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TOP 10 Learning Questions for<br />Chapter 6<br />Analyzing Consumer Markets<br />Grace Sumera<br />24 September 2010<br />
1.  ____ factors exert the broadest and deepest influence on consumer behavior.<br />Economic<br />Personal<br />Cultural<...
Factors Affecting Consumer Behavior<br />3<br />Culture<br />Social<br />Personal<br />Psychological<br />Buyer<br />
Factors Affecting Consumer Behavior<br />A consumer’s buying behaviour is influenced by cultural, social, and personal fac...
1.  ____ factors exert the broadest and deepest influence on consumer behavior.<br />Economic<br />Personal<br />Cultural<...
2. ___ is a key psychological process that has both direction and intensity.<br />Motivation<br />Perception<br />Learning...
Key Psychological Processes<br />7<br />
Motivation<br />8<br />4 key psychological processes – motivation, perception, learning, & memory – fundamentally influenc...
2. ___ is a key psychological process that has both direction and intensity.<br />Motivation<br />Perception<br />Learning...
3. The following are major information sources to which consumers turn to EXCEPT<br />Experiential<br />Commercial <br />P...
Major Information Sources<br />11<br />
Major Information Sources<br />12<br />
3. The following are major information sources to which consumers turn to EXCEPT<br />Experiential<br />Commercial <br />P...
4.  Buyer’s decisions are influenced by personal characteristics EXCEPT<br />Nationality<br />Age & Stage in the Life Cycl...
Personal Factors<br />15<br />
Nationality is a Cultural Factor!<br />16<br />SUBCULTURES<br />
4.  Buyer’s decisions are influenced by personal characteristics EXCEPT<br />Nationality<br />Age & Stage in the Life Cycl...
5. Which of the following is true?<br />Groups having either face-to-face or indirect influence to consumer behavior are c...
Social Factors<br />19<br />Reference Groups<br />
Social Factors<br />Social factors such as reference groups affect consumer behaviour.<br />Reference groups have either d...
5. Which of the following is true?<br />Groups having either face-to-face or indirect influence to consumer behavior are c...
6.  Which of the following statements is false?<br />The buying decision process is a five-stage model.  <br /> The model ...
Consumer Buying Process<br />23<br />
Consumer Buying Process<br />The Buying Process does not end with the purchase. Marketers monitor the buyer’s feelings or ...
6.  Which of the following statements is false?<br />The buying decision process is a five-stage model.  <br />The model s...
7. MTV appears to have a   brand personality of<br />Competence<br />Excitement<br />Ruggedness<br />Sincerity<br />Sophis...
Brand Personalities<br />27<br />Brand Personality is the specific mix of human traits that we can attribute to a particul...
Brand Personalities<br />  caters to the young generation who’s interested in the latest music, fashion, videos, concerts,...
7. MTV suggests to having a brand personality of<br />Competence<br />Excitement<br />Ruggedness<br />Security<br />Sophis...
8.  Highly Price-sensitive people deciding to purchase the cheapest brand is an example of this purchase strategy<br />Con...
Purchase Decision<br />Heuristics are rules of thumb or mental shortcuts in the decision process.<br />31<br />
Heuristics<br />Conjunctive heuristic – consumer chooses the 1st alternative that meets the minimum standard for all attri...
8.  Highly Price-sensitive people deciding to purchase the cheapest brand is an example of<br />Conjunctive heuristic<br /...
9.  A Filipina who recently postponed her trip to HK was influenced by this type of risk<br />Psychological Risk <br /> Ph...
Perceived Risks<br />35<br />A consumer’s decision to modify, postpone, or avoid a purchase is heavily influenced by perce...
Perceived Risks<br />Due to the recent hostage incident, Filipinos may cancel their trip to HK because of perceived risks:...
9.  A Filipina who recently postponed her trip to HK was influenced by this type of risk<br />Psychological Risk <br /> Ph...
10.  Marketers who learn about the buying process for their service by conducting surveys on recent diners in their restau...
Profiling the Customer Buying-Decision Process<br />Marketers learn about the stages in the buying process for their produ...
Profiling the Customer Buying-Decision Process<br />Interviewing a small number of recent purchasers, asking them to recal...
10.  Marketers who learn about the buying process for their service by conducting surveys on recent diners in their restau...
