Consumer behavior part 1 purchasing process and consumer as decision maker final

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Join AIPMM Anthropologist Paula Gray for her 3 part, in depth webcast series on consumer behavior. Part 1 is all about the product purchasing process. What drives a person's decision to purchase a product? All purchase decisions are made by people, either an individual or a group, but always people. This is one of the most crucial human behaviors to understand as a product manager and as a product marketer. Whether it’s in the design of a new product or keeping a current one competitive, understanding why your customers buy will help you stay ahead. You can use this information to inform your marketing strategy, create more relevant messaging and improve your social media strategy. This information is relevant for both tangible goods and intangible services. Equip yourself with the tools and knowledge for a deep understanding of what drives people through the purchase process.

Marketing

AIPMM Webinar Series
Consumer Behavior:
The Purchasing Process and Consumer as
Decision Maker
(Part 1 of 3)

Paula Gray
AIPMM Director of Research & Knowledge Development
Applied Anthropologist
Our Speaker

People don’t
buy goods or
services,
they buy
BENEFITS QualityBrand
Functionality
PackagingDesign
Guarantee /
Warranty
Customer
Support
Delivery
Payment
Terms
Education
& Training
Main-
tenance
& Care
Assembly
&
Installation
On-site
Service
Core-
Product
Actual Product
(Product appearance)
Customer benefit
(Goods or service)
Extended Product
(Product related service)

Different people seek different benefits
in different situations

Market
Segmentation
Natural grouping of consumers
seeking similar benefits
◦Behave in similar ways
◦Make similar decisions in similar
situations

Segment
Bounding
The methods used to differentiate
consumers and market segments
◦Descriptors
◦Location
◦Time

Segment
Viability
Evaluating the identified segment
using specific criteria
◦Sufficient Size
◦Measurable
◦Clearly Differentiated
◦Reachable

Product
Positioning
Aligning a product’s actual or
perceived benefits with the
benefits sought by a particular
segment
◦Based on Characteristics
◦Based on Image
◦Positioned Against Competitor
◦Combination of the Above

So how do consumers choose between
seemingly similar goods and services?

Problem or
Opportunity
Recognition
Recognizing need or want
◦Actual versus desired state

Triggers for
Problem or
Opportunity
Recognition
Situational
Consumer
Marketing

Types of
Information
Search
Internal Information Search
External Search Strategy
◦Limiting search to manageable level
◦Information sources and
believability

Planned
Versus
Unplanned
Purchase
Planned
◦Specifically Planned
◦Generally Planned
◦Substitute
Unplanned
◦Pure Impulse
◦Reminder Impulse
◦Suggestion Impulse
◦Planned Impulse

Choice and
Shopping
Behavior
The Shopping Process
Choice Decision Making

Goods and
Service
Consumption
Consumption Situation
Ritual Consumption
Sacred and Profane Consumption
Compulsive Consumption
Deception in Consumption Self-
Reporting

Consumption
Effects on
Satisfaction
Satisfaction versus dissatisfaction
Expectation and satisfaction
Performance and satisfaction
How marketers can close the gap
between expectation and
performance

Cognitive
Dissonance
◦ Consumers and marketers attempt to
reduce dissonance

Post-Purchase
Behavior
Customer Loyalty
Word of Mouth
Negative Post-Purchase Behavior

Product
Disposal
Role of Marketer
Role of Consumer

Summary Consumers Buy Benefits
We Segment Those Consumers
Based on Behavior
We Target Those Segments
Then, It’s Up to the Consumer as
They Go Through the Process:
◦Need Recognition
◦Information Search
◦Evaluation of Alternatives
◦Choice/Purchase
◦Consumption/Post Purchase

July 14, Part 2 of 3
"Psychological
Influences on
Purchase Decision
Making“
August 11, Part 3 of 3
"Socio-Cultural
Influences on
Purchase Decision
Making"
You can reach me:
paula.gray@aipmm.com

Upcoming Webcast
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June 30, 2017 12pm Eastern/9am Pacific
WWW.AIPMM.COM/NEW-EVENTS
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Membership: http://www.aipmm.com/join
Certification: http://aipmm.com/certification

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The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives. Key Takeaways: Understand how search engines work Be able to find out where your users search Know what is required for each discipline of SEO Feel confident creating an SEO Plan Confidently measure SEO performance

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Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business. Key Takeaways: Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.

