The following will be discussed in this chapter: Influences on consumer behavior, data, organizational markets, buying behavior - organizational, marketing mix - international, marketing mix - small business. | Lecture 21 Influences On Consumer Behavior Study Of The Decision Process By Which People Buy And Consume products Influences On Consumer Behavior Psychological –motivation,perception,attitude Personal-lifestyle, personality, economic status Social-family, opinion leaders, friends Cultural Cultural – way of living that distinguishes one group from the other Subculture – smaller groups with shared values Social class – ranking of group based on occupation and income Weak affect of factors because of brand loyalty Buying Process Data Warehousing- Collecting, Storing, & Retrieving Data Mining- Searching, Sifting, & Reorganizing Data Organizational Markets Industrial – businesses that buy goods to be converted in to other products or goods that are used up during production Reseller – consists of intermediaries, who buy and resell finished goods Government/Institutional Buying Behavior- Organizational Buyer Differences Professional – trained for negotiating Specialist Experts Buyer-Seller Relationship Frequent enduring Marketing Mix- International Products- Redesign For Foreign Buyer Pricing- Cover Increased Cost Of Transport/Selling Distribution- Delays In Establishing Network For Startup Promotion- Cultural Differences Marketing Mix- Small Business Products- Limited Buying Market Pricing- Incorrect Cost Estimation Distribution- Location Is Critical Promotion- Local Which Is . | Lecture 21 Influences On Consumer Behavior Study Of The Decision Process By Which People Buy And Consume products Influences On Consumer Behavior Psychological –motivation,perception,attitude Personal-lifestyle, personality, economic status Social-family, opinion leaders, friends Cultural Cultural – way of living that distinguishes one group from the other Subculture – smaller groups with shared values Social class – ranking of group based on occupation and income Weak affect of factors because of brand loyalty Buying Process Data Warehousing- Collecting, Storing, & Retrieving Data Mining- Searching, Sifting, & Reorganizing Data Organizational Markets Industrial – businesses that buy goods to be converted in to other products or goods that are used up during production Reseller – consists of intermediaries, who buy and resell finished goods Government/Institutional Buying Behavior- Organizational Buyer Differences Professional – trained for negotiating Specialist Experts Buyer-Seller Relationship Frequent enduring Marketing Mix- International Products- Redesign For Foreign Buyer Pricing- Cover Increased Cost Of Transport/Selling Distribution- Delays In Establishing Network For Startup Promotion- Cultural Differences Marketing Mix- Small Business Products- Limited Buying Market Pricing- Incorrect Cost Estimation Distribution- Location Is Critical Promotion- Local Which Is Cheaper
