3.2 The factors which influence consumer behaviourA large number of factors influence our behaviour. Kotler and Armstrong (2008) classify these as: Show
Below you will see Figure 1, which adapts the above factors to a health behaviour context, providing a model which also explicitly emphasises, together with cultural factors, other features such as the economic environment as an element of the wider social context.
 Source: Hastings (2007) Figure 1 The wider determinants of health behaviour As you can see, the immediate environment approximates to Kotler's social factors. Many studies of both commercial and social marketing emphasise the influence of family, friends and others on our decisions. Peer group pressure is an important influence and may be negative or positive. Figure 1 illustrates an approach known as social-cognitive theory which is based on the proposition that our behaviour is determined by both personal and environmental factors. Exhibit 8-1 Buying Influences and wise spending strategies What is one example of a wise purchasing strategy? What is comparison shopping? Comparison shopping It is the process of considering alternative stores, brands, and prices. A nonprofit organization whose member-owners may save money on certain products or services. Net Present Value of a Consumer Purchase Information about freshness or shelf life found on the package of a perishable product The use of a standard unit of measurement to compare the prices of packages of different sizes. How do you calculate Unit price? To calculate the unit price, divide the price by the number of units of, such as ounces, pounds, gallons, or number of sheets (for items such as paper towels and facial tissues). A partial refund of the price of a product. Exhibit 8-2 Wise Online buying Activities Covers only certain aspects of the product , such as parts or requires the buyer to incur part of the cost for shipping or repairs 1.) Warranty 2.) Express Warranty 3.) Full Warranty 4.) Limited Warranty 5.) Implied Warranty 1. A written guarantee from the manufacturer or distributor of a product that specifies the conditions under which the product can be returned, replaced, or repaired. 2. Usually in written form is created by the seller or manufacturer and has two forms: the full warranty and the limited warranty. 3.) States that a defective product can be fixed or replaced during a reasonable amount of time. 4.) Covers only certain aspects of the product, such as parts, or requires the buyer to incur part of the cost for shipping or repairs. 5.) Covers a product's intended use or other basic understandings that are not in writing. An agreement between a business and a consumer to cover the repair costs of a product.
Exhibit 8-3 A research-based approach for purchasing a motor vehicle Exhibit 8-4 Checking out a used car Exhibit 8-5 Extend vehicle life with proper maintenance Exhibit 8-6 Common auto repair scams Exhibit 8-7 Resolving Consumer Complaints Exhibit 8-8 Sample complaint e-mail The attempt by an impartial third party to resolve a difference between two parties through discussion and negotiation. The settlement of a difference by a third party whose decision is legally binding. A court that settles legal differences involving amounts below a set limit and employs a process in which the litigants usually do not use a lawyer. Ranges: Some states average 5k to 25k most states average 5-10k A legal action taken by a few individuals on behalf of all the people who have suffered the same alleged injustice. One of a network of publicly supported community law offices that provides legal assistance to consumers who cannot afford their own attorney. Gender, age, and occupation are all _____ factors that affect your buying decisions. The information on the label of some food products includes _____ dating that helps the consumer determine freshness. This is a one word answer. An express warranty is usually in writing, is created by the _____ the or manufacturer, and has two forms: _____ warranty and limited warranty. One of the best sources of information about the product you are considering buying is the Consumer Financial Protection Bureau independent testing organizations what the sales person says what the neighbors own independent testing organizations True or False: Lease payments are often less than loan payments. True False Which of the following are personal factors that could affect your daily buying habits? Inflation product safety Age Education Tax rates Occupation Gender Age Education Occupation Gender Product label on appliances includes information on operating _____ , to assist you in selecting the most energy-efficient models. True or false: One of the factors that influences the price of buying a used car is capitalized cost. False Exp: Factors include number of miles, features and options, conditions, and demand for the car. Capitalized costs refer to leasing and not buying. A full warranty states that a defective product can be fixed or _____ during a reasonable amount of time. Which of the following automobile costs are fixed costs? Oil Gas Repairs Interest on