Consumer Choices Purchasing Motives€¦ · More Lucrative Than Ever Top Influential Celebs of 2014...
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Consumer Choices Purchasing Motives Introduction to Business & Marketing
Transcript of Consumer Choices Purchasing Motives€¦ · More Lucrative Than Ever Top Influential Celebs of 2014...
Consumer Choices Purchasing MotivesIntroduction to Business & Marketing
Task 67
Describe how purchasing motives
impact consumer choices.
Motives to make purchases can be based on reasoning or emotion.
O Price
O Power
O Convenience
O Safety/Health
O Quality
O Style/Color
O Guarantee/Warranty
O Family or Peer Approval
O Celebrity Endorsement
Celebrity EndorsementsMore Lucrative Than EverTop Influential Celebs of 2014 (Forbes)
Beyonce
H&M, Pepsi
LeBron James
Nike, McDonald’s, Coke
Celebrities Create An Emotional Bond“If it’s good enough for a star, it’s good enough for me.”
Dr. Dre
Beats Headphones
Ellen DeGeneres
Cover Girl
How widespread is it?
O 25% of U.S. ads feature celebrities
O Only 16% in Europe
O Much higher in Asia – 70%
But there can be a downside…
O The endorsed brand/product tends to take
on the same negative traits as the celebrity
if bad PR happens.
Think About It…..
O Why might a customer have reason-based
motives for one purchase and emotion-
based motives for another purchase?
O Why is it important for a customer to
understand his or her buying motives before
making a purchase?
Whatever our motives for buying, we have a world of choices.
Task 68
Determine the best value among
products and services.
What to Buy?O Brand Name
O Trade name for a product or service produced by a
particular company.
O Generic Product
O Plainly labeled, unadvertised products that are
sold at lower prices than brand-name.
When to Buy?O Prices change during
different seasons.
O Buy at off-peak times
for better deals.
O Buy a convertible in the
fall or winter
O Buy Christmas
decorations after the
holiday
How Much to Pay?
O Comparison
shopping
O Consider prices,
features, and
benefits of
competing products
O The most
expensive is NOT
always the best!
Where to Buy?
O Department Stores
O Wide variety
O Offer brand names
O Good customer
service
O Higher prices O Discount Stores
O Wide variety
O Offer fewer services
O Buy large quantities
O Lower prices
Where to Buy?
O Outlet Stores
O Carry well known brand
names at bargain prices
O Big discounts
O Products may have flaws
O Products may be out of
season or discontinued
O Limited Line
Retailers(Specialty Stores)
O High level of service
O Much expertise
O Carry assortment of
goods in one product line
Where to Buy?
O Superstores
O Grocery store with
furniture, hardware,
books, clothes, etc.
O Convenience Stores
O Easy access to
products considered
necessities
O Limited product lines
Where to Buy?
O Warehouse Stores
O Huge store
O Huge selection of
items in bulk
O Shopping at Home
O TV
O Catalog
O Internet
Best Value
O Computer per unit cost.
O Compare sales.
O Research products among various types of
merchants (where to buy).
O Review warranties, guarantees and other
assurances.
O Follow basic steps for savvy shoppers –
timing your purchase, examine reviews.
Think About It!
O What resources are useful in researching
price comparisons? Product comparisons?
On Your Own…Download the Comparison Shopping activity
from VISION, and complete it electronically.
When finished, upload the Word document.
