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Consumer Buying Behavior and Buying Decision Process
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Consumer Buying Behavior and Buying Decision Process

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Characteristics affecting buying behavior and the Buying Decision Process. Deals with the consumer buying behavior.

Characteristics affecting buying behavior and the Buying Decision Process. Deals with the consumer buying behavior.

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  • Photograph Taken by Jaideep Solanki at Ras Al Jinz, Turtle Reserve in Sur, Oman
  • Transcript

    • 1. Company LOGOC O N S U M E R B U Y IC O N S U M E R B U Y IN GN GB E H A V I O U RB E H A V I O U RRMD SinhgadSchool of ManagementStudies11thJune 2013Presented byJaideep Vasant SOLANKIat
    • 2. Jaideep Vasant SOLANKIAGENDAObjective1Buying Influencers*2The BDP3Encapsulate4
    • 3. Jaideep Vasant SOLANKIObjectives1
    • 4. Jaideep Vasant SOLANKIOBJECTIVESWe would learn the following by theend of the session1. How do consumer characteristicsinfluence buying behaviour?2. How do consumers make purchasingdecisions?
    • 5. Jaideep Vasant SOLANKIBuying Influencers*2
    • 6. Jaideep Vasant SOLANKIBuying Influencers*Factors Influencing Consumer Behaviour
    • 7. Jaideep Vasant SOLANKICharacteristics AffectingConsumer Behavior Cultural Social Personal Psychological Culture Subcultures Racial Religious Regional Social ClassKey FactorsBuying Influencers*
    • 8. Jaideep Vasant SOLANKICharacteristics AffectingConsumer Behavior Cultural Social Personal PsychologicalKey FactorsBuying Influencers* Groups Membership Reference• Aspirational groups Opinion leaders• Buzz marketing Family Changing roles of H-W Children can influence Roles and Status
    • 9. Jaideep Vasant SOLANKICharacteristics AffectingConsumer Behavior Cultural Social Personal PsychologicalKey FactorsBuying Influencers* Age and life cycle Occupation Economic situation Lifestyle Activities, interests, andopinions Lifestyle segmentation Personality and self-concept Brand personality
    • 10. Jaideep Vasant SOLANKICharacteristics AffectingConsumer Behavior Cultural Social Personal PsychologicalKey FactorsBuying Influencers* Motivation Needs provide motives forconsumer behavior Motivation research Maslow’s hierarchy of needs Perception Selective attention, selectivedistortion, selective retention Learning Drives, stimuli, cues,responses and reinforcement Memory
    • 11. Jaideep Vasant SOLANKIThe BDP3
    • 12. Jaideep Vasant SOLANKIThe 5 Stage Process to BuyingDecisionThe Buying Decision Process
    • 13. Jaideep Vasant SOLANKIThe 5 Stage Process to BuyingDecisionThe Buying Decision Process Need recognition Informationsearch Evaluation ofalternatives Purchase decision Postpurchasebehavior Needs can betriggered by: Internal stimuli• Normal needs becomestrong enough to drivebehavior External stimuli• Advertisements• Friends of friendsProcessProcessStagesStages
    • 14. Jaideep Vasant SOLANKIThe 5 Stage Process to BuyingDecisionThe Buying Decision Process Need recognition Informationsearch Evaluation ofalternatives Purchase decision Postpurchasebehavior Consumers exhibitheightened attention oractively search forinformation. Sources of information: Personal Commercial Public Experiential Word-of-mouthProcessProcessStagesStages
    • 15. Jaideep Vasant SOLANKIThe 5 Stage Process to BuyingDecisionThe Buying Decision Process Need recognition Informationsearch Evaluation ofalternatives Purchase decision Postpurchasebehavior Evaluation proceduredepends on theconsumer and thebuying situation. Most buyers evaluatemultiple attributes,each of which isweighted differently. At the end of theevaluation stage,purchase intentions areformed.ProcessProcessStagesStages
    • 16. Jaideep Vasant SOLANKIThe 5 Stage Process to BuyingDecisionThe Buying Decision Process Need recognition Informationsearch Evaluation ofalternatives Purchase decision Postpurchasebehavior Two factorsintercede betweenpurchase intentionsand the actualdecision: Attitudes of others Unexpected situationalfactorsProcessProcessStagesStages
    • 17. Jaideep Vasant SOLANKIThe 5 Stage Process to BuyingDecision Need recognition Informationsearch Evaluation ofalternatives Purchase decision Postpurchasebehavior Satisfaction isimportant: Delighted consumers engagein positive word-of-mouth. Unhappy customers tell onaverage 11 other people. It costs more to attract a newcustomer than it does toretain an existing customer. Cognitive dissonance iscommonThe Buying Decision ProcessProcessProcessStagesStages
    • 18. Jaideep Vasant SOLANKIEncapsulate4
    • 19. Jaideep Vasant SOLANKI1Consumerbehaviour isinfluenced by 4factors – Cultural,Social, PersonalandPsychological.3KeyPsychologicalparameters are,1. Motivation2. Perception3. Learning4. Memory2Stages of BuyingDecisionMaking are –1. NeedRecognition2. Info Search3. EvaluateAlternatives4. PurchaseDecision5. Post PurchasedecisionEncapsulate
    • 20. THANK YOU“ My sincere Thanks to Dr. J. Peter & the Institute forproviding me with this opportunity”…With every rising day, Iaspire to raise my bar and beprepared to face newchallenges on my way…© Jaideep Vasant SOLANKI

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