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Ibs consumer markets and buying behaviour22july11
Ibs consumer markets and buying behaviour22july11
Ibs consumer markets and buying behaviour22july11
Ibs consumer markets and buying behaviour22july11
Ibs consumer markets and buying behaviour22july11
Ibs consumer markets and buying behaviour22july11
Ibs consumer markets and buying behaviour22july11
Ibs consumer markets and buying behaviour22july11
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Ibs consumer markets and buying behaviour22july11

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  • 1. Consumer markets and buying behaviour
  • 2. 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
  • 3. 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
  • 4. 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
  • 5. Actors in the buying process• Initiators• Influencers• Deciders• Buyers• Users
  • 6. The buying decision process• 5 stage modelProblem recognitionInformation searchEvaluation of alternativesPurchase decisionPost purchase behaviour
  • 7. Decision sets• Total set• Awareness set• Consideration set• Choice set• Decision
  • 8. 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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