principles of marketing chap 5

8/11/2019 principles of marketing chap 5

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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 ConsumerBuyer 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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Consumer buyer behaviorrefers to the buying

behavior of final consumersindividuals and

households who buy goods and services forpersonal consumption

Consumer marketrefers to all of the personal

consumption of final consumers



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Characteristics AffectingConsumer Behavior

Factors Influencing Consumer Behavior


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Cultureis the learned values, perceptions,

wants, and behavior from family and other

important institutions

Characteristics Affecting

Consumer Behavior


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Copyright 2010 Pearson Education, Inc.



Consumer BehaviorSubculturesare groups of people within a culture

with shared value systems based on common lifeexperiences and situations

Bengalis

Gujaratis

Punjabis





Social classes are societys relatively

permanent and ordered divisions whose

members share similar values, interests,and behaviors

Measured by a combination of occupation,

income, education, wealth, and othervariables


Consumer Behavior






Membership

Groups Groups with

directinfluence

and towhich apersonbelongs

Aspirational

Groups Groups an

individualwishes to

belong to

Reference

Groups Groups that

form acomparison

or referencein formingattitudes orbehavior

Groups and Social Networks


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Word-of-mouth influence and buzzmarketing

Opinion leaders are people within areference group who exert socialinfluence on others

Also called influentialsor leading

adopters Marketers identify them to use as brand

ambassadors



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Chapter 5- slide 11Copyright 2010 Pearson Education, Inc.Publishing as Prentice Hall


Online Social Networks are

online communities where

people socialize or exchange

information and opinions

Include blogs, social

networking sites (facebook),

virtual worlds (second life)



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Family is the most important consumer-buying organization in society

The groups, family, clubs, and organizationsthat a person belongs to define his/her socialrole and status

Social Factors


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Age and life-cycle stage

RBC Royal Band stages

Youth: younger than 18

Getting started: 1835

Builders: 3550

Accumulators: 5060

Preservers: over 60

Personal Factors


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Occupationaffects the goods and services

bought by consumers

Economic situationincludes trends in:

Personal Factors

Personalincome

Savings Interestrates


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Lifestyleis a persons pattern of livingas expressed in his or herpsychographics

Measures a consumers AIOs(activities, interests, opinions) tocapture information about a personspattern of acting and interacting in the

environment

Personal Factors


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Personality and self-concept

Personality refers to the unique psychologicalcharacteristics that lead to consistent and

lasting responses to the consumers

environment

Personal Factors


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Consumer Behavior

PersonalFactors Dominance Autonomy

Defensiveness Adaptability Aggressiveness


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Psychological Factors

Motivation

Perception

Learning

Beliefs and attitudes


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Amotive is a need that is sufficiently

pressing to direct the person to seeksatisfaction

Motivation research refers to qualitative

research designed to probe consumershidden, subconscious motivations

Psychological FactorsMotivation


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Consumer Behavior

MaslowsHierarchy of Needs


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Perceptionis the process by whichpeople select, organize, and interpretinformation to form a meaningful pictureof the world from three perceptualprocesses

Selective attention

Selective distortion

Selective retention



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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 remembergood points made about a brand they favor and

forget good points about competing brands



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Learningis the change in an individuals

behavior arising from experience and

occurs through interplay of:


Drives Stimuli Cues

Responses Reinforcement


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Belief is a descriptive thought that a person

has about something based on:

Knowledge

Opinion

Faith

Psychological FactorsBeliefs and Attitudes


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Attitudesdescribe a persons relatively

consistent evaluations, feelings, andtendencies toward an object or idea



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Types of Buying Decision

Behavior

Complex buying behavior

Dissonance-reducing buying behavior

Habitual buying behavior

Variety-seeking buying behavior


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Types of Buying Decision

Behavior

Four Types of Buying Behavior


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Buyer Decision Making Process


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Occurs when the buyer recognizes a

problem or need triggered by: Internal stimuli

External stimuli

Need Recognition


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Personal sourcesfamily and friends

Commercial sourcesadvertising, Internet

Public sourcesmass media, consumerorganizations

Experiential sourceshandling, examining,using the product

Information SearchSources of Information


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How the consumer processes information

to arrive at brand choices

Evaluation of Alternatives


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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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The satisfaction or dissatisfaction that theconsumer feels about the purchase

Relationship between: Consumers expectations Products perceived performance

The larger the gap between expectation and

performance, the greater the consumersdissatisfaction

Cognitive dissonance is the discomfort causedby a post-purchase conflict

Post-Purchase Decision


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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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The Buyer Decision Process for

New Products

Influence of Product Characteristics

on Rate of Adoption

Relativeadvantage

Compatibility Complexity

Divisibility Communicability


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Ch t 5 lid 37Copyright 2010 Pearson Education Inc

All rights reserved. No part of this publication may be reproduced, stored in a

retrieval system, or transmitted, in any form or by any means, electronic,

mechanical, photocopying, recording, or otherwise, without the prior written

permission of the publisher. Printed in the United States of America.



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