Please enter something

Chapter 8: Buying Process & Buyer Behavior

question

Customer Strategy
answer

carefully conceived plan that results in understanding the customer’s perceptions and maximizing customer satisfactions and responsiveness
question

3 Prescriptions of Customer Strategy
answer

– Understand buying process – Understand buyer behavior – Develop prospect base
question

Consumer Buyer Behavior
answer

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
question

Business buyer behavior
answer

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
question

New-Task Buy
answer

First-time purchase of a product or service, typically requiring several weeks for decision for info gathering Salesperson practice consultative selling
question

Straight Rebuy
answer

routine purchase of items needed by a business-to-business customer supplier meets price, quality, service, and delivery
question

Modified Rebuy
answer

a situation where the customer wishes to modify product specifications, change delivery schedules, or renegotiate prices
question

System Selling
answer

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
question

Habitual buying decisions
answer

decisions for frequently purchased, low-cost items the decision require little consumer involvement and brand differences are usually insignificant
question

Variety Seeking Buying Decisions
answer

brand switching decisions characterized by low customer involvement but important perceived brand differences influenced by advertising appeals, coupons, or lower prices
question

Complex Buying Decisions
answer

characterized by a high degree of customer involvement products may be expensive, purchased infrequently, and highly self expressive
question

Buying Process
answer

a systematic series of actions or a series of defined, repeatable steps intended to achieve a result
question

Steps of Buying Process
answer

1) Needs Awareness 2) Evaluation of Solution 3) Resolution of Problems 4) Purchase 5) Implementation
question

Buyer Resolution Theory
answer

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?
question

Maslow’s Hierarchy of Needs
answer

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
question

group influences
answer

buyer behavior influenced by the people around us – the forces that other people exert on buying behavior.
question

Role Influence
answer

influenced from a set of characteristics and expected social behaviors based on the expectations of others
question

Reference Group Influences
answer

influence from the categories of people that you see yourself belonging to, and with which you habitually compare yourself
question

Social Class Influence
answer

influence from society’s relatively permanent and ordered divisions whose members share similar values, interests, and behavior
question

Cultural Influence
answer

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
question

Buying Motive
answer

an aroused need, drive, or desire that initiates the sequence of events that may lead to a purchase
question

Emotional Buying Motive
answer

prompts the prospect to act because of an appeal to some sentiment or passion
question

Rational Buying Motive
answer

Usually appeals to the prospect’s reason or judgement based on objective thought processes
question

Patronage Buying Motive
answer

causes the prospect to buy products from one particular business motives: superior service, product selection, competent sales people
question

Product Buying Motive
answer

purchase one product in preference to another motives: brand, quality, price, design