Consumer Behaviour

Consumer Behaviour

1. is the study of...1) how individuals, groups and organizations 2) select, buy, use and 3) dispose of goods, services, ideas or experiences to 4) satisfy their needs & wants

   • 1) how individuals, groups and organizations 2) select, buy, use and 3) dispose of goods, services, ideas or experiences to 4) satisfy their needs & wants

2. 1) Cultural Factors

   • Subcultures: Nationality, Religion, Race, Geography
   • 4 Cultural Dimensions differentiating countries, Hoefstede's Model
     • Individualism Vs. Collectivism
     • High Vs. Low Power Distance
     • Masculine Vs. Feminine
     • Weak Vs. Strong uncertainty avoidance
   • Major Social Classes: Upper, Middle, Lower

3. 2) Social Factors

   • Reference Groups
     • Exposure
     • Self-Concept
     • Conformity
   • Family
     • Users
     • Gatekeepers
     • Influences
     • Deciders
     • Buyers
     • Maintainers
   • Social Roles & Status
     • Overlaps with social class, each role carries a status

4. 3) Personal Factors

   • Age & Life Cycle
     • Youth, Getting Started, Builders, Accumulators, Preservers
   • Occupation & Economic Situation
   • Lifestyle & Values
     • Activities, Interests, Opinions (AIO)
     • Money vs Time Constrained, VALS
       • Ideals Motivation
         • Guided by beliefs & principles
       • Achievement Motivation
         • Strive for clear social position
       • Self-Expression Motivation
         • Action-oriented
   • Self Concept & Personality
     • Actual vs Ideal Self-Concept
     • Aaker's7 brand personalities model
       • Sincerity
       • Excitement
       • Competence
       • Sophistication
       • Ruggedness
       • Passion
       • Peacefulness

5. 4) Psychological Factors

   • Motivation
     • Freud's Theory
     • Maslow"s Hierarchy
     • Herzbery;s
   • Perception
   • Interpretation/Learning
   • Memory