principle of Marketing chapter 09

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  • Purchase decisions vary in terms of consumer effort and amount of deliberation. High involvement purchases lead to more active, careful decision making. The involvement or interest is based on perceived risks in the purchase. A baby seat purchase is likely to be high in safety risks and a wedding dress has high levels of social risk. Both of these risks generate high involvement and more careful buying.
  • Most purchases are not highly involving. For example, grocery items are bought as quickly and efficiently as possible because prices and risks are low.
  • principle of Marketing chapter 09

    1. 1. Chapter 5- slide 1 Week 10 Consumer Markets and Consumer Buyer Behavior
    2. 2. Chapter 5- slide 2 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Consumer Markets and Consumer Buyer Behavior • Model of Consumer Behavior • Characteristics Affecting Consumer Behavior • Types of Buying Decision Behaviors • The Buyer Decision Process • The Buyer Decision Process for New Products Topic Outline
    3. 3. Chapter 5- slide 3 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Consumer buyer behavior refers to the buying behavior of final consumers—individuals and households who buy goods and services for personal consumption Consumer market refers to all of the personal consumption of final consumers Model of Consumer Behavior
    4. 4. Chapter 5- slide 4 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Model of Consumer Behavior
    5. 5. Chapter 5- slide 5 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Factors Influencing Consumer Behavior
    6. 6. Chapter 5- slide 6 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Culture is the learned values, perceptions, wants, and behavior from family and other important institutions Characteristics Affecting Consumer Behavior Cultural factors
    7. 7. Chapter 5- slide 7 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Subcultures are groups of people within a culture with shared value systems based on common life experiences and situations For example: • Bengalis • Gujaratis • Punjabis
    8. 8. Chapter 5- slide 8 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Social classes are society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors • Measured by a combination of occupation, income, education, wealth, and other variables Characteristics Affecting Consumer Behavior
    9. 9. Chapter 5- slide 9 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Social Factors Groups and Social Networks
    10. 10. Chapter 5- slide 10 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior • Word-of-mouth influence and buzz marketing – Opinion leaders are people within a reference group who exert social influence on others – Also called influentials or leading adopters – Marketers identify them to use as brand ambassadors Groups and Social Networks
    11. 11. Chapter 5- slide 11 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior • Online Social Networks are online communities where people socialize or exchange information and opinions • Include blogs, social networking sites (facebook), virtual worlds (second life) Groups and Social Networks
    12. 12. Chapter 5- slide 12 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior • Family is the most important consumer- buying organization in society • The groups, family, clubs, and organizations that a person belongs to define his/her social role and status
    13. 13. Chapter 5- slide 13 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior • Age and life-cycle stage • RBC Royal Band stages – Youth: younger than 18 – Getting started: 18–35 – Builders: 35–50 – Accumulators: 50–60 – Preservers: over 60 Personal Factors
    14. 14. Chapter 5- slide 14 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Occupation affects the goods and services bought by consumers Economic situation includes trends in: Personal Factors
    15. 15. Chapter 5- slide 15 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Lifestyle is a person’s pattern of living as expressed in his or her psychographics • Measures a consumer’s AIOs (activities, interests, opinions) to capture information about a person’s pattern of acting and interacting in the environment Personal Factors
    16. 16. Chapter 5- slide 16 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior • Personality and self-concept – Personality refers to the unique psychological characteristics that lead to consistent and lasting responses to the consumer’s environment Personal Factors
    17. 17. Chapter 5- slide 17 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Psychological Factors
    18. 18. Chapter 5- slide 18 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior A motive is a need that is sufficiently pressing to direct the person to seek satisfaction Motivation research refers to qualitative research designed to probe consumers’ hidden, subconscious motivations Psychological Factors Motivation
    19. 19. Chapter 5- slide 19 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Maslow’s Hierarchy of Needs
    20. 20. Chapter 5- slide 20 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Perception is the process by which people select, organize, and interpret information to form a meaningful picture of the world from three perceptual processes – Selective attention – Selective distortion – Selective retention Psychological Factors
    21. 21. Chapter 5- slide 21 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Selective attention is the tendency for people to screen out most of the information to which they are exposed Selective distortion is the tendency for people to interpret information in a way that will support what they already believe Selective retention is the tendency to remember good points made about a brand they favor and forget good points about competing brands Psychological Factors
    22. 22. Chapter 5- slide 22 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior • Learning is the change in an individual’s behavior arising from experience and occurs through interplay of: Psychological Factors
    23. 23. Chapter 5- slide 23 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Belief is a descriptive thought that a person has about something based on: • Knowledge • Opinion • Faith Psychological Factors Beliefs and Attitudes
    24. 24. Chapter 5- slide 24 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Attitudes describe a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea Psychological Factors
    25. 25. Chapter 5- slide 25 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Types of Buying Decision Behavior
    26. 26. Chapter 5- slide 26 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall High Involvement Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
    27. 27. Chapter 5- slide 27 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Low Involvement Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
    28. 28. Chapter 5- slide 28 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Types of Buying Decision Behavior Four Types of Buying Behavior
    29. 29. Chapter 5- slide 29 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process Buyer Decision Making Process
    30. 30. Chapter 5- slide 30 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process • Occurs when the buyer recognizes a problem or need triggered by: – Internal stimuli – External stimuli Need Recognition
    31. 31. Chapter 5- slide 31 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process • Personal sources—family and friends • Commercial sources—advertising, Internet • Public sources—mass media, consumer organizations • Experiential sources—handling, examining, using the product Information Search Sources of Information
    32. 32. Chapter 5- slide 32 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process • How the consumer processes information to arrive at brand choices Evaluation of Alternatives
    33. 33. Chapter 5- slide 33 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process • The act by the consumer to buy the most preferred brand • The purchase decision can be affected by: – Attitudes of others – Unexpected situational factors Purchase Decision
    34. 34. Chapter 5- slide 34 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process • The satisfaction or dissatisfaction that the consumer feels about the purchase • Relationship between: – Consumer’s expectations – Product’s perceived performance • The larger the gap between expectation and performance, the greater the consumer’s dissatisfaction • Cognitive dissonance is the discomfort caused by a post-purchase conflict Post-Purchase Decision
    35. 35. Chapter 5- slide 35 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process Customer satisfaction is a key to building profitable relationships with consumers— to keeping and growing consumers and reaping their customer lifetime value Post-Purchase Decision
    36. 36. Chapter 5- slide 36 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process for New Products Adoption process is the mental process an individual goes through from first learning about an innovation to final regular use. • Stages in the process include:
    37. 37. Chapter 5- slide 37 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Time of adoption of Innovations
    38. 38. Chapter 5- slide 38 THE END

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