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Consumer behavior part 1 purchasing process and consumer as decision maker final

1. AIPMM Webinar Series Consumer Behavior: The Purchasing Process and Consumer as Decision Maker (Part 1 of 3)

2. Paula Gray AIPMM Director of Research & Knowledge Development Applied Anthropologist Our Speaker

3. Consumer Benefits

4. People don’t buy goods or services, they buy BENEFITS QualityBrand Functionality PackagingDesign Guarantee / Warranty Customer Support Delivery Payment Terms Education & Training Main- tenance & Care Assembly & Installation On-site Service Core- Product Actual Product (Product appearance) Customer benefit (Goods or service) Extended Product (Product related service)

5. Different people seek different benefits in different situations

6. Market Segmentation Natural grouping of consumers seeking similar benefits ◦Behave in similar ways ◦Make similar decisions in similar situations

7. Segment Bounding The methods used to differentiate consumers and market segments ◦Descriptors ◦Location ◦Time

8. Segment Viability Evaluating the identified segment using specific criteria ◦Sufficient Size ◦Measurable ◦Clearly Differentiated ◦Reachable

9. Product Positioning Aligning a product’s actual or perceived benefits with the benefits sought by a particular segment ◦Based on Characteristics ◦Based on Image ◦Positioned Against Competitor ◦Combination of the Above

10. So how do consumers choose between seemingly similar goods and services?

11. Consumer Decision Making Process

12. Problem or Opportunity Recognition

13. Problem or Opportunity Recognition Recognizing need or want ◦Actual versus desired state

14. Triggers for Problem or Opportunity Recognition Situational Consumer Marketing

15. Information Search

16. Types of Information Search Internal Information Search External Search Strategy ◦Limiting search to manageable level ◦Information sources and believability

17. Evaluating Alternatives

18. Alternative Evaluation Consumer benefits and evaluation criteria Price, brand and country of origin as evaluation criteria Consumer decision rules Initial commitment by consumers

19. Planned Versus Unplanned Purchase Planned ◦Specifically Planned ◦Generally Planned ◦Substitute Unplanned ◦Pure Impulse ◦Reminder Impulse ◦Suggestion Impulse ◦Planned Impulse

20. Choice

21. Choice Outlet Selection Outlet or Brand? Outlet Image How Consumers Choose Between Outlets

22. Choice and Shopping Behavior The Shopping Process Choice Decision Making

23. Consumption and Post- Purchase Behavior

24. Goods and Service Consumption Consumption Situation Ritual Consumption Sacred and Profane Consumption Compulsive Consumption Deception in Consumption Self- Reporting

25. Consumption Effects on Satisfaction Satisfaction versus dissatisfaction Expectation and satisfaction Performance and satisfaction How marketers can close the gap between expectation and performance

26. Cognitive Dissonance ◦ Consumers and marketers attempt to reduce dissonance

27. Post-Purchase Behavior Customer Loyalty Word of Mouth Negative Post-Purchase Behavior

28. Product Disposal Role of Marketer Role of Consumer

29. Summary Consumers Buy Benefits We Segment Those Consumers Based on Behavior We Target Those Segments Then, It’s Up to the Consumer as They Go Through the Process: ◦Need Recognition ◦Information Search ◦Evaluation of Alternatives ◦Choice/Purchase ◦Consumption/Post Purchase

30. July 14, Part 2 of 3 "Psychological Influences on Purchase Decision Making“ August 11, Part 3 of 3 "Socio-Cultural Influences on Purchase Decision Making" You can reach me: paula.gray@aipmm.com

31. Upcoming Webcast Untangling the MVP in Lean Product Validation June 30, 2017 12pm Eastern/9am Pacific WWW.AIPMM.COM/NEW-EVENTS Topic Suggestions: support@aipmm.com Website: http://www.aipmm.com LinkedIn: http://www.linkedin.com/company/aipmm Membership: http://www.aipmm.com/join Certification: http://aipmm.com/certification

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