Family &
Household
Individual
Decision
Making
Group
Influences
Income
& Social
Class
Age Sub cultures
Family & Household for 1
FLC
Family & Household for 1
What is Family
Life Cycle
Family & Household for 2
This group is likely to spend their money on cars, fridges, cookers, life assurance, durable furniture, holidays
Family & Household for 2
What are Newly
Married Couples
Family & Household for 3
This person controls the flow of information to other members
Family & Household for 3
What are
Gatekeepers
Family & Household for 4
In this type of Decision making, the group agrees on the desired purchase differing only in terms of how it will be achieved.
Family & Household for 4
What is Consensual
Decision Making
Family & Household for 5
number of people (children and adults) in the family
the ages of the family members
Number of employed adults
Family & Household for 5
What are the critical
Consumption factors for families and households
Individual Decision
Making for 1
Individual Decision
Making for 1
What is Extended
Problem Solving
Individual Decision
Making for 2
The total demand for all brands in a product category
Individual Decision
Making for 2
What is primary demand?
Individual Decision
Making for 3
The immediate set of choices/brands that come to mind for purchase, plus products prominent in the environment
Individual Decision
Making for 3
What is the
Evoked set
Individual Decision
Making for 4
The place a product or service occupies in consumers' minds on important attributes relative to competitive offerings .
Individual Decision
Making for 4
What is Product
Positioning
Individual Decision
Making for 5
"rules of thumb" people use to make judgements and decisions, such as never buy a car in the first model year
Individual Decision
Making for 5
What are Heuristics
Group Influences for 1
These groups Influence a person’s values, beliefs, attitudes and behaviors. about
products and brands
What product attributes are important
What lifestyles are desirable
Group Influences for 1
What is a Reference
Group
Group Influences for 2
The Salesperson who compliments you on your wise purchase of a pair of pants has this sort of power
Group Influences for 2
What is reward power
Group Influences for 3
The type of function “the
Fonz” (Henry Winkler) of
Happy Days performed when he took out a library card in one episode of the show resulting in a 500% increase in library-card applications by
9-14 year olds.
Group Influences for 3
What is utilitarian function
Group Influences for 4
This type of informal communications about a business or its products can be either negative or positive and is often considered the most powerful of all marketing methods
Group Influences for 4
What is Word of
Mouth
Group Influences for 5
These central figures in
WOM communication are knowledgeable about products and their advice is taken seriously by others
Group Influences for 5
What are opinion
Leaders
Income & Social Class for 1
When the war with
Iraq started this took a nose dive
Income & Social Class for 1
What is consumer confidence
Income & Social Class for 2 relatively permanent strata in a society that are distinct subcultures
Income & Social Class for 2
What are social classes
Income & Social Class for 3
These conspicuously consumed goods are used to provide evidence of wealth
Income & Social Class for 3
What are status symbols
Income & Social Class for 4
This social class is often likely to approach consumption from a more aesthetic perspective than other classes
Income & Social Class for 4
What are the upper classes
Income & Social Class for 5
This occurs when consumers deliberately mock a trend by carefully selecting products and consumption patterns that are not the current fashion or style
Income & Social Class for 5
What is parody display?
Age Subcultures for 1
These people are of similar ages and have undergone similar experiences
Age Subcultures for 1
What is an age cohort
Age Subcultures for 2
This age group directly influences the spending of their parents. Indirectly influences the spending of their parents for necessities and also have substantial spending power of their own
Age Subcultures for 2
What are children
Age Subcultures for 3
Since university students have little time to watch TV one of the best ways to reach them is through these
Age Subcultures for 3
What are college/univ newspapers/ magazines
Age Subcultures for 4 one of the most affluent sections of the population, controlling over $7 trillion in wealth
Age Subcultures for 4
What are Baby
Boomers
Age Subcultures for 5
This market is motivated by connectedness, autonomy, altruism, and personal growth
Age Subcultures for 5
What is the Grey
Market