Consumer Markets and Consumer Buyer Behavior
Transcript of Consumer Markets and Consumer Buyer Behavior
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Chapter 5- slide 1
Chapter Five
Consumer Markets and Consumer Buyer Behavior
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Chapter 5- slide 2Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Consumer Markets and Consumer Buyer Behavior
• Model of Consumer Behavior• Characteristics Affecting Consumer
Behavior• Types of Buying Decision Behaviors• The Buyer Decision Process• The Buyer Decision Process for New
Products
Topic Outline
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Chapter 5- slide 3Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Consumer buyer behavior refers to the buying behavior of final consumers—individuals and households who buy goods and services for personal consumption
Consumer market refers to all of the personal consumption of final consumers
Model of Consumer Behavior
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Chapter 5- slide 4Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Model of Consumer Behavior
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Chapter 5- slide 5Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Factors Influencing Consumer Behavior
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Chapter 5- slide 6Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Culture is the learned values, perceptions, wants, and behavior from family and other important institutions
Characteristics Affecting Consumer Behavior
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Chapter 5- slide 7Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Subcultures are groups of people within a culture with shared value systems based on common life experiences and situations
• Bengalis• Gujaratis• Punjabis
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Chapter 5- slide 8Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Social classes are society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors
• Measured by a combination of occupation, income, education, wealth, and other variables
Characteristics Affecting Consumer Behavior
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Chapter 5- slide 9Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Groups and Social Networks
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Chapter 5- slide 10Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
• Word-of-mouth influence and buzz marketing– Opinion leaders are people within a
reference group who exert social influence on others
– Also called influentials or leading adopters
– Marketers identify them to use as brand ambassadors
Groups and Social Networks
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Chapter 5- slide 11Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
• Online Social Networks are online communities where people socialize or exchange information and opinions
• Include blogs, social networking sites (facebook), virtual worlds (second life)
Groups and Social Networks
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Chapter 5- slide 12Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
• Family is the most important consumer-buying organization in society
• The groups, family, clubs, and organizations that a person belongs to define his/her social role and status
Social Factors
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Chapter 5- slide 13Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
• Age and life-cycle stage• RBC Royal Band stages
– Youth: younger than 18– Getting started: 18–35– Builders: 35–50– Accumulators: 50–60– Preservers: over 60
Personal Factors
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Chapter 5- slide 14Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Occupation affects the goods and services bought by consumers
Economic situation includes trends in:
Personal Factors
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Chapter 5- slide 15Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Lifestyle is a person’s pattern of living as expressed in his or her psychographics
• Measures a consumer’s AIOs (activities, interests, opinions) to capture information about a person’s pattern of acting and interacting in the environment
Personal Factors
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Chapter 5- slide 16Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
• Personality and self-concept– Personality refers to the unique psychological
characteristics that lead to consistent and lasting responses to the consumer’s environment
Personal Factors
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Chapter 5- slide 17Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
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Chapter 5- slide 18Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Psychological Factors
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Chapter 5- slide 19Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
A motive is a need that is sufficiently pressing to direct the person to seek satisfaction
Motivation research refers to qualitative research designed to probe consumers’ hidden, subconscious motivations
Psychological FactorsMotivation
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Chapter 5- slide 20Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Maslow’sHierarchy of Needs
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Chapter 5- slide 21Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Perception is the process by which people select, organize, and interpret information to form a meaningful picture of the world from three perceptual processes– Selective attention– Selective distortion– Selective retention
Psychological Factors
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Chapter 5- slide 22Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Selective attention is the tendency for people to screen out most of the information to which they are exposed
Selective distortion is the tendency for people to interpret information in a way that will support what they already believe
Selective retention is the tendency to remember good points made about a brand they favor and forget good points about competing brands
Psychological Factors
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Chapter 5- slide 23Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
• Learning is the change in an individual’s behavior arising from experience and occurs through interplay of:
Psychological Factors
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Chapter 5- slide 24Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Belief is a descriptive thought that a person has about something based on:
• Knowledge• Opinion• Faith
Psychological FactorsBeliefs and Attitudes
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Chapter 5- slide 25Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Characteristics Affecting Consumer Behavior
Attitudes describe a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea
Psychological Factors
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Chapter 5- slide 26Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Types of Buying Decision Behavior
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Chapter 5- slide 27Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
Types of Buying Decision Behavior
Four Types of Buying Behavior
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Chapter 5- slide 28Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process
Buyer Decision Making Process
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Chapter 5- slide 29Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process
• Occurs when the buyer recognizes a problem or need triggered by:– Internal stimuli– External stimuli
Need Recognition
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Chapter 5- slide 30Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process
• Personal sources—family and friends• Commercial sources—advertising, Internet• Public sources—mass media, consumer
organizations• Experiential sources—handling, examining,
using the product
Information SearchSources of Information
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Chapter 5- slide 31Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process
• How the consumer processes information to arrive at brand choices
Evaluation of Alternatives
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Chapter 5- slide 32Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process
• The act by the consumer to buy the most preferred brand
• The purchase decision can be affected by: – Attitudes of others– Unexpected situational factors
Purchase Decision
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Chapter 5- slide 33Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process
• The satisfaction or dissatisfaction that the consumer feels about the purchase
• Relationship between:– Consumer’s expectations– Product’s perceived performance
• The larger the gap between expectation and performance, the greater the consumer’s dissatisfaction
• Cognitive dissonance is the discomfort caused by a post-purchase conflict
Post-Purchase Decision
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Chapter 5- slide 34Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process
Customer satisfaction is a key to building profitable relationships with consumers—to keeping and growing consumers and reaping their customer lifetime value
Post-Purchase Decision
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Chapter 5- slide 35Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process for New Products
Adoption process is the mental process an individual goes through from first learning about an innovation to final regular use.
• Stages in the process include:
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Chapter 5- slide 36Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
The Buyer Decision Process for New Products
Influence of Product Characteristics
on Rate of Adoption
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Chapter 5- slide 37Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall
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Copyright © 2010 Pearson Education, Inc. Copyright © 2010 Pearson Education, Inc. Publishing as Prentice HallPublishing as Prentice Hall