Mkt3050 – consumer behavior week 3 april 2, 2012

1,586 views

Published on

Published in: Technology, Self Improvement
  • Be the first to comment

  • Be the first to like this

Mkt3050 – consumer behavior week 3 april 2, 2012

  1. 1. MKT3050 – Consumer Behavior Week 3 – April 2, 2012
  2. 2. <ul><li>What are motivations?? </li></ul>Consumer Value Framework (CVF)
  3. 3. Other Internal Influences that Affect Consumer Behavior… or what characteristics can marketers identify that are linked to a likely purchase? <ul><li>Personality, Lifestyles, Self-Concept </li></ul><ul><li>Personality = the sum of thoughts, emotions, intentions and behaviors a person exhibits as he or she adapts to the environment </li></ul><ul><ul><li>It is who you are! </li></ul></ul><ul><ul><ul><li>Helps explain why you value classical music while someone else likes rock & roll </li></ul></ul></ul><ul><li>Personality is… </li></ul><ul><ul><li>Unique </li></ul></ul><ul><ul><li>A combination of traits </li></ul></ul><ul><ul><ul><li>Traits are relatively stable and remain consistent across situations </li></ul></ul></ul><ul><li>BUT – personality DOESN’T predict behavior over time </li></ul>
  4. 4. Theories about Personality <ul><li>Psychoanalytic Approach (Freud) </li></ul><ul><ul><li>He proposed that we seek hedonic value (pleasure) that’s regulated by our conscience OR our superego (the part of us that’s concerned with society) </li></ul></ul><ul><ul><li>This led to an era of motivational research…. </li></ul></ul><ul><ul><ul><li>“ how do you feel about…’’ </li></ul></ul></ul><ul><ul><li>No compelling or practical theories / guidelines </li></ul></ul>Id pleasure principle Superego consumer conscience Ego reality principle
  5. 5. Theories about Personality <ul><li>Trait Approach </li></ul><ul><ul><li>A trait is a characteristic that describes one’s tendency to act consistently. </li></ul></ul><ul><ul><li>We can look for unique traits (hard to market to) </li></ul></ul><ul><ul><li>OR we can look for common traits </li></ul></ul><ul><ul><ul><li>Either single trait </li></ul></ul></ul><ul><ul><ul><li>Or Multiple traits </li></ul></ul></ul><ul><li>The goal of the trait approach is to be able to identify consumers’ traits – then link those traits with their purchase interest. </li></ul><ul><ul><li>Helps with messaging (giving a brand a ‘personality’) </li></ul></ul><ul><ul><li>BUT not predictive of behavior because traits can be common across many groups </li></ul></ul>
  6. 6. Which Traits have been Studied? <ul><li>Value consciousness – you want to maximize what you receive </li></ul><ul><li>Materialism – goods are important to you – shows up as possessiveness, non-generosity, envy </li></ul><ul><li>Innovativeness – openness to new ideas </li></ul><ul><ul><li>Typically young, dynamic, curious, educated, affluent </li></ul></ul><ul><li>Need for cognition (need to think) </li></ul><ul><ul><li>If need is high, then facts, details are important in messaging </li></ul></ul><ul><ul><li>If need is low, then imagery, attractiveness, humor are effective </li></ul></ul><ul><li>Competitiveness – need to be better than others – easy to identify! </li></ul><ul><li>http://www.youtube.com/watch?v=KjCWr8y1GzM </li></ul><ul><li>See page 113 – Exhibit 6.1 for additional traits that have been studied. </li></ul>
  7. 7. Exhibit 6.2 Five-Factor Model See page 114 Exhibit 6.3 !
  8. 8. Other Internal Influences that Affect Consumer Behavior… or what characteristics can marketers identify that are linked to a likely purchase? <ul><li>Personality, Lifestyles, Self-Concept </li></ul><ul><li>Lifestyles </li></ul><ul><ul><li>The way consumers live and spend their money </li></ul></ul><ul><ul><ul><li>These are context-specific personality traits </li></ul></ul></ul><ul><ul><ul><li>Can be tied to purchase and consumption </li></ul></ul></ul><ul><ul><ul><ul><li>Lifestyles are useful for identifying market segments </li></ul></ul></ul></ul><ul><ul><ul><ul><li>http://www.youtube.com/watch?v=Sru_8iMeTxA </li></ul></ul></ul></ul><ul><ul><ul><ul><li>http://www.youtube.com/watch?NR=1&v=GipRpPNRCc0&feature=endscreen </li></ul></ul></ul></ul><ul><ul><li>Psychographics are the way lifestyles are measured </li></ul></ul><ul><ul><ul><li>This extends beyond demographics (age, income, gender) to include Activities, Interests and Opinions </li></ul></ul></ul>
