Marketing segmentation
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2) The consumer buying process involves need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Marketers seek to understand how and why consumers make decisions at each stage.
3) Cultural factors like culture, subculture, and social class shape consumer values and preferences. Personal factors such as age, life stage, occupation, economic situation, lifestyle, personality, and self-concept also impact buying decisions.
CHAPTER 3Consumer Behavior How People Make Buying Decisions.docx
CHAPTER 3
Consumer Behavior: How People Make Buying Decisions
©FlatWorld 2018
CONSUMER BEHAVIOR
CONSIDERS THE MANY REASONS—
PERSONAL, SITUATIONAL, PSYCHOLOGICAL, AND SOCIAL—
WHY PEOPLE SHOP FOR PRODUCTS, BUY AND USE THEM, SOMETIMES BECOMING LOYAL CUSTOMERS, AND THEN DISPOSE OF THEM.
©FlatWorld 2018
2
GETTING THE ANSWERS
Companies spend billions studying consumer behaviors.
Data is collected in many ways:
Web visits
Blogs
Social networks
Psychological profiles
Surveys
©FlatWorld 2018
3
LEARNING OBJECTIVES
Describe the personal and psychological factors that may influence what consumers buy and when they buy it.
Explain what marketing professionals can do to influence consumers’ behavior.
Explain how looking at lifestyle information helps firms understand what consumers want to purchase.
Explain how Maslow’s hierarchy of needs works.
Explain how cultures, subcultures, social classes, families, and reference groups affect consumers’ buying behavior.
©FlatWorld 2018
4
SITUATIONAL FACTORS
©FlatWorld 2018
5
Store Location
Physical Factors
Crowding
Social Situation
Time
Reason for Purchase
Mood
PHYSICAL FACTORS
Some physical factors can be controlled by design, others must be accommodated.
Atmospherics: store layout, music played, lighting, temperature, smell.
Uncontrolled: weather
©FlatWorld 2018
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SOCIAL SITUATION
Factors such as an obligation, expected behavior, or a need to impress may compel purchases.
CIRCUMSTANCES IN WHICH CONSUMERS MAY FIND THEMSELVES
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TIME
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THE RIGHT PRODUCT
IN THE RIGHT PLACE
AT THE RIGHT TIME
REASONS FOR THE PURCHASE
Is it an emergency purchase?
Is it a gift or for a special occasion?
Is it going to help complete a task?
Is it needed quickly?
©FlatWorld 2018
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MOOD
People’s moods temporarily affect their spending patterns.
Some people enjoy shopping. Other’s less so.
A sour mood can spoil a consumer’s desire to shop.
©FlatWorld 2018
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ECONOMIC SITUATION
People’s economic situation affects what and how much they buy.
People reduce spending during economic downturns.
Stores with lower prices (like Walmart) fare better during economic downturns than high-end stores.
©FlatWorld 2018
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PERSONALITY
It describes a person’s disposition.
It helps show why people are different.
It encompasses a person’s unique traits
©FlatWorld 2018
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PERSONALITY TRAITS
The link between personalities and buying behavior is unclear.
©FlatWorld 2018
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Openness
Conscientiousness
Extraversion
Agreeableness
Neuroticism
SELF-CONCEPT
Marketers have had better luck linking people’s self-concepts to their buying behavior.
Your self-concept is how you see yourself—be it positive or negative.
Your ideal self is how you would like to see yourself.
People buy products to enhance how they feel about themselves.
©FlatWorld 2018
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GENDER
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AGE
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this is Consumer Buyer Behavior Part 2. Our learning objectives today include identify the five steps of the consumer buying decisionmaking process, analyze interpersonal and non-personal influences on buying behavior, describe how culture, values, beliefs, and religion impact purchase behavior.
The five steps of the consumer buying decision-making process include problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Now let me give you an example to illustrate. And this is what marketers often do.
Step one, I have a problem, which is I want to try the new restaurant in town but I'm unsure of the prices, the quality of the food, the location, the parking situation, et cetera. I move on to step two. I search for information on the web, the restaurant website, and review sites like Yelp.com for information.
Three, I evaluate my alternatives-- other restaurants in the area that seem comparable or my go-to restaurants-- and I think to myself, do I want to go there or do I want to try the new restaurant? Four, I make the decision to try it out. Five, I am thrilled with the experience. I take photos of myself, with my friends, of the wait staff. I take photos of the food. I post everything on Snapchat, Yelp.com, et cetera. So I had a really good experience.
However, through those five steps, there are many interpersonal and non-personal influences that can possibly lead us astray. And as marketers, we need to pay attention to this. Interpersonal influences-- there are many examples-- family members are strong influencers when it comes to big and small purchases.
Examples. I need to ask my dad about the types of cars I am interested in. He will know what is best for me at this time in my life. Or another example. I always buy Thomas' English muffins and bagels because my grandmother and my mom used to buy that brand and it evokes really good feelings in me and it reminds me of my childhood.
