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NURS 332 EXAM 1 2025 LATEST UPDATE Fundamentals of Nursing
ALREADY GRADED A+ Texas Lutheran University
what is consumer buying behavior the buying behavior of people who buy goods and services for personal use. these people create the consumer market central question for marketers How do consumers respond to various marketing efforts the company might use?" simple Model of Consumer Buying Behavior (3 categories)
- Marketing and other stimuli 2. Buyer's black box3. Buyer's response Simple Model of Consumer Buying Behavior (marketing & other stimuli) Market-product, place, price, promotionOther- economic, technological, social, cultural Simple Model of Consumer Buying Behavior(buyer's black box) buyer's characteristics and decision process Simple Model of Consumer Buying Behavior(buyer's response) buying attitude and preferences, purchase behavior: what the buyers buy when/where/how much, brand and company relationship behavior Culture is the Most Basic Cause of a Person's Wants and Behavior. culture is learned from learned from family, church, school, peers, colleagues, etc.includes values, perceptions, wants and behaviors
define subculture
- Groups of people with shared value systems based on common life experiences. define social class society's relatively permanent and ordered divisions whose members share similar values, interests, behaviors. this is measured by a combination of occupation, income, education, wealth what are the three social factors groups, family ,roles and status social factors (family) define Most important consumer buying organization Most important consumer buying organization family social factors (groups) define Membership Reference (opinion leaders) Aspirational social factors (roles & status) define Role =Expected activities Status = Esteem given to role by society
personal source of information define explain? most effective source. family, friends neighbors. effect of social media commercial source of information explain advertising, salespeople. receives the most information from this source public source of information explain define mass media. consumer rating groupsexample: united airlines, dave carroll music-public source of information experiential source of information handling the product. examining the product, using the product. marketers must study buyers to find out how they do this evaluate alternatives buying decision process consumers may use careful calculation and logical thinking OR buy on impulse and rely on intuition. they may make decisions on their own OR after talking with others post-purchase behavior Consumer satisfaction is a function of consumer expectations and perceived product performance. performance<expectations disappointment
performance=expectations satisfaction performance>expectation delight Cognitive Dissonance a buyer's doubts shortly after a purchase about whether it was the right decision what do marketers want to do regarding buyer decision process Marketers want to INFLUENCE each of the steps, to the extent they can! how do marketers combat cognitive dissonance? 1 - 800 numbers, FAQs, and Web Feedback form Adoption Process The mental process through which an individual passes from first hearing about an innovation to final adoption stages of the adoption process (5)
- awareness2. interest3. evaluation4. trial5. adoption awareness stage of the adoption process stage in which the consumer becomes aware of the new product but lacks information about it interest stage of the adoption process stage in which the consumer seeks information about the new product evaluation stage of adoption process
communicability can is be easily observed or described to others? Business buyer behavior refers to the buying behavior of the organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others. Example: apple watchWhat is the relative advantage for how expensive it is??Compatibility- does well especially for those who already have an iphoneComplexity- hard to operate on a small screenDivisibility- can consumer try it out on a limited basis? example of the influence of product characteristics on rte of adoption market structure and demand for business markets contains far fewer but larger buyers. customers are more geographically concentrated. business demand is derived from human demand nature of the buying unit for business markets business purchases involve more decision participants. business buying involves a more professional purchasing effort what types of decisions do business buyers usually face? complex buying decisions what does the business buying process tend to be? more formalized what is the relationship between buyers and sellers in business buying? more dependent 3 types of buying situations
- straight rebuy2. modified rebuy3. new task straight rebuy the buyer routinely reorders something without considering alternative suppliers modified rebuy buyer wants to modify product specifications, prices, terms, or suppliers new task buyer purchases a product or service for the first time buying center decision making unit of a buying organization buying center members users, deciders, influencers, buyers, gatekeepers what do marketers need to understand? customers Whether the customers are end consumers, or business-to-business customers, what do marketers want to know? What the factors are that influence their choices?How do they make decisions? what do marketers want to know? how customers are likely to respond to their marketing actions 2 questions marketers need to know who is our customer? what do our customers think about when they think about us?
most popular basis for segmenting demographic example of gender segmentation french shampoo commercial for men (dove) income segmentation Identifies and targets the affluent for luxury goodspeople with low annual incomes can be a lucrative market example of income segmentation Some manufacturers have different grades of products for different markets. (toyota, scion, lexus) psychographic segmentation dividing a market into different groups based on social class, lifestyle or personality characteristics psychographic segmentation example pontiac aztec with 3 versions- extreme sports, camping version, tailgating version behavioral segmentation dividing buyers into groups based on consumer knowledge, attitudes, uses, or responses to a product factors of behavioral segmentation user status, usage rate, loyalty status user status nonusers, ex users, potential users, first time users, regular users
usage rate light, medium, heavy loyalty status brands, stores, companies what is the idea behind market segmentation? to select which customers we should direct our marketing activities to why should we use multiple segmentation bases? in order to identify better defined target groups The goal of market segmentation: Create a homogeneous customer group that might be a good target for marketing activity other segmentation methods business marketers can use operational characteristics purchasing approaches situational factors personal characteristics Requirements for Effective Segmentation (5) measurable, accessible, substantial, differentiable, actionable what factors are used to segment international markets? geographic location economic factors political and legal factors cultural factors Targeting selecting the market segments that will become the chosen targets of opportunity. the basic idea is to pick the segments from Step 1, to whom you plan to market your products or services.
