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Fajardo analyzing consumer markets

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  • 1. Analyzing Consumer Markets Connecting with Customers Paul Vincent D Fajardo, DVM V49 Marketing Management May 2010
  • 2. Outline
    • Definition
    • How does consumer characteristics influence buying behavior?
    • How do consumers make purchasing decisions?
    • Summary
  • 3. 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
  • 4. Concept 1: Consumer’s buying behavior is influenced by Cultural Factor Culture is the fundamental determinant of a person’s wants and behavior
  • 5. Concept 1: Consumer’s buying behavior is influenced by Cultural Factor
    • Kotler: Quinceanera
    • Local : Mc Donald’s
    • RP Medical Application:
    • Herbal Medicine
  • 6. Concept 2: Social factors affect buying behavior Primary groups: Family Secondary groups: Religious Opinion Leader
  • 7. 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
  • 8. 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
  • 9. Concept 3: Buyer’s decision are influenced by personal characteristics
    • Kotler:
    • Local :
    • RP Medical Application:
    • Calayan Medical
  • 10. Concept 4: Motivation is the vigor which we pursue the goal
    • Needs:
    • Biogenic:
    • Food, water, shelter
    • Psychogenic : Recognition, esteem
    • belonging
  • 11. Concept 4: Motivation is the vigor which we pursue the goal
    • Kotler: Chrysler PT Cruiser
    • Local : Vista Land
    • RP Medical Application:
    • Organization/Associations
  • 12. 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
  • 13. 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
  • 14. Concept 6: Buying Decision Process
    • Problem Recognition
    • Information Search
    • Evaluation of Alternatives
    • Purchase Decision
    • Post purchase behavior
  • 15. Concept 6: Problem Recognition
    • Kotler: Neighbor’s new car
    • Local : Buy a better car
    • RP Medical Application:
    • Executive Health Check
    Buyer recognizes a need
  • 16. Concept 7: Information Search Heightened attention Active information search
  • 17. 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.
  • 18. 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.
  • 19. Concept 8: Evaluation of Alternatives Kotler: Hotel- Location, cleanliness, atmosphere, price Local : Vacation promos/ packages RP Medical Application: Health packages
  • 20. 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.
  • 21. Concept 9: Purchase decision Kotler: Intel inside processor logo. Local :San Miguel Beer RP Medical Application:
  • 22. 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
  • 23. Concept 10: Post purchase behavior Kotler: Oral B Toothbrush Indicator Local: Customer satisfaction surveys RP Medical Application: Cosmetic Surgery
  • 24. Summary: Understanding the factors ( Cultural, Social & Personal ) that influence can provide marketers with clues to reach and serve consumers effectively
  • 25. Analyzing Consumer Markets Connecting with Customers Paul Vincent D Fajardo, DVM V49 Marketing Management May 2010

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