Chapter 8: Buying Process & Buyer Behavior – Flashcards
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Customer Strategy
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carefully conceived plan that results in understanding the customer's perceptions and maximizing customer satisfactions and responsiveness
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3 Prescriptions of Customer Strategy
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- Understand buying process - Understand buyer behavior - Develop prospect base
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Consumer Buyer Behavior
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Buying behavior of individuals and household who buy goods and services for personal use - decision made by individual - quick decision based on emotional responsiveness to product - purchase based on brand reputation or personal recommendations
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Business buyer behavior
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refers to the organizations that buy goods for use in the production of other products that are sold, rented, or supplied to others - decision made by several people - may be a lengthy process - based on rational criteria - purchases made according to precise technical specification based on product expertise
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New-Task Buy
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First-time purchase of a product or service, typically requiring several weeks for decision for info gathering Salesperson practice consultative selling
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Straight Rebuy
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routine purchase of items needed by a business-to-business customer supplier meets price, quality, service, and delivery
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Modified Rebuy
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a situation where the customer wishes to modify product specifications, change delivery schedules, or renegotiate prices
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System Selling
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a form of strategic alliance that appeals to buyers who prefer to purchase a packaged solution to a problem from a single seller, thus avoiding the use of power, and makes decisions in a thoughtful and deliberate manner
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Habitual buying decisions
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decisions for frequently purchased, low-cost items the decision require little consumer involvement and brand differences are usually insignificant
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Variety Seeking Buying Decisions
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brand switching decisions characterized by low customer involvement but important perceived brand differences influenced by advertising appeals, coupons, or lower prices
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Complex Buying Decisions
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characterized by a high degree of customer involvement products may be expensive, purchased infrequently, and highly self expressive
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Buying Process
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a systematic series of actions or a series of defined, repeatable steps intended to achieve a result
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Steps of Buying Process
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1) Needs Awareness 2) Evaluation of Solution 3) Resolution of Problems 4) Purchase 5) Implementation
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Buyer Resolution Theory
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Selling theory that recognized a purchase will be made only after the prospect has made 5 buying decisions involving specific affirmative responses to the following: need, product, source, price time 1) why should i buy? 2) what should I buy? 3) where should I buy? 4) What is a fair price? 5) When should I buy?
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Maslow's Hierarchy of Needs
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1) Physiological: food, sleep, water, shelter 2) Security: free from danger & uncertainty 3) Social: identification w/ a group - approval from others 4) Esteem - feel worthy in eyes of others - personal worth 5) Self-Actualization - need for self fufillment
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group influences
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buyer behavior influenced by the people around us - the forces that other people exert on buying behavior.
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Role Influence
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influenced from a set of characteristics and expected social behaviors based on the expectations of others
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Reference Group Influences
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influence from the categories of people that you see yourself belonging to, and with which you habitually compare yourself
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Social Class Influence
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influence from society's relatively permanent and ordered divisions whose members share similar values, interests, and behavior
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Cultural Influence
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influence from the accumulation of of values, rules of behavior, forms of expression, religious beliefs, transmitted behavior patterns, and the like for a group of people who share a common language and environment
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Buying Motive
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an aroused need, drive, or desire that initiates the sequence of events that may lead to a purchase
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Emotional Buying Motive
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prompts the prospect to act because of an appeal to some sentiment or passion
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Rational Buying Motive
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Usually appeals to the prospect's reason or judgement based on objective thought processes
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Patronage Buying Motive
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causes the prospect to buy products from one particular business motives: superior service, product selection, competent sales people
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Product Buying Motive
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purchase one product in preference to another motives: brand, quality, price, design
