AGCummings-Ignite-Pres

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Overview of Kotler & Keller's Marketing Management, Chapter 6, Analyzing Consumer Markets
for Presidio Graduate School Managerial Marketing course. (In "Ignite" format - 20 slides, 15 second automatic slide advance)

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  • This is chapter 6 of our text book, Marketing ManagementIt is about understanding humans – or groups of humans, really, – enough to shape marketing stimulus so that it leads to a response to purchase your productChart from Kotler and Keller, figure 6.1, Model of Consumer Behavior, p 162
  • AGCummings-Ignite-Pres

    1. 1. Analyzing Consumer MarketsKotler & Keller Chapter 6<br />Understanding what happens between stimulus and response1<br />Consumer psychology<br />Marketing stimuli<br />Other stimuli<br />Buying Decision Process<br />Purchase Decision<br />Consumer characteristics<br />
    2. 2. The Buying Decision Process: 5 Stage Model<br />Problem Recognition<br />Information Search<br />Evaluation of Alternatives<br />Purchase Decision<br />Post Purchase Behavior<br />Influencers of Consumer Behavior<br />Cultural<br />Social<br />Personal<br />Marketing aims to meet needs and wants better than competitors<br />Human Psychological Processes<br />Motivation<br />Perception<br />Learning<br />Memory<br />Other Theories of Consumer Decision Making<br />Level of Consumer Involvement<br />Decision Heuristics and Biases<br />Mental Accounting<br />
    3. 3. Influencers of Customer Behavior<br />Culture affects everything about a person <br />We need to understand implications of<br /><ul><li>Nationality
    4. 4. Religion
    5. 5. Ethnicity/race
    6. 6. Socio-economic class
    7. 7. Geographic Region
    8. 8. Language</li></li></ul><li>Influencers of Customer Behavior<br />Social factors influence consumption patterns<br /><ul><li>Reference Groups
    9. 9. Who do you hang out with every day?
    10. 10. Who do you see occasionally?
    11. 11. Who do you aspire to be like?
    12. 12. Who do you want nothing to do with?
    13. 13. Family
    14. 14. Role and Status</li></li></ul><li>Influencers of Customer Behavior<br />Personal: What’son your Match.com profile? <br /><ul><li>Age and Stage of Life
    15. 15. Occupation
    16. 16. Economic Status
    17. 17. Personality
    18. 18. Self Concept
    19. 19. Life Style and Values</li></li></ul><li>The Buying Decision Process: 5 Stage Model<br />Problem Recognition<br />Information Search<br />Evaluation of Alternatives<br />Purchase Decision<br />Post Purchase Behavior<br />Influencers of Consumer Behavior<br />Cultural<br />Social<br />Personal<br />Marketing aims to meet needs and wants better than competitors, to get to that decision to purchase<br />Human Psychological Processes<br />Motivation<br />Perception<br />Learning<br />Memory<br />Other Theories of Consumer Decision Making<br />Level of Consumer Involvement<br />Decision Heuristics and Biases<br />Mental Accounting<br />
    20. 20. Key Psychological Processes<br />Motivation<br />We all need food.<br />When we are hungry enough to do something about it, that is motivation.<br />We may or may not be fully aware of all our own motives.<br />
    21. 21. Key Psychological Processes<br />Perception<br />Motivation gets us to act. Our perceptions determine how we will act.<br /> Perception influenced by selective attention, distortion and retention. <br />Perceptions are more important than reality!<br />
    22. 22. Key Psychological Processes<br />Learning<br />Most human behavior is learned and we learn something every time we do anything<br />Buy product X, have a good experience, learn to buy product X.<br />
    23. 23. Key Psychological Processes<br />Memory<br />We don’t remember things completely and accurately<br />Fragments of experience get associated with other fragments, emotions, images<br />Make sure associations with our product or brand are good ones<br />
    24. 24. The Buying Decision Process: 5 Stage Model<br />Problem Recognition<br />Information Search<br />Evaluation of Alternatives<br />Purchase Decision<br />Post Purchase Behavior<br />Influencers of Consumer Behavior<br />Cultural<br />Social<br />Personal<br />Marketing aims to meet needs and wants better than competitors, to get to that decision to purchase<br />Human Psychological Processes<br />Motivation<br />Perception<br />Learning<br />Memory<br />Other Theories of Consumer Decision Making<br />Level of Consumer Involvement<br />Decision Heuristics and Biases<br />Mental Accounting<br />
    25. 25. The Buying Decision ProcessA 5 Stage Model<br />Stage 1: Problem Recognition<br />I’m hungry.<br />And my neighbor’s new car is pretty cool; I want one. But I’m really hungry right now. <br />Maybe I should buy something to eat.<br />
    26. 26. The Buying Decision ProcessA 5 Stage Model<br />Stage 2: Information Search<br />Talk to family and friends and chefs about food I could eat.<br />Visit the farmers market to see what’s in season<br />Check out Yelp and Zagats for reviews of restaurants where I could eat<br />
    27. 27. The Buying Decision ProcessA 5 Stage Model<br />Stage 3: Evaluation of Alternatives<br />I want something to assuage my hunger<br />And a bundle of other wants<br />Want delicious, not too expensive<br />Feeling more like sweet rather than savory today<br />Not too concerned about nutrition<br />
    28. 28. The Buying Decision ProcessA 5 Stage Model<br />Stage 4: Purchase Decision<br />A purchase is made. This is the moment we’ve been waiting for!<br />At least five subdecisions involved in this simple purchase:<br />Brand / flavor<br />Dealer / vendor<br />Quantity<br />Timing<br />Payment method<br />
    29. 29. The Buying Decision ProcessA 5 Stage Model<br />Marketer is still not done<br />I want to believe that I made a good choice buying your product <br />Help me by providing stream of positive things to associate with your product<br />Stage 5: Post Purchase Behavior<br />
    30. 30. The Buying Decision Process: 5 Stage Model<br />Problem Recognition<br />Information Search<br />Evaluation of Alternatives<br />Purchase Decision<br />Post Purchase Behavior<br />Influencers of Consumer Behavior<br />Cultural<br />Social<br />Personal<br />Marketing aims to meet needs and wants better than competitors, to get to that decision to purchase<br />Human Psychological Processes<br />Motivation<br />Perception<br />Learning<br />Memory<br />Other Theories of Consumer Decision Making<br />Level of Consumer Involvement<br />Decision Heuristics and Biases<br />Mental Accounting<br />
    31. 31. (Low) Level of Consumer Involvement<br />Many purchases are for low-engagement, low-involvement items<br />Find a hook – like a celebrity spokesperson<br />Dominate shelf space in retail outlets<br />Grab the variety-seeking customer with varied packaging<br />
    32. 32. Decision Heuristics and Biases<br />Rules of thumb, habit, and historical bias good enough for most purchases of most products.<br />Can I get it quickly and easily?<br />Is it close enough to the others of its type that I can assume it’s good enough?<br />Good enough is good enough.<br />
    33. 33. Profiling<br />Profile your customers’ decision making processes all the time.<br />To figure out how your customer will decide about buying your product, just ask:<br />Yourself how you would decide<br />Recent customers how they did decide<br />Future customers how they will decide<br />And we’re done. Thank you.<br />

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