  9. 9. Measuring Lifestyles VALS system Thinkers have a moderate respect for institutions of authority and social decorum but are open to consider new ideas. Although their incomes allow them many choices, Thinkers are conservative, practical consumers; they look for durability, functionality, and value in the products that they buy. Motivated by the desire for achievement, Achievers have goal-oriented lifestyles and a deep commitment to career and family. Their social lives reflect this focus and are structured around family, their place of worship, and work. Achievers live conventional lives, are politically conservative, and respect authority and the status quo. They value consensus, predictability, and stability over risk, intimacy, and self-discovery.                                  With many wants and needs, Achievers are active in the consumer marketplace. Image is important to Achievers; they favor established, prestige products and services that demonstrate success to their peers. Because of their busy lives, they are often interested in a variety of time-saving devices. http://www.strategicbusinessinsights.com/vals/presurvey.shtml#start
  10. 10. Measuring Lifestyles PRIZM system
  11. 11. Measuring Lifestyles PRIZM system
  12. 12. Other Internal Influences that Affect Consumer Behavior… or what characteristics can marketers identify that are linked to a likely purchase? <ul><li>Personality, Lifestyles, Self-Concept </li></ul><ul><li>Self-Concept </li></ul><ul><ul><li>The thoughts and feelings an individual has about him or herself </li></ul></ul><ul><ul><ul><li>Your Identity! </li></ul></ul></ul><ul><ul><ul><ul><li>We look at typical users of a product and choose those that match our self-image </li></ul></ul></ul></ul><ul><li>Why is understanding self-concept important? </li></ul><ul><ul><li>Consumers ACT according to their self-concepts </li></ul></ul><ul><ul><li>The products they use can reveal their identity </li></ul></ul><ul><ul><ul><li>Which types of products seem linked to self-concept?? </li></ul></ul></ul><ul><ul><ul><li>http://www.youtube.com/watch?v=rv5bN7WgaY4 </li></ul></ul></ul><ul><ul><ul><li>http://www.youtube.com/watch?v=b0AGiq9j_Ak </li></ul></ul></ul><ul><ul><ul><li>http://www.youtube.com/watch?v=gUsKIApTewQ </li></ul></ul></ul>
  13. 13. We Have Many Self-Concepts Ideal self Ideal social self Extended self Actual self Social self Possible self ©ISTOCKPHOTO.COM/NICHOLAS MONU
  14. 14.
  15. 15. Why are Consumer Attitudes Important to Marketers? <ul><li>Positive attitudes lead to… </li></ul><ul><ul><li>Purchase! </li></ul></ul><ul><ul><li>Promotion of the product to others </li></ul></ul><ul><ul><li>Assessment of good value </li></ul></ul><ul><li>What is an attitude? </li></ul><ul><ul><li>Relatively enduring evaluations of products, services, people or issues </li></ul></ul><ul><ul><li>Motivate people to behave in relatively consistent ways </li></ul></ul>
  16. 16. Exhibit 7.1 What do Attitudes do for Consumers?
  17. 17. What are the components of attitudes? A ffect: “I really like my iPad.” (feelings) B ehavior: “I always buy Apple products.” C ognition: “My iPad helps me to study.” (beliefs) ©OLEKSIY MAKSYMENKO PHOTOGRAPHY/ALAMY
  18. 18. How do these components form attitudes? Depends on the purchase context <ul><li>High Involvement purchases – choosing a hospital </li></ul><ul><ul><li>Develop beliefs feelings choice </li></ul></ul><ul><li>Low involvement purchases – buying dish soap </li></ul><ul><ul><li>Develop beliefs choice feelings </li></ul></ul><ul><li>Experiential purchases – Chuck ‘e Cheese </li></ul><ul><ul><li>Have feelings choice belief </li></ul></ul><ul><li>Behavioral purchase – a hot day at the park, seek a cold drink </li></ul><ul><ul><li>Make a choice belief feelings </li></ul></ul>