Mentors are also heavy influencers. So an example. My football coach during middle school and high school always believed in my talent and thinks I should choose Temple University's football program. So I do.
Religion is another key factor that often shapes decision making. Here's an example. I was raised in a Jewish kosher family and will ensure my family home has an awesome kosher kitchen for large family gatherings and wonderful food. I'm in the process of building my house. There are only two contractors in the area that specialize in kosher kitchen design, so out of the 30 contractors out there that I'm aware of, I'm only going to talk to those two for estimates.
Culture is another driver of consumption. Example. I grew up watching the old movies-- black and white films from the '30s, '40s, and '50s. I absolutely love it. I want to be a historical firm major in college. Where should I go to study this? Ah, the film degree at NYU's Tisch School of the Arts. I think I'll go there.
Non-personal inf.
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This document discusses the rising trend of lone-person households in Australia and its implications for marketing. It notes that the number of people living alone is projected to increase the most over the next 25 years. This demographic shift affects consumer decision making as lone households have different needs than multi-person households. Marketers need to recognize this growing segment and reconsider their marketing approaches to appeal to individual consumers rather than families. Reference groups like family still influence lone individuals' behaviors, so marketing that features approval from these groups can be effective.
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Consumer behavior is the study of how individuals and groups select, purchase, use, and dispose of goods and services. It is influenced by cultural, social, and personal factors. Cultural factors include culture, subculture, and social class. Social factors are reference groups, family, and social roles and status. Personal factors are age and life stage, occupation, personality, lifestyle, and economic circumstances.
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2) Culture provides standards and rules that guide decision-making. Through acculturation, marketers must understand the specific cultures of their target markets to communicate effectively using appropriate symbols and language.
3) Cultural factors form several market segments with distinct needs. Marketers must carefully study different cultures and subcultures to frame appropriate marketing strategies.
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Market segmentation involves dividing a large market into smaller subgroups of consumers with similar characteristics or needs. It is done by segmenting consumers, not products or prices. Markets can be segmented by geography, demographics, psychographics, and buying behavior. Some examples of market segmentation include segmenting the watch market by price range, segmenting the car market by age groups, and segmenting the food market by lifestyle or dietary preferences. The key to effective segmentation is identifying distinct groups that respond differently to marketing strategies so companies can better target their products.
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Consumer behavior is the study of how individuals select, purchase, use, and dispose of products and services to satisfy their needs and desires. It is influenced by cultural, social, personal and psychological factors. Marketers must understand consumer behavior to develop effective marketing strategies by analyzing factors affecting behavior at each stage of obtaining, consuming, and disposing of products. Studying consumer behavior helps marketers create better products and services, set prices appropriately, promote offerings effectively, and make products widely available to maximize sales and profits.
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1) Consumer buyer behavior refers to how individuals and households purchase goods and services for personal use. Cultural, social, personal, and psychological factors influence consumer buying decisions.
2) The consumer buying process involves need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior. Marketers seek to understand how and why consumers make decisions at each stage.
3) Cultural factors like culture, subculture, and social class shape consumer values and preferences. Personal factors such as age, life stage, occupation, economic situation, lifestyle, personality, and self-concept also impact buying decisions.
CHAPTER 3Consumer Behavior How People Make Buying Decisions.docx
CHAPTER 3
Consumer Behavior: How People Make Buying Decisions
©FlatWorld 2018
CONSUMER BEHAVIOR
CONSIDERS THE MANY REASONS—
PERSONAL, SITUATIONAL, PSYCHOLOGICAL, AND SOCIAL—
WHY PEOPLE SHOP FOR PRODUCTS, BUY AND USE THEM, SOMETIMES BECOMING LOYAL CUSTOMERS, AND THEN DISPOSE OF THEM.
©FlatWorld 2018
2
GETTING THE ANSWERS
Companies spend billions studying consumer behaviors.
Data is collected in many ways:
Web visits
Blogs
Social networks
Psychological profiles
Surveys
©FlatWorld 2018
3
LEARNING OBJECTIVES
Describe the personal and psychological factors that may influence what consumers buy and when they buy it.
Explain what marketing professionals can do to influence consumers’ behavior.
Explain how looking at lifestyle information helps firms understand what consumers want to purchase.
Explain how Maslow’s hierarchy of needs works.
Explain how cultures, subcultures, social classes, families, and reference groups affect consumers’ buying behavior.
©FlatWorld 2018
4
SITUATIONAL FACTORS
©FlatWorld 2018
5
Store Location
Physical Factors
Crowding
Social Situation
Time
Reason for Purchase
Mood
PHYSICAL FACTORS
Some physical factors can be controlled by design, others must be accommodated.
Atmospherics: store layout, music played, lighting, temperature, smell.
Uncontrolled: weather
©FlatWorld 2018
6
SOCIAL SITUATION
Factors such as an obligation, expected behavior, or a need to impress may compel purchases.
