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Final pp slide

  1. 1. CONSUMER BUYER BEHAVIOR Submitted by: Group # 06 Zahidul Alam, ID # 093-0845-090 Md. Nazmul Ahsan, ID # 101-0236-060 Shubarna Nasrin, ID # 102-0608-660
  2. 2. Definitions Consumer buyer behavior refers to the buying behavior of final consumers – individuals and households who buy goods and services for personal consumption All of these final consumers combine to make up the consumer market
  3. 3. Model of Buyer Behavior
  4. 4. Characteristics Affecting ConsumerBehavior Cultural Factor Culture  Forms a person’s wants and behavior Subculture  Groups with shared value systems Social Class  Society’sdivisions who share values, interests and behaviors
  5. 5. Characteristics Affecting ConsumerBehavior Social Factor Groups  Membership  Reference  Aspirational  Opinion leaders  Buzz marketing Family  Many influencers Roles and status
  6. 6. Characteristics Affecting ConsumerBehavior Personal Factor Age and life cycle Occupation Economic situation Lifestyle Activities, interests and opinions Lifestyle segmentation Personality and self-concept
  7. 7. Characteristics Affecting ConsumerBehavior Psychological Factor Motivation Perception Learning Beliefs and attitudes
  8. 8. Psychological FactorsMotivation A motive is a need that is sufficiently pressing to direct the person to seek satisfaction Motivation research is based on Freud. Looks for hidden and subconscious motivation Maslow ordered needs based on how pressing they are to the consumer
  9. 9. Maslow’s Hierarchy of Needs
  10. 10. Psychological FactorsPerception Perception is the process by which people select, organize, and interpret information. Perception Includes:  Selective attention  Consumers screen out information  Selective distortion  People interpret to support beliefs  Selective retention  People retain points to support attitudes
  11. 11. Psychological FactorsLearning Learning describes changes in an individual’s behavior arising from experience Learning occurs through  Drives  Internal stimulus that calls for action  Stimuli  Objects that move drive to motive  Cues  Minor stimuli that affect response  Reinforcement  Feedback on action
  12. 12. Psychological Factors Beliefs andAttitudes Belief a descriptive thought about a brand or service  may be based on real knowledge, opinion, or faith Attitude  describes a person’s evaluations, feelings and tendencies toward an object or idea  They are difficult to change
  13. 13. Types of BuyingDecision Behavior
  14. 14. The Buyer Decision Process
  15. 15. The Buyer DecisionProcess Need recognition Needs can be triggered by:  Internal stimuli  Normal needs become strong enough to drive behavior  External stimuli  Advertisements  Friends of friends
  16. 16. The Buyer DecisionProcess Information search Consumers exhibit heightened attention or actively search for information Sources of information:  Personal  Commercial  Public  Experiential  Word-of-mouth
  17. 17. The Buyer DecisionProcess Evaluation of alternatives Evaluation procedure depends on the consumer and the buying situation. Most buyers evaluate multiple attributes, each of which is weighted differently. At the end of the evaluation stage, purchase intentions are formed.
  18. 18. The Buyer DecisionProcess Purchase decision Two factors intercede between purchase intentions and the actual decision:  Attitudes of others  Unexpected situational factors
  19. 19. The Buyer DecisionProcess Post purchase behavior Satisfaction is important:  Delighted consumers engage in positive word-of- mouth.  Unhappy customers tell on average 11 other people. Cognitive dissonance is common