TOP 10 Learning Questions for<br />Analyzing Consumer Markets<br />Chapter 6<br />Grace Sumera<br />24 September 2010<br />
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Ch6 Analyzing Consumer Markets

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Chapter 6: Analyzing Consumer Markets

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Transcript of "Ch6 Analyzing Consumer Markets "

  1. 1. TOP 10 Learning Questions for<br />Chapter 6<br />Analyzing Consumer Markets<br />Grace Sumera<br />24 September 2010<br />
  2. 2. 1. ____ factors exert the broadest and deepest influence on consumer behavior.<br />Economic<br />Personal<br />Cultural<br />Social<br />Demographic<br />2<br />
  3. 3. Factors Affecting Consumer Behavior<br />3<br />Culture<br />Social<br />Personal<br />Psychological<br />Buyer<br />
  4. 4. Factors Affecting Consumer Behavior<br />A consumer’s buying behaviour is influenced by cultural, social, and personal factors. <br />Cultural factors exert the broadest and deepest influence.<br />Culture is the fundamental determinant of a person’s wants and behaviour.<br />4<br />
  5. 5. 1. ____ factors exert the broadest and deepest influence on consumer behavior.<br />Economic<br />Personal<br />Cultural<br />Social<br />Demographic<br />5<br />
  6. 6. 2. ___ is a key psychological process that has both direction and intensity.<br />Motivation<br />Perception<br />Learning<br />Memory<br />Sensation<br />6<br />
  7. 7. Key Psychological Processes<br />7<br />
  8. 8. Motivation<br />8<br />4 key psychological processes – motivation, perception, learning, & memory – fundamentally influence consumer responses.<br />Motivation has both direction – we select one goal over another – & intensity – the vigor with which we pursue the goal.<br />
  9. 9. 2. ___ is a key psychological process that has both direction and intensity.<br />Motivation<br />Perception<br />Learning<br />Memory<br />Sensation<br />9<br />
  10. 10. 3. The following are major information sources to which consumers turn to EXCEPT<br />Experiential<br />Commercial <br />Public<br />External<br />Personal<br />10<br />
  11. 11. Major Information Sources<br />11<br />
  12. 12. Major Information Sources<br />12<br />
  13. 13. 3. The following are major information sources to which consumers turn to EXCEPT<br />Experiential<br />Commercial <br />Public<br />External<br />Personal<br />13<br />
  14. 14. 4. Buyer’s decisions are influenced by personal characteristics EXCEPT<br />Nationality<br />Age & Stage in the Life Cycle<br />Occupation & Economic Circumstances<br />Personality<br />Lifestyle<br />14<br />
  15. 15. Personal Factors<br />15<br />
  16. 16. Nationality is a Cultural Factor!<br />16<br />SUBCULTURES<br />
  17. 17. 4. Buyer’s decisions are influenced by personal characteristics EXCEPT<br />Nationality<br />Age & Stage in the Life Cycle<br />Occupation & Economic Circumstances<br />Personality<br />Lifestyle<br />17<br />
  18. 18. 5. Which of the following is true?<br />Groups having either face-to-face or indirect influence to consumer behavior are called membership groups. <br />People are influenced by groups to which they do not belong.<br />Reference groups are groups having direct influence on consumer behavior.<br />Dissociative groups do not influence consumer behavior.<br />Friends are considered secondary groups while family is a primary group.<br />18<br />
  19. 19. Social Factors<br />19<br />Reference Groups<br />
  20. 20. Social Factors<br />Social factors such as reference groups affect consumer behaviour.<br />Reference groups have either direct (face-to-face) or indirect influence.<br />Groups having direct influence are called membership groups.<br />Primary groups are groups with whom a person interacts fairly continuously and informally, such as family & friends.<br />People are also influenced by groups to which they do not belong, such as aspirational & dissociative groups.<br />20<br />
  21. 21. 5. Which of the following is true?<br />Groups having either face-to-face or indirect influence to consumer behavior are called membership groups. <br />People are influenced by groups to which they do not belong.<br />Reference groups are groups having direct influence on consumer behavior.<br />Dissociative groups do not influence consumer behavior.<br />Friends are considered secondary groups while family is a primary group.<br />21<br />
  22. 22. 6. Which of the following statements is false?<br />The buying decision process is a five-stage model. <br /> The model starts with problem recognition & ends with the purchase decision.<br /> The buying process starts long before the actual purchase.<br /> Consumers don’t always pass through all 5 stages in buying a product.<br /> The attitude of others & unanticipated situations may intervene with the purchase decision.<br />22<br />
  23. 23. Consumer Buying Process<br />23<br />
