Consumer Buying Behavior 2

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Consumer Buying Behavior 2

  1. 1. Consumer Buying Behavior .Cont
  2. 2. Types of Buying Decisions Extended Problem Solving High financial or social risk Limited Problem Solving Some prior Buying Experience Habitual Decision Making ,Store Brand Loyalty
  3. 3. Extended Problem Solving In this process customers spend a lot of time and effort evaluating alternatives and researching the desired product
  4. 4. Customers tend to engage in extended problem solving when .a purchase involves a lot of risk or uncertainty :Types of Risks Include • Financial Risks • Physical Risks • Social Risks
  5. 5. Retailers can assist consumers in :Extended Problem solving by • Providing a lot of information • Having helpful and informative salespeople • -Having informational in store displays • Having salespeople demonstrate features and answer questions Retailers can also reduce risks by: • Offering a money back guarantee • Offering easy return of merchandise
  6. 6. Limited Problem Solving In this process consumers spend a moderate amount of time and effort analyzing ,alternatives but also rely on their prior experience with the product or service
  7. 7. Retailers can assist consumers in :Limited Problem Solving by Providing a positive experience – Make sure customer is satisfied – Provide good service – Have a large selection of quality items – Offer rewards for loyal customers – Have convenient locations
  8. 8. Habitual Decision Making When the product is not important to the customer and they make the purchase with little or no effort the customer is performing Habitual Decision Making
  9. 9. Habitual Decision Making usually involves customer loyalty .to a Store or Brand Brand Loyalty • Customer is committed to a specific brand • Will shop at a different retailer to get specific brand • Reluctant to try a different brand Store Loyalty Customer habitually visits the same store Reluctant to try a different store
  10. 10. Social Factors Influencing the Buying Process
  11. 11. How Family Influences the Buying Decision • Purchases are for the entire family • All family members have opinions about products • Retailers try to satisfy needs of all family members – : ,Example playrooms at IKEA books and games provided at Hyatt , 'Hotels Seating areas with TV s in malls
  12. 12. Reference Groups A reference group is one or more people whom a person uses , ,as a basis of comparison for beliefs feelings and behaviors :A reference group can affect the buying process by • ( )Offering information directly and indirectly • -Enhancing a consumers self image Retailers often try to reach store advocates that are part of reference groups to .encourage consumers to frequent their store
  13. 13. Culture , , ,Culture is the meaning beliefs morals and values shared by .most members of a society :Two commons types of cultures are –Individualism consumers tend to rely on their own inner standards and beliefs –Collectivism consumers tend to shop in groups and put more value on products used in a public manner

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