Description
Garner, T. I., Safir, A., & Schild, J. (2020). Changes in consumer behaviors and financial well-being during the coronavirus pandemic: results from the U.S. Household Pulse Survey. Monthly Labor Review, 1–21. https://www.jstor.org/stable/26976377
Tanner, J. & Raymond, M.A. (2016). Principles of marketing.Open Textbooks for Hong Kong. Licensed under a Creative Commons by-nc-sa. Read online at: https://www.opentextbooks.org.hk/ditabook/16010
Read Chapter 3 and Chapter 4
Moura, T. (2020, June 16). Human personality: Understanding the “Big 5” Model. [Video] Tedtalk. Retrieved from
In the reading for unit three, you will learn about consumer buying behavior, business buying behavior and the similarities and differences between the two. Chapter Three discusses the consumers’ decision-making process and examines the situational, personal, psychological and societal factors that influence their buying decisions. Chapter Four provides an overview of business to business buying behavior. Topics discussed include ways B2B markets differ from B2C markets, types of B2B buyers, buying centers, and stages of the B2B buying process. The chapter wraps up with a discussion of international B2B markets, e-commerce and ethics in the B2B market. The combination of both provides marketers with a thorough understanding of buying behavior. You are also provided with a video of the Big 5 Model. Think about how understanding consumer behaviors can help marketers successfully target to their consumers personality type.
Discussion Forum
Instructions:
Review the material in Chapter Three on Consumer Behavior.
Using the five personality traits listed in the book, and considering Chapter 3 content, identify a few products and/or services that are more likely to be marketed successfully to consumers of each personality type.
For example, what products or services would someone who is extremely open to new experiences be likely to buy?
- Someone who never tries anything new?
What products appeal to someone who is outgoing? Shy?
