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Chapter six
- 1. 6 Dr. Shahzad Ahmad Khan Assistant Professor In-charge Undergraduate (FMS) Email: shahzad.ahmad@riphah.edu.pk Riphah School of Leadership Faculty of Management Sciences Riphah International University Islamabad CHAPTER :6 Analyzing Consumer Markets
- 2. Chapter Questions • How do consumer characteristics influence buying behavior? • What major psychological processes influence consumer responses to the marketing program? • How do consumers make purchasing decisions?
- 5. What is Culture? Culture is the fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions.
- 8. What are the subcultures? 1.Nationalities 2.Religions 3.Racial Groups 4.Geographic Regions CulturalFactors
- 10. The Social Factors are subdivided into four groups: Consumer Family Status es Reference Groups Social Roles
- 11. Personal Factor Age Values Life cycle stage Occupation Personality Self- concept Wealth Lifestyle
- 12. What are the Personal Factors? Self- Concept How do they view themselves?
- 13. What are Personal Factors? 21 y.o Age What are their critical life events at their age?
- 14. What are Personal Factors? What are their current psychological life stages that matter? Life Cycle
- 15. What are Personal Factors? What are their consumption Patterns due to their current Occupations? Occupation
- 16. What are Personal Factors? How much are they willing To spend? Wealth
- 17. What are Personal Factors? What are their traits and characteristics? Personality
- 18. What are Personal Factors? What are the things that they believe in and are important to them? Values
- 19. What are Personal Factors? What would benefit them for their way of living? Lifestyle
- 20. 21 y . o In summary, all of these affect the consumer’s buying decision
- 22. The consumer’s mind responds according to… 1. Perception His interpretation of information 2. Motivation His drive to act 3. Learning His change in behavior due to experience 4. Memory His retention of experience and ideas
- 23. Perception Selective Attention means that marketers must work hard to attract consumers’ notice. Subliminal Perception The selective perception mechanisms require consumers’ active engagement and thought. Selective Retention we do retain information that supports our attitudes and beliefs Selective Distortion is the tendency to interpret information in a way that fits our preconceptions.
- 24. Motivation Freud’s Theory Behavior is guided by subconscious motivations Maslow’s Hierarchy of Needs Behavior is driven by the lowest, unmet need Herzberg’s Two-Factor Theory Behavior is guided by motivating and hygiene factors
- 25. Maslow’s Hierarchy of Needs
- 26. Figure 6.5 Successive Sets Involved in Consumer Decision Making
- 28. Figure 6.7 How Customers Use and Dispose of Products
- 29. Figure 6.1 Model of Consumer Behavior
- 30. THANKS
Editor's Notes
- A consumer’s decision to modify, postpone, or avoid a purchase decision is heavily influencedby one or more types of perceived risk:1. Functional risk—The product does not perform to expectations.2. Physical risk—The product poses a threat to the physical well-being or health of the useror others.3. Financial risk—The product is not worth the price paid.4. Social risk—The product results in embarrassment in front of others.5. Psychological risk—The product affects the mental well-being of the user.6. Time risk—The failure of the product results in an opportunity cost of finding another satisfactory product.