car loans Parking costs and tolls Depreciation Registration fees Insurance Interest on car loans Depreciation Registration fees Insurance The common sources of information regarding products during the pre-shopping phase include personal _____ , media, and independent testing agencies such as Consumer Reports. With an Internet _____ scheme, investors are promised that they will receive over $100,000 for an initial investment of approximately $100 as long as the investor sells "certificates" to at least three other people. A possible _____ of leasing an automobile is the smaller upfront cash outlay (i.e., security deposit). Gender, age, and occupation are all _____ factors that affect your buying decisions. The factors that influence the price of a used car include: capitalized cost number of miles demand for the model features and options sticker price condition number of miles demand for the model features and options condition Which of the following automobile costs are variable costs? Interest on car loans Oil Insurance Parking costs and tolls Repairs Gas Registration fees Oil Parking costs and tolls Repairs Gas True or false: Most businesses are concerned for their reputation and therefore correct legitimate complaints. True False True Reason: Most firms want to resolve customer issues as soon as possible to maintain a good reputation and to avoid being reported to organizations such as the Better Business Bureau. The typical foreign scam works via mail or e-mail and requests your _____ account number. In _____, a third party tries to settle a grievance, but the process is non-binding. Which of the following is not true concerning small claims court? You can generally sue for as much as $100,000 in small claims court You usually do not need an attorney in small claims court You can generally sue in small claims courts for amounts ranging between $2,500 and $5,000 You should use witnesses who can testify on your behalf in small claims court You can generally sue for as much as $100,000 in small claims court Most consumer complaints are resolved: with a lawsuit through a consumer action agency with the manufacturer at the original location Which of the following are examples of groups of people that might qualify for a class-action suit? Customers overcharged for a service People injured by a defective product Auto owners charged for unneeded replacement parts for their vehicles Customers who bought a product at its regular price only to have it go on sale the following month Patients who pay hundreds of dollars for non-generic drugs Customers overcharged for a service People injured by a defective product Auto owners charged for unneeded replacement parts for their vehicles When selecting a lawyer, questions about legal costs should focus on the way charges will be calculated, such as _____ fee, _____ rate, or contingency basis. In _____ , a third party tries to settle a grievance and the process is binding. Be cautious about offerings that seem too _____ to be _____ because they often are. Even if you win in small claims court, you will still need to hire an attorney. file a judgment. pay the debt. collect the funds. True or false: A person could choose not to participate in a class action suit and instead file an individual lawsuit. True False True Reason: A person is not required to join in a class action suit and can still sue on his or her own. When selecting a lawyer, the questions to ask focus on the lawyer's _____ with similar cases, how charges will be set, and when _____ is due. One strategy that will help you avoid deceptive business practices is to always do business with reputable companies that have a track _____ of satisfying customers. According to the video, _________________ is unplanned buying with little investigation of alternative stores, brands, or prices, whereas, _________________ is the process of considering alternative stores, brands, and prices. Comparison shopping; impulse buying Impulse buying, comparison shopping Influenced buying; substitute shopping Substitute shopping; influenced buying Influenced buying; opportunity shopping Impulse buying, comparison shopping According to the video, what is a way to practice wise purchasing strategies? Multiple Choice Consumers can choose a specific type of retailer in order to obtain better prices. Consumers can time their purchases in order to take advantage of sales. Consumers can utilize a purchasing agent to determine the best prices. Consumers can choose a specific type of retailer in order to obtain better prices and Consumers can time their purchases in order to take advantage of sales. Consumers can choose a specific type of retailer in order to obtain better prices, Consumers can time their purchases in order to take advantage of sales and Consumers can utilize a purchasing agent to determine the best prices. Consumers can choose a specific type of retailer in order to obtain better prices and Consumers can time their purchases in order to take advantage of sales. Chris is trying to decide which laundry detergent to purchase for his wife, Haley. Exhibit 1 is priced at $10.98 