  24. 24. Consumer Buying Process<br />The Buying Process does not end with the purchase. Marketers monitor the buyer’s feelings or behavior towards the product or service after the purchase. <br />Marketers are concerned about post-purchase satisfaction, actions (repurchase or abandonment), & disposal (rent, lend, or store).<br />24<br />
  25. 25. 6. Which of the following statements is false?<br />The buying decision process is a five-stage model. <br />The model starts with problem recognition & ends with the purchase decision.<br /> The buying process starts long before the actual purchase.<br /> Consumers don’t always pass through all 5 stages in buying a product.<br /> The attitude of others & unanticipated situations may intervene with the purchase decision.<br />25<br />
  26. 26. 7. MTV appears to have a brand personality of<br />Competence<br />Excitement<br />Ruggedness<br />Sincerity<br />Sophistication<br />26<br />
  27. 27. Brand Personalities<br />27<br />Brand Personality is the specific mix of human traits that we can attribute to a particular brand.<br />
  28. 28. Brand Personalities<br /> caters to the young generation who’s interested in the latest music, fashion, videos, concerts, events, movies, etc. It is a total expression of youth, individuality, and breaking conventions. It exudes a daring, spirited, imaginative, and up-to-date personality – Excitement.<br />28<br />
  29. 29. 7. MTV suggests to having a brand personality of<br />Competence<br />Excitement<br />Ruggedness<br />Security<br />Sophistication<br />29<br />
  30. 30. 8. Highly Price-sensitive people deciding to purchase the cheapest brand is an example of this purchase strategy<br />Conjunctive heuristic<br /> Elimination-by-aspects heuristic<br /> Lexicographic heuristic<br /> Availability heuristic<br /> Representative heuristic<br />30<br />
  31. 31. Purchase Decision<br />Heuristics are rules of thumb or mental shortcuts in the decision process.<br />31<br />
  32. 32. Heuristics<br />Conjunctive heuristic – consumer chooses the 1st alternative that meets the minimum standard for all attributes.<br />Lexicographic heuristic – consumer chooses the best brand on the basis of its perceived most important attribute.<br />Elimination-by-aspects heuristic – consumer compares brands & eliminates brands that do not meet minimum acceptable cut-offs.<br />32<br />
  33. 33. 8. Highly Price-sensitive people deciding to purchase the cheapest brand is an example of<br />Conjunctive heuristic<br /> Elimination-by-aspects heuristic<br />Lexicographic heuristic<br /> Availability heuristic<br /> Representative heuristic<br />33<br />
  34. 34. 9. A Filipina who recently postponed her trip to HK was influenced by this type of risk<br />Psychological Risk <br /> Physical Risk<br /> Financial Risk<br /> Social Risk<br /> All of the above<br />34<br />
  35. 35. Perceived Risks<br />35<br />A consumer’s decision to modify, postpone, or avoid a purchase is heavily influenced by perceived risks.<br />
  36. 36. Perceived Risks<br />Due to the recent hostage incident, Filipinos may cancel their trip to HK because of perceived risks:<br />Functional Risk – the product may not perform up to expectations<br />Physical Risk – the product poses a threat to the physical well-being of the user/others<br />Financial Risk – the product is not worth the price paid<br />Social Risk – the product results in embarrassment from others<br />Psychological Risk – the product affects the mental well-being of the user<br />Time Risk – wasted time in finding a new product in case of product failure<br />36<br />
  37. 37. 9. A Filipina who recently postponed her trip to HK was influenced by this type of risk<br />Psychological Risk <br /> Physical Risk<br /> Financial Risk<br /> Social Risk<br />All of the above<br />37<br />
  38. 38. 10. Marketers who learn about the buying process for their service by conducting surveys on recent diners in their restaurant display an example of this customer profiling method<br />Prospective Method <br /> Prescriptive Method<br /> Retrospective Method<br /> Introspective Method<br /> Scientific Method<br />38<br />
  39. 39. Profiling the Customer Buying-Decision Process<br />Marketers learn about the stages in the buying process for their product through:<br />Introspective Method<br />Retrospective Method<br />Prospective Method<br />Prescriptive Method<br />39<br />
  40. 40. Profiling the Customer Buying-Decision Process<br />Interviewing a small number of recent purchasers, asking them to recall the events leading to their purchase is the retrospective method.<br />40<br />
  41. 41. 10. Marketers who learn about the buying process for their service by conducting surveys on recent diners in their restaurant display an example of this customer profiling method<br />Prospective Method <br /> Prescriptive Method<br />Retrospective Method<br /> Introspective Method<br /> Scientific Method<br />41<br />
  42. 42. TOP 10 Learning Questions for<br />Analyzing Consumer Markets<br />Chapter 6<br />Grace Sumera<br />24 September 2010<br />
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