Consumer Markets and Consumer Buyer Behavior
Model of Consumer Behavior
Consumer buyer behavior : the buying behavior of final consumers, individuals and households, who buy goods and services for personal consumption
Consumer market : all of the personal consumption of final consumers
Characteristics Affecting Consumer Behavior
Factors Influencing Consumer Behavior
Culture is the learned values, perceptions, wants, and behavior from family and other important institutions
Subculture are groups of people within a culture with shared value systems based on common life experiences
and situations
Hispanic American
African American
Asian American
Mature consumers
Social classes are society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors
Measured by a combination of occupation, income, education, wealth, and other variables