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Transcript of 5 | 2Copyright © Houghton Mifflin Company. All rights reserved. Part Three Markets and Consumer...
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5 | 2Copyright © Houghton Mifflin Company. All rights reserved.
Part ThreeMarkets and
Consumer Behavior
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Chapter 5Consumer Buying Behavior
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5 | 4Copyright © Houghton Mifflin Company. All rights reserved.
Objectives
• Understand consumers’ level of involvement with product & describe consumer problem-solving processes
• Recognize stages of consumer buying decision process
• Explore situational influences of consumer buying process
• Understand psychological influences of consumer buying process
• Examine social influences of consumer buying process
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5 | 5Copyright © Houghton Mifflin Company. All rights reserved.
Types Of Markets
1) Consumer
2) Business
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5 | 6Copyright © Houghton Mifflin Company. All rights reserved.
Consumer Market
Purchasers and household members who intend to consume or benefit from the purchased products and do not buy products to make products.
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5 | 7Copyright © Houghton Mifflin Company. All rights reserved.
Buying Behavior
The decision processes and acts of people involved in buying and using products.
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5 | 8Copyright © Houghton Mifflin Company. All rights reserved.
Consumer Buying Behavior
The decision processes and purchasing activities of people who purchase products for personal or household use and not for business purposes.
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5 | 9Copyright © Houghton Mifflin Company. All rights reserved.
Level Of Involvement
An individual’s intensity of interest in a product and the importance of the product for that person.
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5 | 10Copyright © Houghton Mifflin Company. All rights reserved.
Levels Of Involvement
Enduring
Situational
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5 | 11Copyright © Houghton Mifflin Company. All rights reserved.
Consumer Problem Solving
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5 | 12Copyright © Houghton Mifflin Company. All rights reserved.
Routinized Response Behavior
The consumer problem-solving process used when purchasing frequently purchased, low-cost items needing very little search-and-decision effort.
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5 | 13Copyright © Houghton Mifflin Company. All rights reserved.
Limited Problem Solving
The consumer problem-solving process employed when buying occasionally or when they need to obtain information about an unfamiliar brand in a familiar product category.
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5 | 14Copyright © Houghton Mifflin Company. All rights reserved.
Extended Problem Solving
A consumer problem-solving process employed when purchasing unfamiliar, expensive, or infrequently bought products.
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5 | 15Copyright © Houghton Mifflin Company. All rights reserved.
Impulse Buying
An unplanned buying behavior resulting from a powerful urge to buy something immediately.
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5 | 16Copyright © Houghton Mifflin Company. All rights reserved.
Consumer BuyingDecision Process
A five-stage purchase decision process that includes problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation.
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Consumer Buying Decision Process/Possible Influences on the Process
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5 | 18Copyright © Houghton Mifflin Company. All rights reserved.
Problem Recognition
Difference between desired state and actual condition.
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5 | 19Copyright © Houghton Mifflin Company. All rights reserved.
Aspects Of Information Search
• Internal Search
• External Search
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Internal Search
An information search in which buyers search their memories for information about their products that might solve their problem.
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5 | 21Copyright © Houghton Mifflin Company. All rights reserved.
External Search
An information search in which buyers seek information from sources other than memory.
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Evaluation Of Alternatives
Consideration Set
Evaluative Criteria
Framing Alternatives
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Cognitive Dissonance
A buyer’s doubts shortly after a purchase about whether the decision was the right one.
Sample ads of cognitive dissonance
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Situational Influences
Influences resulting from circumstances, time, and location that affect the consumer buying decision process.
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Categories OfSituational Factors
Physical Surroundings
Social Surroundings
Time Perspective
Reason For Purchase
Buyer’s Mood/Condition
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Psychological Influences
Factors that in part determine people’s general behavior, thus influencing their behavior as consumers.
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Types Of Perception
Information Inputs
Selective Exposure
Selective Distortion
Selective Retention
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5 | 28Copyright © Houghton Mifflin Company. All rights reserved.
Motives
An internal energizing force that directs a person’s behavior toward satisfying needs or achieving goals.
Motive for buying organic foods
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5 | 29Copyright © Houghton Mifflin Company. All rights reserved.
Maslow’s Hierarchy Of Needs
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Sources Of Learning
Behavior Consequences
Information Processing
Experience
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Attitude
An individual’s enduring evaluation of feelings about and behavioral tendencies toward an object or idea.
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Components Of Attitude
Cognitive- knowledge or information
Affective- feelings or emotions
Behavioral- actions regarding object or idea
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5 | 33Copyright © Houghton Mifflin Company. All rights reserved.
Personality And Self-Concept
• Personality – internal traits and behavioral tendencies
• Self-Concept – perception or view of oneself
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5 | 34Copyright © Houghton Mifflin Company. All rights reserved.
Lifestyle
An individual’s pattern of living expressed through activities, interests, and opinions.
Consumer lifestyles
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Lifestyle Affected By:
• Age
• Education
• Income
• Social Class
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Role
Actions and activities that a person in a particular position is supposed to perform based on expectations of the individual and surrounding persons.
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Consumer Socialization
The process through which a person acquires the knowledge and skills to function as a consumer.
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Types Of Family Decisionmaking
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5 | 39Copyright © Houghton Mifflin Company. All rights reserved.
Reference Group
A group that a person identifies with so strongly that he or she adopts the values, attitudes, and behavior of group members.
Volvo and women’s market
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Types Of Reference Groups
1. Membership
2. Aspirational
3. Disassociative
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Opinion Leader
A member of an informal group who provides information about a specific topic to other group members.
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Examples OfOpinion Leaders And Topics
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5 | 43Copyright © Houghton Mifflin Company. All rights reserved.
Social Class
An open group of individuals with similar social rank.
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Social Class Behavioral Traits/Purchasing Characteristics
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Culture
The accumulation of values, knowledge, beliefs, customs, objects, and concepts of a society.
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Subcultures
A group of individuals whose characteristic values (religion, etc.) and behavior patterns are similar and different from those of the surrounding culture.
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U.S. Ethnic Subcultures
African American
Hispanic
Asian American