LWS: Marketing Consumer & Business Buyer Behavior (ENG)

This lecture provides an in-depth examination of the various factors and processes that drive purchasing decisions in both consumer and business markets. It explores the complex landscape of the consumer market, highlighting how cultural, social, personal, and psychological factors, such as reference groups, lifestyle, and selective perception can influence the final buyer’s behavior. The material details the five-stage buyer decision process, ranging from problem recognition to post-purchase evaluation, and compares this to the more structured business-to-business (B2B) decision-making process. Additionally, the content defines the unique characteristics of business, reseller, government, and institutional markets, emphasizing the importance of managing customer expectations and value communication across all sectors.