Week 4

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Week 4

  1. 1. Week 4 “Consumer BuyerBehaviour”Chapter 5
  2. 2. What is consumer behaviour? Consumer behaviour is influenced by two major factors:1. External to consumer – cultural and social2. Internal to the consumer – Psychological and personal** Having a clear understanding of the factors at workinfluencing consumer behaviour can assist businesses in theirmarketing management.
  3. 3. External Consumer influences social class and culture – set of beliefs, customs Where a person is raised, who is involved in their upbringing and the culture that surrounds their experiences Social class structures
  4. 4. Internal Consumer Influences Psychological factor – motivation, perception, learning, beliefs and attitudes_Plays a role in defining why consumers behave in certainways Consumers may be motivated on an immediate need; food, money clothing etc. or they may be motivated on a want (car, boat, bigger house) Whatever the motivation marketers can use this opportunity to meet the need or want.
  5. 5. Buying Decisions Research has shown that consumers will demonstrate one of four behaviours when they are involved in a purchasing decision.1. Complex buying behaviour2. Dissonance reducing behaviour3. Habitual buying behaviour4. Variety seeking behaviour
  6. 6. Complex buying behaviour a lot of information is gathered Decision has high financial risk Buyer heavily involved in decision making process Alternatives are thoroughly investigatedExamples of this behaviour include: buying a car, house,technology
  7. 7. Dissonance Reducing behaviour when consumers are looking to purchase an expensive yet infrequent purchase where there is little perceived difference between brands Buyers highly involved in decision making process Being fully informed before making a final choiceExamples: Purchase of an engagement ring, typically it is aonce off buy and is expensive and there is relatively littledifference between diamond suppliers.
  8. 8. Habitual Buying Behaviour Can be seen when a consumer engages in a regular purchase such as a newspaper or coffee. These purchases are routine, tradition based Consumers do not need to engage heavily with the decision on a regular basis
  9. 9. Variety Seeking Behaviour when a consumer likes an alternative between various choices to experiment with products or services on the market. Customers will shop around to source the various options available Often enjoy trying the different products and services sampledExample: looking for food available in a food court or scour thesupermarket shelves for the snack options.
  10. 10. Stages of the Buying DecisionProcess Five stages of interaction by consumer when purchasing:1. Need recognition2. Information search3. Evaluation of alternatives4. Purchase decision5. Post purchase behaviour
  11. 11. Need recognition Consumer wants a need or want to be satisfied Type of need depends on the extent the of effort the individual will go to in order to resolve the need.
  12. 12. Information Search information by prior knowledge or seeking vigorous search for info. Maybe through friends, family, professional services and other public info.
  13. 13. Evaluation of Information Evaluate information gathered Forms an important pre purchase stage; pros and cons of each alternative are weighed and considered Consumer will have their own criteria for the purchase and it is against this criteria that each alternative will be regarded
  14. 14. Purchase decision Choice is made Maybe be result of elimination and best possible alternative considered Time pressures, money, other external influences might push final decision Nature of decision will depend on how much time is given to the final purchase decision
  15. 15. Post Purchase Consumer reflects on purchase Cognitive Dissonance – when consumer feels unsure post purchase that they had made the right decision

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