for 100 ounces. Exhibit 2 is priced at $13.97 for 150 ounces. What is the unit price of Exhibit 2? $9.31 per ounce $10.98 per ounce $0.09 per ounce $0.10 per ounce $0.11 per ounce $0.09 per ounce Exp: 13.97 / 150 = 0.0931 Which of the following is involved in step two of the flowchart in the video for wise online buying activities? Individuals should read labels and warranty information. Individuals should examine consumer review sites to see what others have said about a product or service. Individuals should make the purchase. Individuals should compare both brick-and-mortar stores and online merchants. Individuals should compare brands and features. Individuals should compare both brick-and-mortar stores and online merchants. All of the following are things to remember if you decide to purchase a product or service online based on the video, except: Individuals should search Google for discount offers on products or services. Individuals should search Google for free products and services. Individuals should use a secure buying website to protect against identity theft. Individuals should search Google for free shipping codes on products or services. Individuals should use a secure buying website to prevent a hacker from obtaining their credit or debit card information. Individuals should search Google for free products and services. According to the video, which of the following is involved in step four? Individuals should delete all emails from the company for future reference. Individuals should keep receipts, warranty information, and other documents for the product or service you purchased. Individuals should post on the company’s social media sites. Individuals should delete all emails from the company for future reference and Individuals should keep receipts, warranty information, and other documents for the product or service you purchased. Individuals should keep receipts, warranty information, and other documents for the product or service you purchased and Individuals should post on the company’s social media sites. Individuals should keep receipts, warranty information, and other documents for the product or service you purchased. Which of the following is an advantage of buying a car compared to leasing that is mentioned in the video? There are not any additional costs incurred for extra mileage. There is a small security deposit. There are lower monthly payments There are not any additional costs incurred for extra mileage, There is a small security deposit, and There are lower monthly payments None of the above is an advantage of buying a car that is mentioned in the video. There are not any additional costs incurred for extra mileage. Which of the following is a disadvantage of leasing a car that is mentioned in the video? A large down payment may be required. Individuals don’t have ownership in the vehicle and they must return it to the leasing company at the end of the lease. There are higher monthly payments. Individuals may not be able to afford the car they really want. All of the above are disadvantages of leasing a car. Individuals don’t have ownership in the vehicle and they must return it to the leasing company at the end of the lease. According to the end of the video, the decision to buy or lease an automobile is a __________________ decision. Relaxed Easy Obvious Straightforward Difficult All of the following are involved in the first step of the consumer complaint process discussed in the video, except: The consumer should provide a detailed explanation of the problem. The consumer should be pleasant, but firm and determined to find a solution. The consumer should return to the place of purchase and talk to an employee or manager. The consumer should not provide a suggested remedy for the problem. The consumer should not provide a suggested remedy for the problem. According to the diagram in the video, what is the title of step 3 in the consumer complaint process? Legal Action Consumer Agency Assistance Initial Communication Final Opportunity before Legal Action Communication with the Company Consumer Agency Assistance What are the steps in the consumer complaint process? 1.) Make the business aware of your dissatisfaction. 2.) Contact the company - usually by email. 3.) Talk to people at government, business, or consumer organizations and ask what additional steps you can take to resolve the problem. 4.) Ask the company to resolve the problem by using mediation or arbitration. What are some of the legal actions that consumers can take that are discussed in the video? Consumers can file or become a participant in a class-action lawsuit. Consumers can bring their claims to a small claims court. Consumers can consult with a lawyer. Consumers can bring their claims to a small claims court and Consumers can consult with a lawyer Consumers can file or become a participant in a class-action lawsuit, Consumers can bring their claims to a small claims court, and Consumers can consult with a lawyer Consumers can file or become a participant in a class-action lawsuit, Consumers can bring their claims to a small claims court, and Consumers can consult with a lawyer Krista Lee can purchase a service contract for all of her major appliances for $250 a year. If the appliances are expected to last for 20 years and she earns 4 percent on her savings, what would be the future value of the amount Krista will pay for the service contract? