Here's my slide show on consumer behavior.

1. Consumer Behavior
By Tanner Thomas

2. Understanding consumerbehavior
• Tounderstandconsumerbehavior,wemust
askwhypeoplebuygoodsandservices.
• Generally,peoplebuyoneproductor
serviceoveranotherbecausetheyperceive
ittobeabettervalueforthem

3. Consumerdecisionprocess

4. Need Recognition
• This begins when a consumer recognizes they have an unsatisfied
need.
• Needs can be classified as;
-Functional, psychological, or both
• Functional needs pertain to the performance of aproduct/service
• Psychological needs pertain to personal gratification the consumer
associates with the product/service.

5. SearchFor Information
• This step involves a search for information regardingvarious
options that exist to satisfy a specific need
• Two types of searches;
-Internaland External
• Internalsearch is whena buyercan recall throughhis or herown
memoryabout a product/service gathered through past
experiences.
• External search is whena buyerseeks information outside of his or
herown knowledge. This can be by talking to friends and family or
looking online.

6. Factors Affecting Consumer’s Search Processes
• Thereare manyfactors that affect consumers’search processes;
-Perceivedbenefits vs. perceived cost
-TheLocus of Control (internal/external)
-Actual or perceived risk.
• Perceived benefits vs. cost is the time and effort it takes to search for
information about a product.
• Thelocus of control has two parts
-Internalis the belief that people havecontrol over their actions.
-Externalis the belief that fate determinesthe outcome.
• Actual or perceived risk is the risk involved when makinga purchasing
decision. Therearefive types.
The fivetypesofrisk include;
-Performance,financial,social,
physiologicalandpsychological.

7. Alternativeevaluation
Thisoccurs whiletheconsumer is engagedin thesearchfor
information. Therearea few contributingAttributeSets thathelp the
consumer make purchasingdecisions;
-Universalsets,Retrievalsets andEvoked sets.
• Universalsets includeall thepossible choices for a product.
• Retrievalsets arethebrandsor stores thatthe consumer can easily
recallfrom memory.
• Evoked sets arethebrandsor stores aconsumer would consider
whenmaking a purchase.

8. Purchaseandconsumption
After weighing out all the options, at this point
the consumer is ready to make a decision on
what to purchase. This can be done in stores
and online.

9. Post-purchase
This is the final step in the purchasing process.
There arethree possible post purchase outcomes;
-Customer satisfaction, post-purchase cognitive dissonance, and customer loyalty(or
disloyalty)
• Customer Satisfaction occurs when the consumer is pleased with his or her
purchase
• Post-purchase cognitive dissonance is an internal conflict that arises when a
consumer questions how appropriate the purchase was after the decision was
made. This is likely to happen when buying something expensive or when there is
a high level of risk involved.
• Customer loyalty is what marketers attempt to solidify with their target
market. They want consumers to be happy with their purchases so they will
continue to come back and buy more.

10. Conclusion
Whiletherearemanywaysa consumeris influenced to
makea purchasingdecision, such asneeds,attitudes,
andmotivestherearealsoenvironmental attributesthat
playaroleaswell. Things suchas lifestyle,society,
friends,family,media andsituationalfactors. Whatever
the casemaybe,it isimportanttounderstandhow
peopleprioritizetheir wants/needsandhowtheir
behaviorsaffectthis process.