  19. 19. Consumer Attitude Models Attitude-Toward-the-Object (ATO) Model <ul><li>The ATO Model proposes that three key elements be assessed to understand and predict consumer behavior. </li></ul><ul><ul><li>Consumer beliefs about the features the product is likely to have </li></ul></ul><ul><ul><li>The strength of the consumer belief that a certain brand has those features </li></ul></ul><ul><ul><li>Evaluation of the attributes relative importance </li></ul></ul><ul><li>ATO Formula: </li></ul>
  20. 20. Exhibit 7.3: Attitude-Toward-the-Object Model Applied to Fitness Center Choice <ul><li>NOTE: attitudes don’t always predict behavior… more likely to for high involvement purchases not limited by situation and where strong attitudes exist. </li></ul>
  21. 21. Consumer Attitude Models Behavior Intention Model
  22. 22. Factors Affecting Attitude-Behavior Models <ul><li>Accuracy of measurement – and predictive ability – of models is affected by: </li></ul><ul><ul><li>Length of time between measuring attitudes and intended purchase – don’t ask a 10 year-old where they want to go to college </li></ul></ul><ul><ul><li>Time pressure – rushed / impulse decisions may not reflect attitudes </li></ul></ul>
  23. 23. How can Attitudes be Changed? <ul><li>By changing beliefs – improving good ones, diminishing bad ones through messaging </li></ul><ul><li>Adding an important benefit </li></ul><ul><li>By changing behaviors through marketing stimuli </li></ul><ul><li>By creating positive feelings to generate positive attitudes </li></ul>
  24. 24. How can Attitudes be Changed? <ul><li>By changing beliefs – improving good ones, diminishing bad ones through messaging </li></ul><ul><li>Adding an important benefit </li></ul><ul><li>By changing behaviors through marketing stimuli </li></ul><ul><li>By creating positive feelings to generate positive attitudes </li></ul>
  25. 25. How can we change Attitudes? Social Judgment Theory <ul><li>Use messaging that is closely linked to existing attitudes. Find out what’s acceptable to consumers and deliver that through benefits / messaging. </li></ul><ul><li>Example: </li></ul><ul><ul><li>Today Only: 3 carat diamond ring -- $1,000 </li></ul></ul><ul><ul><li>Your reaction? ‘too good to be true’? </li></ul></ul>
  26. 26. How can Attitudes be Changed? <ul><li>By changing beliefs – improving good ones, diminishing bad ones through messaging </li></ul><ul><li>Adding an important benefit </li></ul><ul><li>By changing behaviors through marketing stimuli </li></ul><ul><li>By creating positive feelings to generate positive attitudes </li></ul>Mauri Pioppo is a renowned jewelry designer, yoga instructor and former smoker whose pieces have been worn by some of the world’s most glamorous women, including Eva Longoria, Debra Messing and Sheryl Crow. Her latest creation, which will be available exclusively at Westin.com, supports the wearer’s commitment to personal renewal and to living smoke-free. The concept of personal renewal is about improving the body, mind and spirit, and is at the center of all of Westin’s activities, from its signature White Tea scent to its Heavenly Bed
  27. 27. How can we change Attitudes? The Elaboration Likelihood Model <ul><li>Effect on attitudes depends on the level of involvement – the more involved consumer will respond to direct cues (central messaging) and change beliefs </li></ul><ul><li>The less involved consumer relies on peripheral cues – images, sources – and any change in attitude is likely to be temporary. </li></ul>
  28. 28. How can Attitudes be Changed? <ul><li>By changing beliefs – improving good ones, diminishing bad ones through messaging </li></ul><ul><li>Adding an important benefit </li></ul><ul><li>By changing behaviors through marketing stimuli </li></ul><ul><li>By creating positive feelings to generate positive attitudes </li></ul>
  29. 29. How can we change Attitudes? Balance Theory <ul><li>Link a known positive source or endorser with your product </li></ul>

×