What influences consumer behaviour?• Cultural factors- Culture; sub culture; social class• Social factors-reference groups; family; social roles and status• Personal factorsAge and stage in life cycleOccupation and economic circumstancesPersonality and self conceptLifestyle and values
Key psychological processesMotive: A need that is sufficiently pressing to drive a person to act.Freud: Psychological forces shaping people’s behaviour are largely unconscious.Maslow: Hierarchy of needsHerzborg: Dissatisfiers and satisfiers. Absence of dissatisfiers alone not enough
Key psychological processes• Perception: The process by which a person selects, organizes, and interprets information to create a meaningful picture of the world.• Can vary widely among individuals exposed to the same reality.• Selective attention/ distortion• Learning-change in behaviour arising from experience• Memory- associative network model-STM and LTM• Retrieval
Actors in the buying process• Initiators• Influencers• Deciders• Buyers• Users
The buying decision process• 5 stage modelProblem recognitionInformation searchEvaluation of alternativesPurchase decisionPost purchase behaviour
Other theories• Level of consumer involvement: High/ low involvement; Variety seeking behaviour• Decision heuristics and biasesi) The availability heuristicii) The representativeness heuristiciii) The anchoring and adjustment heuristicMental accounting
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