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    Fajardo analyzing consumer markets Fajardo analyzing consumer markets Presentation Transcript

    • Analyzing Consumer Markets Connecting with Customers Paul Vincent D Fajardo, DVM V49 Marketing Management May 2010
    • Outline
      • Definition
      • How does consumer characteristics influence buying behavior?
      • How do consumers make purchasing decisions?
      • Summary
    • Consumer behavior Is the study of how individuals, groups, and organizations select, buy, use and dispose of goods, services, ideas, experiences to satisfy their needs and wants
    • Concept 1: Consumer’s buying behavior is influenced by Cultural Factor Culture is the fundamental determinant of a person’s wants and behavior
    • Concept 1: Consumer’s buying behavior is influenced by Cultural Factor
      • Kotler: Quinceanera
      • Local : Mc Donald’s
      • RP Medical Application:
      • Herbal Medicine
    • Concept 2: Social factors affect buying behavior Primary groups: Family Secondary groups: Religious Opinion Leader
    • Concept 2: Social factors affect buying behavior Kotler: General Motors team up w/ Mc Donald’s Happy Meals Local : Ironman team up w/ Jollibee RP Medical Application: Century Tuna Health and Wellness
    • Concept 3: Buyer’s decision are influenced by personal characteristics Age and Stage In Life Cycle Personality and Self-concept Occupation & Economic Circumstances Lifestyle and Values
    • Concept 3: Buyer’s decision are influenced by personal characteristics
      • Kotler:
      • Local :
      • RP Medical Application:
      • Calayan Medical
    • Concept 4: Motivation is the vigor which we pursue the goal
      • Needs:
      • Biogenic:
      • Food, water, shelter
      • Psychogenic : Recognition, esteem
      • belonging
    • Concept 4: Motivation is the vigor which we pursue the goal
      • Kotler: Chrysler PT Cruiser
      • Local : Vista Land
      • RP Medical Application:
      • Organization/Associations
    • Concept 5 : Perception affects consumer behavior
      • Perception is the process by which we select, organize, and interpret information inputs to create a meaningful picture of the world
      • 3 Perceptual process:
      • Selective attention
      • Selective distortion
      • Selective retention
    • Concept 5: Perception affects consumer behavior Kotler: Coors Co. changed label from “Banquet beer” to “ Original Draft” Local : Coke to Coke Zero RP Medical Application: Alaxan vs Alaxan FR
    • Concept 6: Buying Decision Process
      • Problem Recognition
      • Information Search
      • Evaluation of Alternatives
      • Purchase Decision
      • Post purchase behavior
    • Concept 6: Problem Recognition
      • Kotler: Neighbor’s new car
      • Local : Buy a better car
      • RP Medical Application:
      • Executive Health Check
      Buyer recognizes a need
    • Concept 7: Information Search Heightened attention Active information search
    • Concept 7: Information Search
      • Kotler: Doctors learn new info but still consults on fellow Physicians.
      • Local : Wheatgrass
      • RP Medical Application:
      • Wheatgrass
      • Controversial. Not yet substantiated by medical research.
    • Concept 8: Evaluation of Alternatives
      • Consumer :
      • Trying to satisfy a need
      • Looking for certain benefits from the product solution
      • Will pay the most
      • attention to
      • attributes that
      • deliver the sought-
      • after benefits.
    • Concept 8: Evaluation of Alternatives Kotler: Hotel- Location, cleanliness, atmosphere, price Local : Vacation promos/ packages RP Medical Application: Health packages
    • Concept 9: Purchase decision
      • Consumer :
      • form an intention to buy
      • the most powerful brand.
      • The attitudes of others can intervene between purchase intention and purchase decision.
      • The unanticipated situational factors may erupt to change the purchase intention.
    • Concept 9: Purchase decision Kotler: Intel inside processor logo. Local :San Miguel Beer RP Medical Application:
    • Concept 10: Post purchase behavior Postpurchase satisfaction Satisfaction is a function of the closeness between EXPECTATION and the product’s perceived PERFORMANCE. Satisfied Disappointed Delighted
    • Concept 10: Post purchase behavior Kotler: Oral B Toothbrush Indicator Local: Customer satisfaction surveys RP Medical Application: Cosmetic Surgery
    • Summary: Understanding the factors ( Cultural, Social & Personal ) that influence can provide marketers with clues to reach and serve consumers effectively
    • Analyzing Consumer Markets Connecting with Customers Paul Vincent D Fajardo, DVM V49 Marketing Management May 2010