Chapter 7 Analyzing Consumer Markets and Buyer Behavior by.
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Transcript of Chapter 7 Analyzing Consumer Markets and Buyer Behavior by.
Chapter 7Chapter 7Analyzing Consumer Analyzing Consumer Markets and Buyer BehaviorMarkets and Buyer Behaviorbyby
In this chapter, we focus on two questions:In this chapter, we focus on two questions: How do the buyers’ characteristics – cultural, How do the buyers’ characteristics – cultural,
social, personal, and psychological – influence social, personal, and psychological – influence buying behavior?buying behavior?
How does the buyer make purchasing How does the buyer make purchasing decisions?decisions?
Chapter Objectives
Culture
Cultural Factors
Subculture
Social Class
BuyerBuyer
Social Factors
ReferenceGroups
ReferenceGroups
Roles &Statuses
Roles &StatusesFamilyFamily
Influences on Consumer Behavior
Personal InfluencesPersonal Influences
Age and Family Life Cycle Stage
Age and Family Life Cycle Stage LifestyleLifestyle
Occupation &Economic Circumstances
Occupation &Economic Circumstances
Personality & Self-Concept
Personality & Self-Concept
Psychological Factors
PerceptionPerception LearningLearning
Beliefs &AttitudesBeliefs &Attitudes
MotivationMotivation
Maslow’s Hierarchyof Needs
Psychological needs(food, water, shelter)Psychological needs(food, water, shelter)1
Safety needs(security, protection)
Safety needs(security, protection)
2
Social needs(sense of belonging, love)
Social needs(sense of belonging, love)3
Esteem needs(self-esteem, recognition)
Esteem needs(self-esteem, recognition)
4
Self-actualization
(self-developmentand realization)
Self-actualization
(self-developmentand realization)
5
Buying RolesBuying Roles InitiatorInitiator InfluencerInfluencer DeciderDecider BuyerBuyer UserUser
Buying behaviorBuying behavior
The Buying Decision Process
Types of Buying Behavior
ComplexBuying
Behavior
Dissonance-Reducing Buying
Behavior
Variety-SeekingBehavior
HabitualBuying
Behavior
Significantdifferences
betweenbrands
Fewdifferences
betweenbrands
HighInvolvement
LowInvolvement
Consumer Buying Process
ProblemProblemrecognitionrecognition
Informationsearch
Evaluation ofalternatives
Purchasedecision
Post purchasebehavior
Model of Buying Behavior
Buyer’s decisionprocess
Problem recognitionInformation searchEvaluationDecisionPost purchase behavior
Otherstimuli
EconomicTechnologicalPoliticalCultural
Buyer’scharacteristics
CulturalSocialPersonalPsychological
Buyer’s decisions
Product choiceBrand choiceDealer choicePurchase timingPurchase amount
Marketingstimuli
ProductPricePlacePromotion
TotalSet
Decision Making Sets
Aware-nessSet
Consid-eration
SetChoice
Set Decision
Chapter 8Chapter 8Analyzing Business Markets Analyzing Business Markets and Business Buying and Business Buying BehaviorBehaviorbyby
Objectives
How Business & Consumer Markets DifferHow Business & Consumer Markets Differ Organizational Buying SituationsOrganizational Buying Situations Participants in the Business Buying ProcessParticipants in the Business Buying Process Major Influences on Organizational BuyersMajor Influences on Organizational Buyers Business Buyer Decision MakingBusiness Buyer Decision Making Institutional & Government BuyingInstitutional & Government Buying
Business vs. Consumer
Fewer buyersFewer buyers Larger buyersLarger buyers Close supplier-customer relationshipClose supplier-customer relationship Geographically concentratedGeographically concentrated Derived demandDerived demand Inelastic demandInelastic demand Fluctuating demandFluctuating demand
Business vs. Consumer
Professional purchasing Professional purchasing Several buying influencesSeveral buying influences Multiple sales callsMultiple sales calls Direct purchasingDirect purchasing ReciprocityReciprocity LeasingLeasing
Invo
lved
Dec
isio
n M
akin
gIn
volv
ed D
ecis
ion
Mak
ing
Modified RebuyModified RebuyModified RebuyModified Rebuy
New Task BuyingNew Task BuyingNew Task BuyingNew Task Buying
Straight RebuyStraight RebuyStraight RebuyStraight Rebuy
UtilitiesOffice SuppliesBulk chemicals
New vehiclesElec. EquipConsultantsComputer equip.
Custom furnitureInstalled componentsBuildingsWeapon systems
Participants in the Business Buying Process
Gatekeepers
Initiators
Buyers
Influencers
Deciders
Users
Approvers
Major Influences on Industrial Buying Behavior
•Level ofdemand
•Economicoutlook
•Interest rate•Rate of techno-logical change
•Political andregulatorydevelopments
•Competitivedevelopments
•Social responsi-bility concerns
Environmental
•Objectives
•Policies
•Procedures
•Organizationalstructures
•Systems
Organizational
•Interests
•Authority
•Status
•Empathy
•Persuasive-ness
Interpersonal
•Age•Income•Education•Job position•Personality•Risk attitudes•Culture
Individual
BusinessBuyer
Problem RecognitionProblem Recognition
General Need DescriptionGeneral Need Description
Product SpecificationProduct Specification
Supplier SearchSupplier Search
Proposal SolicitationProposal Solicitation
Supplier SelectionSupplier Selection
Order Routine SpecificationOrder Routine Specification
Performance ReviewPerformance ReviewPostPost
PurchasePurchase
PurchasePurchase
InfoInfoSearch/Search/
EvalEval
NeedNeedRecognitionRecognition
Government MarketsGovernment Markets
Domestic SuppliersDomestic Suppliers
Open BidsOpen BidsCost MinimizationCost Minimization
Public ReviewPublic Review
PaperworkPaperwork