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Marketing Exam Study!

        • Opinion leaders are a person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts influence on others

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              Marketers find ways to influence the opinion leaders

        • Family

        • Family members have a strong influence on buyer behaviour, marketers are interested in the roles and influence of the husband, wife, and children with the purchase of different products

        • Roles and Status

        • A person belongs to many groups: family, clubs, organizations

        • The persons position in each group can be defined as both role and status

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    Personal Factors

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      A buyer’s decisions are also influenced by personal characteristics such as the buyer’s age and life-cycle stage, occupation, economic situation, lifestyle, and personality and self-concept

      • Age and Life-Cycle Stage

        • People change preferences in goods and services they buy over lifetimes

      • Occupation

        • Peoples occupation affect the goods and services they buy, rich people and poor people buy different products

      • Economic Situation

        • A persons economic situation will affect product choice, so marketers watch trends in personal income, savings, interest rates,

        • Use economic indicators to point out recession and other situations

      • Lifestyle

        • A person’s patter of living as expressed in his or her activities, interests, and opinions

      • Personality and Self-Concept

        • Each person’s distinct personality influences his or her buying behaviour

        • Personality refers to the unique psychological characteristics that lead to relatively consistent and lasting responses to one’s own environment

        • The idea is that brands have personalities, and that consumers are likely to choose brands whose personalities match their own

        • Five brand-personality traits

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            Sincerity (down to earth, honest, wholesome, and cheerful)

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              Excitement (daring, spirited, imaginative, and up to date)

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              Competence (reliable, intelligent, and successful)

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              Sophistication (upper class and charming)

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              Ruggedness (outdoorsy and tough)

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    Psychological Factors

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        A persons buying choices are further influenced by four major psychological factors: motivation, perception, learning, and beliefs and attitudes

        • Motivation(drive)

        • A need that is sufficiently pressing to direct the person to seek satisfaction of the need

        • Maslow’s Hierarchy of Needs

        • Fig 6.3

        • Perception 14

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