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V47 Ch6 Consumerbehavior Ed Basa
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V47 Ch6 Consumerbehavior Ed Basa

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Understanding Consumer Markets

Understanding Consumer Markets

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  • 1. ANALYZING CONSUMER MARKETS
    MARKETING STARTS WITH KNOWING !
    Edgardo V. Basa
    Ateneo Graduate School of Business
    December 1, 2009
  • 2. OUTLINE
    Consumer Behavior :The Challenge to understand
    The Whys define the buys
    The finger that triggers to buy.
    The anatomy of buying
    The process called Buying
    The rootword of buying : Influence
    Origins of buying judgments
    The details of buying
    What comes next : The behavior after buying
    What comes last : The behavior of using and disposing
  • 3. Concept 1
    CONSUMER BEHAVIOR:
    THE CHALLENGE TO UNDERSTAND
    KNOW HOW :
    CONSUMERS BUY, USE AND DISPOSE PRODUCTS
    DISCOVER HOW :
    MARKETERS REACH AND SERVE THEM EFFECTIVELY
  • 4. Concept 2
    THE “ WHYS ” DEFINE “ BUYS”
    Cultural Influence
    • Subculture
    • 5. Social stratification
    Social Influence
    • Reference groups
    • 6. Family
    • 7. Roles and Status
    Personal Influence
    • Age and stage in life cycle
    • 8. Occupation and economic circumstance
    • 9. Personality and self concept
    • 10. Life styles and values
  • Concept 2
    THE “ WHYS ” DEFINE “ BUYS”
    • Understand Consumer motivation
    • 11. Clarify perceptions
    • 12. Reinforce Learning
    • 13. Associate with Memories
  • Concept 2
    THE “ WHYS ” DEFINE “ BUYS”
    CULTURAL INFLUENCE
    SOCIAL INFLUENCE
    PERSONAL INFLUENCE
    CONSUMER
    CHARACTERISTICS
    CONSUMER PSYCHOLOGY
  • 17. Concept 3
    UNDERSTAND THE FINGER
    What triggers the buyer to decide to buy ?
    Internal stimuli
    Needs reaching Threshold= Drive
    or ( Needs )
    +
    External stimuli
    Arousing the need
    n
  • 18. Concept 4
    THE ANATOMY OF BUYING
    BUYING IS A PROCESS
    Consumer psychology and
    characteristic
    Marketing stimuli
    and environmental factors
    BUY !!
  • 19. Problem Recognition
    Concept 5
    THE PROCESS CALLED BUYING
    Evaluation of Alternatives
    Post purchase Behavior
    Information Search
    Purchase Decision
  • 20. Concept 6
    THE ROOT WORD OF BUYING:
    INFLUENCE
    Where does he get the information on what to buy ?
    Personal
    Family, friends, neighbors, acquaintances
    Commercial
    Adverising, web sites, salesmen, dealers, displays
    Public
    Mass media, consumer rating organizations
    Experiential
    Handling, using and examining the product
  • 21. Concept 7
    ORIGINS OF BUYING JUDGMENTS
    Beliefs
    THOUGHTS A PERSON HOLDS ABOUT SOMETHING
    Attitudes
    DISPOSITION ABOUT SOMETHING
  • 22. Concept 8
    THE DETAILS OF BUYING
    Buy the preferred brand
    Determine quantity to be purchased
    Determine the timing of purchase
    Payment method
  • 23. Concept 9
    WHAT COMES NEXT ?
    THE BEHAVIOR AFTER BUYING
    Post purchase Satisfaction
    Disappointed
    Delighted
    Satisfied
  • 24. Concept 9
    WHAT COMES NEXT ?
    THE BEHAVIOR AFTER BUYING
    Post purchase Actions
    Grape vine option
    Voice option
    “Spread the bad news ”
    “Spread the good news ”
    Exit option
    Re-entry options
    “Repeat buying”
    “Stop buying”
  • 25. Concept 10
    WHAT COMES LAST ?
    THE BEHAVIOR OF USING AND DESPOSING
    Get rid : temporarily
    Get rid: permanently
    Keep it
  • 26. Consumer Behavior
  • 27. CONCLUSION
    UNDERSTANDING YOUR CUSTOMERS PATTERN IN BUYINGUSING AND DISPOSING PRODUCTS
    WOULD GIVE US IDEAS ON HOW TO REACH AND SERVE THEM WELL.
    EXTERNAL AND INTERNAL FACTORS AFFECT BUYERS PURCHASING DECISIONS
    BUYING IS A PROCESS
    IT IS THE OBJECTIVE OF THE MARKETER TO UNDERSTAND :
    THE BUYERS “ PSYCHE ” IN BUYING
    THE EXTERNAL FACTORS THAT AFFECTS HIS DECISIONS
    THE PROCESS HE UNDERGOES IN BUYING AND HIS
    BEHAVIOR AFTER DOING SO.
    5. UNDERSTAND AND LOVE YOUR CUSTOMERS !!!!