Analyzing Consumer Markets

1. Analyzing
Consumer Markets
Marketing Management, 13th
ed
6

2. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-2
Chapter Questions
• How do consumer characteristics
influence buying behavior?
• What major psychological processes
influence consumer responses to the
marketing program?
• How do consumers make purchasing
decisions?
• How do marketers analyze consumer
decision making?

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What Influences
Consumer Behavior?
• Cultural factors
• Social factors
• Personal factors

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What is Culture?
Culture is the fundamental determinant
of a person’s wants and behaviors
acquired through socialization
processes with family and other key
institutions.

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Subcultures
• Nationalities
• Religions
• Racial groups
• Geographic regions

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Fast Facts About
American Culture
• The average American:
• chews 300 sticks of gum a year
• goes to the movies 9 times a year
• takes 4 trips per year
• attends a sporting event 7 times each year

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Social Classes
• Upper uppers
• Lower uppers
• Upper middles
• Middle
• Working
• Upper lowers
• Lower lowers

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Characteristics of Social Classes
• Within a class, people tend to behave
alike
• Social class conveys perceptions of
inferior or superior position
• Class may be indicated by a cluster of
variables (occupation, income, wealth)
• Class designation is mobile over time

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Social Factors
• Reference groups
• Family
• Social roles
• Statuses

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Reference Groups
• Membership groups
• Primary groups
• Secondary groups
• Aspirational groups
• Disassociative groups

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Family Distinctions
Affecting Buying Decisions
• Family of Orientation
• Family of Procreation

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Personal Factors
• Age
• Life cycle stage
• Occupation
• Wealth
• Personality
• Values
• Lifestyle
• Self-concept

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Brand Personality
• Sincerity
• Excitement
• Competence
• Sophistication
• Ruggedness

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Lifestyle Influences
• Multi-tasking
• Time-starved
• Money-constrained

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Table 6.2 LOHAS (Lifestyles of Health
and Sustainability) Market Segments
• Sustainable Economy
• Healthy Lifestyles
• Ecological Lifestyles
• Alternative Health Care
• Personal Development

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Key Psychological Processes
• Motivation
• Perception
• Learning
• Memory

17. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-17
Motivation
Freud’s
Theory
Behavior
is guided by
subconscious
motivations
Maslow’s
Hierarchy
of Needs
Behavior
is driven by
lowest,
unmet need
Herzberg’s
Two-Factor
Theory
Behavior is
guided by
motivating
and hygiene
factors

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Maslow’s Hierarchy of Needs
• Physiological needs
• Safety needs
• Social needs
• Esteem needs
• Self-actualization needs

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Perception
• Selective attention
• Selective retention
• Selective distortion
• Subliminal perception

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Figure 6.4 Consumer Buying Process
• Problem recognition
• Information search
• Evaluation
• Purchase decision
• Postpurchase behavior

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Sources of Information
• Personal
• Commercial
• Public
• Experiential

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Non-Compensatory Models of Choice
• Conjunctive
• Lexicographic
• Elimination-by-aspects

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Perceived Risk
• Functional
• Physical
• Financial
• Social
• Psychological
• Time

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Other Theories of
Consumer Decision Making
Involvement
• Elaboration
Likelihood Model
• Low-involvement
marketing
strategies
• Variety-seeking
buying behavior
Decision Heuristics
• Availability
• Representativeness
• Anchoring and
adjustment

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Mental Accounting
• Consumers tend to…
• Segregate gains
• Integrate losses
• Integrate smaller losses with larger gains
• Segregate small gains from large losses