individual may be unaware of the problem or need.