Name: Argie G. Catambacan Class Code: MKTG 2265 (3-164)
Summary of Chapter 5: Consumer Markets and Consumer Buyer Behaviour
The consumer market consists of individuals and households that purchase or obtain goods and
services for personal use. The simplest model that they used is the stimulus-response model of buyer
behavior. According to this model, marketing stimuli: the (4 P’s) product, price, place, and promotion, and
other significant forces (economic, technological, political, cultural) enter the consumer “black box” and
produce specific responses. Once in the black box, these inputs make observable buyer responses, such as
product choice, brand choice, purchase timing, and purchase amount.
CHARACTERISTICS AFFECTING CONSUMER BEHAVIOR
There are various factors that influence consumers’ purchases: social, cultural, personal, and
psychological. First, “cultural factors” exert a broad and profound influence on consumer behavior.
Marketers need to understand the role played by the buyer’s culture, subculture, and social class. Culture
has a strong impact on consumer buying behavior, for it is the most basic cause of a person’s wants and
needs. It includes the fundamental values, needs, wants, preferences, perceptions, and behaviors observed
and learned by consumers from their nearby family members and other important people around them. Within
a cultural group, there also exist many subcultures. Each subculture provides a more specific identification of
members belonging to it. Hence, marketing programs should be prepared considering subcultures to tailor
