BUAD 332 Exam 2 Chapters 5-8|160 Questions with 100% Correct Answers | Verified | Updated 2024

Chapter 5: Understanding Consumer and Business Buyer Behavior - ️️Chapter 5 consumer buying behavior - ️️The buying behavior of people who buy goods and services for personal use (these people make up the consumer market) How are consumers stimulated? - ️️Marketing: Price, product, place, promotion Environment: economic, technological, social, cultural How do consumers respond? - ️️With attitudes, preferences, relationships and behaving (buying stuff) Culture - ️️Most basic cause of a persons wants and behavior. Learned from family, church, school, peers, colleagues Subculture - ️️A group of people with shared value systems based on common life experiences and situations How can marketers be more successful when delivering value to customers? - ️️By understanding the nuances of cultures and subcultures What are the social factors? - ️️Groups ( membership ,reference (opinion leaders), aspirational) Family (most important consumer buying organizations) Roles & Status (role = expected activities, status = esteem give to role by society) What are the personal factors? - ️️age and life-cycle stage, occupation, economic situation