MCS 1000 Study Guide - Final Guide: Swot Analysis, Oligopoly

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Vitali Alexeev

Document Summary

Family influences on consumer behavior result from 3 sources: consumer socialization, passage through the family life cycle, and decision making within the family: consumer socialization the process by which people acquire the skills, knowledge, and attitudes necessary to function as consumers, family life cycle the distinct phases that a family progresses through, from formation to retirement, each phase bringing with it identifiable purchase behaviors, family decision making spouse dominant and joint decision makings exist. Roles in the buying center: there are 5 roles: users the people in the organization who actually use the product or service, influencers affect the buying decision usually by helping define the, buyers formal authority and responsibility to select the supplier and specifications for what is bought negotiate the terms of the contract, deciders have the formal or informal power to select or approve the supplier that receives the contract, gatekeepers control the flow of information in the buying center.