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Consumer markets & Consumer buyer behaviour (MKT), Buzz marketing -…
Consumer markets & Consumer buyer behaviour (MKT)
Consumer buyer behaviour: buying behaviour of
final consumers
These final consumers
combine
--> consumer market
Final consumer: buy goods for personal consumption
Environment
Marketing stimuli
Product
Price
Place
Promotion
Buyer's black box
Characteristics
Decision process
Buyer responses
Buying attitudes & preferences
Purchases behaviour
Brand engagement & relationships
Factors
Cultural
Deep influence on consumer behaviour
Aware of the cultures in each market & adapt their marketing strategy
Subculture
Groups of people share value systems based on common life experiences
Social
Reference group
Expose a peson to new behaviours,...affect the person's product & brand choices
Membership group
Direct influence & where person belongs
Social networks
Tools help build & leverage rela with customers
The key: find online influencers who have strong networks of followers
Increase brand awareness & consumer engagement
Family
Members
Roles & Status
Psychological
Key decision roles
User
Buyer
Make actual purchase
Influencer
Decider
Make buying decision
Initiator
Consumer decision-making process (CDMP)
Need recognition
Imbalance between actual & desired states
Triggered by internal & external stimuli
Internal: human normal needs
External: Ads, review post, billboards
Tak to consumers when they are susceptible
Information search
Goal: reduce the uncertainty
Sources
Non-marketing controlled
Ex: personal experience, public sources
Marketing controlled
Evaluation of alternatives
Awareness set
Evoked set
Inert set
Inept set
Unawareness set
Use both objective (facts) & subjective (emotions)
Determine which attributes are most important
Purchase
Factors distort the intention to purchase
Unexpected situational factors
Attitudes of others & social desirability bias
Post-purchase behaviour
Involvement
Buzz marketing
Creating opinion leaders to serve as brand embassadors
Give free samples & ask customers for honest opinions