micromarketing local or individual marketing. Tailoring products and marketing programs to suit the tastes of specific individuals and locations. example of undifferentiated targeting Ford model t4- sold to anyone and everyone- no variation example of differentiated marketing Gm 1925- chevrolet, buick, cadillac. Different products to appeal to different segments niche targeting type of targeting used when a company has minimal financial and HR resources local marketing Tailoring brands and promotions to the needs and wants of local customer groups—cities, neighborhoods, specific stores. individual marketing tailoring products and marketing programs to the needs and preferences of individual customers example of local marketing winn dixie has resort locations selling special items you would need while on vacation example of individual marketing amazon sends out emails advertising specific items that may be similar to products you have already purchased or may compliment products you have purchased factors to consider when choosing a targeting strategy (5)
- company resources2. product variability3. product's life-cycle stage4. market variability5. competitor's marketing strategies socially responsible targeting marketing sometimes generates controversy and concern when targeting vulnerable, minority or disadvantaged populations as well as children and teens example of socially responsible targeting Joe Camel-cartoon figure used by camel cigarettes, accused of using a cartoon figure/trying to appeal to childrenCereal industry- health organizations criticize them for targeting children with unhealthy productsMalt liquor- frequently pushed in urban neighborhoods(disadvantaged groups)- low cost, high alcohol concentration Positioning a product's position is the way a product is defined by consumers on important attributes. the place the product occupies in consumers minds relative to competing products. the basic idea is to figure out what the customer thinks about when they think about our brand example of positioning when you think of volvo, you always think of safety What is the key to winning target customers? understand their needs better than competitors do and to deliver more value what does choosing a differentiation and positioning strategy involve?
- choosing the right competitive advantage2. selecting an overall positioning strategy3. identifying a set of possible value differences and competitive advantages on which to build a position
why are services so hard to market? because they are so intangible services any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything levels of products and services
- core customer value2. actual product3. augmented product core customer value What the consumer is really buying. Remember! Customers buy benefits! actual product includes what Includes the brand name, features, design, packaging, and quality level. augmented product Additional services and benefits such as delivery and credit, instructions, installation, warranty, and service. industrial products Those purchased for further processing or for use in conducting business. what is the distinction between a consumer and industrial product? the purpose for which an item is purchased consumer product Products and services bought by final consumers for personal consumption. Also included are other marketable entities.
convenience goods Purchased frequently and immediately with little comparison shopping effort. low customer involvement, low priced, mass advertising and promotion examples of convenience goods candy, soda, newspapers shopping products Bought less frequently, more planning and effort, brand comparisons on basis of price, quality, style. higher price, selective distribution in fewer purchase locations examples of shopping products furniture, cars, appliances specialty products Strong brand preference and loyalty, special purchasing effort, little comparison shopping. high price, exclusive distribution examples of specialty products lamborghini, rolex unsought products Little product awareness or knowledge of the brand, sometimes negative interest Pricing strategies vary Distribution strategies vary examples of unsought goods life insurance, cemetery plots, blood donation
example of stretching toyota stretched downward by creating scion and stretched upward by creating lexus brands a name, term, sign, symbol, or design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors. what are the advantages to buyers of branding? helps identify products, cue to product quality and consistency what are the advantages to sellers of branding? Basis for product's quality story, provides legal protection, helps to segment markets brand equity Measures the brand's ability to capture consumer preference and loyalty. Is a valuable asset that offers many competitive advantages. Builds strong and profitable customer relationships that result in loyal customers. 4 major brand strategy decisions brand positioning, brand name selection, brand sponsorship, brand development brand sponsorship includes Manufacturer's brands, store brands, licensed brands ,co-branding what is another name for a store brand? private brand
example of licensed brands Power T logo is licensed on clothing, UT makes money each time it is purchased examples of co-branding Callaway has paired with Boeing to add some of their brand equity to Callaway's product. Taco bell's Dorito taco shells brand development line extensions, brand extensions, multibrands, new brands line extension Introduction of additional items in a given product category under the same brand name (e.g., new flavors, forms, colors, ingredients, or package sizes). Common, not risky example of line extension V8, known for tomato juice, released V8 tomato herb soup Multibranding Offers a way to establish different features and appeal to different buying motives. example of multibranding toyota added scion and lexus for people with higher and lower incomes new brands Developed based on belief that the power of its existing brand is waning and a new brand name is needed.Also used for products in new product categories for which none of the firm's existing brands are appropriate. 4 service characteristics intangibility, inseparability, variability, perishability