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value: 7444.5 Future value of amount paid = Annual Amount*Future value annuity factor 250*29.778 = 7444.5 Assume Eric Sanchez saves $85 a month by using coupons and doing comparison shopping. (a) What is the annual savings amount? Annual savings amount: _____ (b) What would be the future value of this annual amount over 7 years, assuming an interest rate of 5 percent? Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value: 1020 * 8.142 = 8304.84 a. Annual savings amount: 1020 b. Brand A: port: 0.2 x 7 = 1.4 sound: 0.5 x 8 = 4 Warr: 0.3 x 7 = 2.1 1.4 + 4 + 2.1 = 7.5 Brand B: port: 0.2 x 10 = 2 sound: 0.5 x 6 = 3 Warr: 0.3 x 8 = 2.4 2 + 3 + 2.4 = 7.4 Brand C: port: 0.2 x 6 = 1.2 sound: 0.5 x 10 = 5 Warr: 0.3 x 7 = 2.1 1.2 + 5 + 2.1 = 8.3 Pierre Martina is comparing the cost of credit to the cash price of an item. If Pierre makes a $175 down payment and pays $39 a month for 24 months, how much more will that amount be than the cash price of $762? 349 39 x 24 = 936 + 175 = 1111 - 762 = 349 #17 Calculate the unit price of each of the following items: (Enter your answers as cents rounded to 1 decimal place.) 73 16 EMAIL PROFESSOR BULLSHIT #18 What would be the net present value of a microwave oven that costs $244 and will save you $77 a year in time and food away from home? Assume an average return on your savings of 8 percent for five years. Use Exhibit 1-D. (Round time value factor to 3 decimal places and answer to 2 decimal places.) 63.46 (-244 + (77x3.993)) = 63.46 a. 3596 b. 6826 c. 54 cents Exp1: 424 + 438 = 862 19300 miles / 24 mpg = 804.16 gallons x $3.40p/g 2734 2734 + 862 = 3596 Exp2: 3900+1450+1410+66 = 6826 Exp3: 3596 + 2734 10422 / 19300 = 0.54 a. 14,680 b. 16,802 Exp1: 2400 + [470 x 36] - 5000 = 14,320 + [ 2400 x 0.05 x 3] = 14800 (the three comes from 36/12 = 3) Exp2: [440 x 36] + 870 (end of lease) + [680 x 0.05 x 3] = 16,802 When comparing prices, remember that: less store convenience usually means higher prices. ready-to-use products have higher prices. large packages are always the best buy. “sale” always means saving money. unit pricing can be ignored. less store convenience usually means higher prices. Cooperatives are commonly organized to sell: Multiple Choice service contracts. furniture. auto repair service. food. information processing service. Margaret Wilson has a piece of paper that she can mail in to the manufacturer of the product that she just purchased. It allows her to get part of her purchase price back. What is she most likely using? Multiple Choice Coupon Rebate Warranty Indenture Service contract Which of the following is a social factor that would influence a consumer’s buying decision? Multiple Choice Hobbies Inflation Tax rates Gender Marital status federal law requires food labels to contain: Multiple Choice advertising phrases the company website unit price information ingredients and nutrients None of these ingredients and nutrients What type of warranty covers only certain aspects of the product, such as parts, or requires the buyer to incur part of the costs for shipping or repairs? Multiple Choice Limited warranty Full warranty Implied warranty Warranty of title Express warranty Item 7 Item 7 Item 7 Brian Williams has a piece of paper that he gives to the cashier when he purchases a grocery item that saves him a dollar off the cost of that item. What is he most likely using? Multiple Choice Coupon Rebate Warranty Receipt Promissory note Which type of purchasing strategy involves comparing unit prices? Multiple Choice Timing purchases Price comparison Label information Brand comparison Store selection An example of an economic factor that influences buying decisions would be: Multiple Choice family size. inflation. advertising. hobbies. lifestyle. Private label products are those that: Multiple Choice are sold as government surplus. require nutritional labeling information. provide freshness information on the package. are distributed by all national chain stores. are sold by one chain of stores. are sold by one chain of stores. Which of the following is not a national brand? Multiple Choice Green Giant Nabisco Kraft Samsung Great Value Open dating provides information on: Multiple Choice freshness. pricing. nutrition. common product use. government inspection. An implied warranty of merchantability guarantees that: Multiple Choice the buyer must pay for all warranty repair costs. the manufacturer must cover all warranty repair costs. a toaster must toast bread. a used car must come with a radio. a new car must come with a MP3 player. a toaster must toast bread. Lorenzo Cunningham has settled on purchasing a new Honda Accord and has found that the suggested retail price is $23,600 and that the dealer's invoice price is $21,500. It is time for him to go to a dealer