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Analyzing Consumer Markets
This document outlines key concepts related to consumer buyer behavior and the consumer decision-making process. It discusses how cultural, social, and personal characteristics influence consumer behavior. It also describes the consumer buying process and different types of buying decisions. The central concept is a model of consumer behavior that shows how marketing and other stimuli interact with a consumer's characteristics and decision process to influence their responses.
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Overview of Marketing Management and the focus on consumer characteristics in buying behavior.
Learning objectives include understanding consumer characteristics, psychological processes, and decision-making.
Definition of consumer buyer behavior and consumer market, focusing on individual and household purchases.
Illustration of stimuli impacting buyer's decision processes, including psychological and marketing influences.
Key factors to study include buyer characteristics, types of buying behavior, and decision processes.
Cultural, social, personal, and psychological factors that impact consumer behavior and decision-making.
Different buying behaviors identified: complex, dissonance-reducing, habitual, and variety-seeking.
Comparison of buying behaviors distinguished by involvement level and perceived differences among brands.
Five stages of the consumer buying process: problem recognition, information search, evaluation, purchase decision, postpurchase behavior.
Buyer decision process specifically for new products, detailing how consumers adopt innovations.
Five stages in the adoption process for new products: awareness, interest, evaluation, trial, and adoption.
Detailed exploration of consumer behavior factors, including psychological aspects and types of buying decision behaviors.
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Analyzing Consumer Markets
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- 2. LEARNING OBJECTIVES Afterreading this chapter, students should: Know how consumer characteristics influence buying behavior Know what major psychological processes influence consumer responses to the marketing program Know how consumers make purchasing decisions Know how marketers analyze consumer decision making
- 3. Consumer Buyer Behavior & ConsumerMarket Consumer Buyer Behavior The buying behavior of final consumers—individuals and households who buy goods and services for personal consumption. Consumer Market All the individuals and households who buy goods and services for personal consumption.
- 4. Model of ConsumerBehavior Marketing and other stimuli Marketing Other Product Economic Price Technological Place Political Promotion Cultural Buyer’s Black Box Buyer Buyer Characteristics decision process Buyer Responses Product choice Brand choice Dealer choice Purchase timing Purchase amount
- 5. What do weneed to study to understand the black box? Characteristics affecting Buyer Behavior Types of Buying Behavior Buyer Decision process
- 6. Characteristics/Factors Affecting Consumer Behavior Cultural Culture Subculture SocialClass Social Reference groups Family Roles and Status Personal Age & Lifecycle Occupation Economic situation Lifestyle Personality And self-concept Psychological Motivation Perception Learning Beliefs & Attitudes Buyer
- 7. Types of BuyingDecision Behaviors Complex Buying behavior. Dissonance – Reducing Buying Behavior Habitual Buying Behavior. Variety-seeking Buying Behavior.
- 8. Complex Buying behavior Variety seeking Buying behavior Dissonancereducing Buying behavior Habitual Buying behavior High Involvement low involvement Significantdifferences betweenbrands Fewdifferences betweenbrands
- 9. Figure 6.4 ConsumerBuying Process Problem Recognition Information Search Evaluation Purchase Decision Postpurchase Behavior
- 10. Buyer decision processfor new products New products: A good , service , or idea that is perceived by some potential customers as new: Adoption process: The mental process through which an individual passes from first hearing about an innovation to final adoption
- 11. Stages oadoption process: Awareness Interest Evaluation Trial Adoption
- 12. Consumer Behavior Cultural Social •Age & Lifecycle •Occupation •Economic •situation •Lifestyle •Personality selfconcept •Motivation •Maslow’s Hierarchy of Needs •Perception •Learning •Beliefs & •Attitudes Culture Subculture Social Class Nationalities Religions Racial groups Geographic regions Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers Reference groups •Membership groups •Primary groups •Secondary groups •Aspiration groups •Dissociative groups Family •Family of Orientation •Family of Procreation Roles and Status Personal Psychologic al Types of Buying Decision Behaviors •Complex Buying behavior. •Dissonance – Reducing Buying Behavior •Habitual Buying Behavior. •Variety-seeking Buying Behavior. •Problem Recognition •Information Search •Personal •Public •Experiential •Commercial •Evaluation •Purchase Decision •Post purchase Behavior Consumer Buying Process
Editor's Notes
- #3 Consumer make a lot of purchasing on daily basis and it is the main focus of the marketrs efforts, in means it is the main hub of the marketers efforts, most of the companies perform research on consumer buying behavior to find out What they buy Where they buyHow they buyWhen they buy Why they buyMarketers do study actual buying behavior to have the ans of what they buy where they buy how they buy and when they buy but one of the most important question still there why they buy, finding the ans of this question is not so easy because it prevail in the mind of he customer.
- #4 Consumer Buyer Behavior: The process by which individualssearch for, select, purchase, use, and dispose of goods and services, in satisfaction of their needs and wants. See also consumer decision making.
- #5 Consumer black box: a model used in the study of the buying behavior of consumers; the model assumes that what takes place in the consumer's "black box" of the consumer's mind can be inferred from a study of observed stimuli and responses. Most of the time consumer don’t know actualy what does affect on their purchases , what factors does influence , one of the marketing expert says that mind is like a computer with storage comoponets where brand logos and product information is being stored and can be accessed cleverly through ads and promotional materialThe centeral question for the marketer is that how does customers of consumers responed to the certain marketing activities they
- #7 Culture : the set of basis values perceptions wants and behaviors learned by a member through society and the marketers should also focus on the cultural shifts if they are unable to do it successfully so results will be quite different from their expectations (for example: the recent cultural shift is towards health conscionusness , and fitness which ehnace the demand of excriseing equipment and less fat food as well as casual colthing .. Another example off culutural shift is the cosmetic use of males , for looking more fair and attractive this cultural trend is being analysis by the emni fair men ganinrnivea for men.Subculture: a group of people who shared smilliar values wants and buying behaviors .. It can be on religious like hindu , muslimchirstan and marketers developed their product according to their regional need and other example of the sub culture is the region provide interesting basis such as punjab in pakistan it belongs more than 60 percent of pakistanspoplution from punjab , they are more religious, sufi , extro word wants to enjoy their lives and this fact represents in their life style clothing and celebraltions like basant, marriages and bangra dances.Social classes are relatively perment division of the socity not only one basis like income also on the other factors like education, lifestyle and wealth.Reference group = aspirational groups ( to whom we belong is the membership group)Youngstars like to be like wasimakram and shahidafridiOpionion leader from p And G Vocal point strategy :Family : brookee bond red label india
- #9 1. Complex buying behavior: high involvement purchase high price but no clear difference about the product example : computers2. Dissonance reducing buying behavior: high involvement decision with little difference between the products.. Example : furniture items3. Variety seeking buying behavior: low involvement decision but significance product difference in such case switching is high example: biscuit purchase4.Habitual buying behavior : when decision making become habit like purchasing of salt.