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Consumer Behavior: Point Of View
- 1. This Photo by Unknown Author is licensed under CC BY Consumer Behavior Mia Pridemore
- 2. • CONSUMER BEHAVIOR: • “The study of how people- individual/groups- acquire, use, experience, discard, and make decisions about goods, services, or even lifestyle practices”(Pernel).
- 3. The Psychology of Marketing • The Psychology of how the consumer is influenced by his or her environment • Environment: Culture, Family, Signs, Media • Limitations in consumer knowledge influences decisions and marketing outcome.
- 4. Four Main Applications of Consumer Behavior Marketing Strategy: The process of making better marketing campaigns. Social Marketing: Promoting an idea to consumers rather than selling something. Target market: Identifying the correct consumer segment. Finance: Being able to finance the correct strategies.
- 5. Time Pressure TIME PRESSURE NARROWS THE CONSUMER’S FOCUS, GIVING THE MARKETER ONLY A BRIEF MOMENT TO GRAB THEIR ATTENTION AND DIRECT THEIR CHOICES. MICRO MOMENTS: QUICKLY ASSESSING SITUATIONS WHILE MAKING DECISIONS WHILE MULTITASKING AND GATHERING THE INFORMATION IN FRONT OF US. A TYPE OF STRESS.
- 6. Consumer Decision Making Process • Recognition of Need • Information Search • Evaluation of Alternatives • Purchase Decision • Post-Purchase Evaluation
- 7. Problem Recognition • The first stage of the process • Deciding what you or the customer needs. • Ideal time for advertisement. • Determine when your target market develops these needs or wants. • Customer feels like something is missing
- 8. Information Search • Search Stage of the Process • Continuously changing • Information is gathered about stuff and on things • Gathered from google search, recommendations, previous experiences • Pros vs. cons list to evaluate decision
- 9. Evaluation of Alternatives • “Is this really the right product for me?” • “What are my other options?” • Customer begins to seek out the best deal. • Price, quality, availability
- 10. Purchase • Customer has decided based on the knowledge gathered. • Questions of, what, who, how are answered. • Logical conclusion has been made based upon emotional connections and experiences.
- 11. Post Purchase Evaluation Key stage for the company and customer Did the product satisfy needs/expectations? Would the consumer come back to this brand? Positive/Negative Feedback
- 12. Consumer Involvement 3 Levels of Involvement 1) Routine 2) Limited 3) Extensive Classifies buying decisions & defines the where the thought changes over into a purchase.
- 13. Works Cited • Professional Academy. “Marketing Theories – Explaining the Consumer Decision Making Process.” Www.professionalacademy.com, 2022, www.professionalacademy.com/blogs/marketing-theories- explaining-the-consumer-decision-making-process/. • “Behavioral Science Factors for Mobile Marketing.” Think with Google, www.thinkwithgoogle.com/marketing- strategies/app-and-mobile/time-pressure-behavioral- science-considerations-mobile-marketing/. • Perner, Lars. “Consumer Behavior: The Psychology of Marketing.” Consumerpsychologist.com, 2018, www.consumerpsychologist.com/. • “How to Use Consumer Involvement in Marketing.” Magnetmarke.com, 24 July 2019, magnetmarke.com/consumer- involvement/#:~:text=Consumer%20Involvement%20may%2 0be%20the%20most%20suitable%20factor.