and negotiate the price he will pay for his new car. What step in the purchasing process is Lorenzo carrying out? Multiple Choice Problem identification Information gathering Evaluating alternatives Determining the purchase price Post-purchase activities Determining the purchase price Which of the following is the largest fixed expense associated with a new automobile? Multiple Choice Insurance Gasoline Registration, license, and fees Parking Depreciation Gina Raffetto's car broke down on the way to work, and her mechanic has told her that the car cannot be fixed. Gina drives 30 miles one way to work each day. There is no reliable bus or train transportation that goes anywhere near her work. Gina decides she needs a car for reliable transportation to work. What step in the purchasing process is Gina carrying out? Multiple Choice Problem identification Comparing financing alternatives Evaluating alternatives Determining the purchase price Post-purchase activities Which type of government agency provides educational programs to assist consumers with buying decisions? Multiple Choice Federal Consumers Union Underwriters Laboratories Consumer Reports National Highway Traffic Safety Administration Hector Ramirez has decided he needs a new car so that he has reliable transportation to work. He is getting recommendations from his friends as to what might be a good car to purchase. He is also looking at the Consumer Reports magazine to determine what they recommend as a safe, low maintenance car, and he has searched some websites on the internet as well. What step in the purchasing process is Hector carrying out? Multiple Choice Problem identification Information gathering Selecting vehicle options Determining the purchase price Post-purchase activities To determine the true cost of credit for a new car, consider both the finance charge and the: Multiple Choice APR. promotional gifts. free snacks in the show room. warranty period. customer service. Damian Walker just purchased a new vehicle. He is reading his owner's manual to know when he needs to take it in for its regular servicing at the dealer. He wants to make sure this car lasts a while. What step in the purchasing process is Damian carrying out? Multiple Choice Problem identification Information gathering Evaluating alternatives Determining the purchase price Post-purchase activities A credit purchase with 24 monthly payments of $87 and a down payment of $120 would have a total cost of: Multiple Choice $1,200. $1,287. $2,088. $2,208. $2,880. Arbitration differs from mediation in that arbitration: Multiple Choice involves government officials. requires the use of a lawyer. is only available in certain states. allows compromise through negotiation. is legally binding. Most consumer complaints are resolved by: Multiple Choice legal action. assistance from a government agency. contacting a company's headquarters. returning to the original sales location. obtaining help from an action line returning to the original sales location. Which of the following statements about a legal aid society is not true? Multiple Choice It provides legal assistance to people who cannot afford their own attorney. It is part of a network of community law offices. It provides legal assistance at minimal cost or without charge. It is a branch of the American Bar Association. It is a publicly supported organization. It is a branch of the American Bar Association. Recently, Jim Walker was on a bus tour in a mountainous area. The bus broke down forcing the group to stay overnight. Group members had to pay for their own hotel bills. Jim believes that the hotel cost for the group should be paid by the tour company. Which legal action would be most appropriate? Multiple Choice Small claims court Mediation Legal aid society Arbitration Class-action suit What are the 4 influences of consumer buying decisions?In general, there are four factors that influence consumer behaviour. These factors impact whether or not your target customer buys your product. They are cultural, social, personal and psychological.
What are the 5 social factors that affect buying process?In a general scenario, we've got five main factors that determine consumer behavior, i.e these factors regulate if a target customer purchases a product or not. These factors are namely Psychological, Social, Cultural, Personal, and Economic factors.
What are 3 factors that influence consumers purchasing decisions?Keeping that in mind, the following are three of the biggest factors that influence consumer purchasing decisions in today's digital age:. Product/Service Reviews.. Peer Recommendations.. Social Media.. What are the social influences on customers?Social factors represent another important set of influences on consumer behavior. Specifically, these are the effects of people and groups influencing one another through culture and subculture, social class, reference groups, and family.
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Which of the following is a social factor that could influence a consumers buying decision?
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