CIRCUMSTANCES IN WHICH CONSUMERS MAY FIND THEMSELVES
©FlatWorld 2018
7
TIME
©FlatWorld 2018
8
THE RIGHT PRODUCT
IN THE RIGHT PLACE
AT THE RIGHT TIME
REASONS FOR THE PURCHASE
Is it an emergency purchase?
Is it a gift or for a special occasion?
Is it going to help complete a task?
Is it needed quickly?
©FlatWorld 2018
9
MOOD
People’s moods temporarily affect their spending patterns.
Some people enjoy shopping. Other’s less so.
A sour mood can spoil a consumer’s desire to shop.
©FlatWorld 2018
10
ECONOMIC SITUATION
People’s economic situation affects what and how much they buy.
People reduce spending during economic downturns.
Stores with lower prices (like Walmart) fare better during economic downturns than high-end stores.
©FlatWorld 2018
11
PERSONALITY
It describes a person’s disposition.
It helps show why people are different.
It encompasses a person’s unique traits
©FlatWorld 2018
12
PERSONALITY TRAITS
The link between personalities and buying behavior is unclear.
©FlatWorld 2018
13
Openness
Conscientiousness
Extraversion
Agreeableness
Neuroticism
SELF-CONCEPT
Marketers have had better luck linking people’s self-concepts to their buying behavior.
Your self-concept is how you see yourself—be it positive or negative.
Your ideal self is how you would like to see yourself.
People buy products to enhance how they feel about themselves.
©FlatWorld 2018
14
GENDER
©FlatWorld 2018
15
AGE
A consumer’s age influences thei ...
this is Consumer Buyer Behavior Part 2. Our learning objectives to.docx
this is Consumer Buyer Behavior Part 2. Our learning objectives today include identify the five steps of the consumer buying decisionmaking process, analyze interpersonal and non-personal influences on buying behavior, describe how culture, values, beliefs, and religion impact purchase behavior.
The five steps of the consumer buying decision-making process include problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Now let me give you an example to illustrate. And this is what marketers often do.
Step one, I have a problem, which is I want to try the new restaurant in town but I'm unsure of the prices, the quality of the food, the location, the parking situation, et cetera. I move on to step two. I search for information on the web, the restaurant website, and review sites like Yelp.com for information.
Three, I evaluate my alternatives-- other restaurants in the area that seem comparable or my go-to restaurants-- and I think to myself, do I want to go there or do I want to try the new restaurant? Four, I make the decision to try it out. Five, I am thrilled with the experience. I take photos of myself, with my friends, of the wait staff. I take photos of the food. I post everything on Snapchat, Yelp.com, et cetera. So I had a really good experience.
However, through those five steps, there are many interpersonal and non-personal influences that can possibly lead us astray. And as marketers, we need to pay attention to this. Interpersonal influences-- there are many examples-- family members are strong influencers when it comes to big and small purchases.
Examples. I need to ask my dad about the types of cars I am interested in. He will know what is best for me at this time in my life. Or another example. I always buy Thomas' English muffins and bagels because my grandmother and my mom used to buy that brand and it evokes really good feelings in me and it reminds me of my childhood.
Mentors are also heavy influencers. So an example. My football coach during middle school and high school always believed in my talent and thinks I should choose Temple University's football program. So I do.
Religion is another key factor that often shapes decision making. Here's an example. I was raised in a Jewish kosher family and will ensure my family home has an awesome kosher kitchen for large family gatherings and wonderful food. I'm in the process of building my house. There are only two contractors in the area that specialize in kosher kitchen design, so out of the 30 contractors out there that I'm aware of, I'm only going to talk to those two for estimates.
Culture is another driver of consumption. Example. I grew up watching the old movies-- black and white films from the '30s, '40s, and '50s. I absolutely love it. I want to be a historical firm major in college. Where should I go to study this? Ah, the film degree at NYU's Tisch School of the Arts. I think I'll go there.
Non-personal inf.
Bma262 consumer behaviour case study 9.1
This document discusses the rising trend of lone-person households in Australia and its implications for marketing. It notes that the number of people living alone is projected to increase the most over the next 25 years. This demographic shift affects consumer decision making as lone households have different needs than multi-person households. Marketers need to recognize this growing segment and reconsider their marketing approaches to appeal to individual consumers rather than families. Reference groups like family still influence lone individuals' behaviors, so marketing that features approval from these groups can be effective.
Chapter5_1
Consumer behavior is the study of how individuals and groups select, purchase, use, and dispose of goods and services. It is influenced by cultural, social, and personal factors. Cultural factors include culture, subculture, and social class. Social factors are reference groups, family, and social roles and status. Personal factors are age and life stage, occupation, personality, lifestyle, and economic circumstances.
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Myself Gokila digital marketing consultant located in Coimbatore other various types of digital marketing services such as SEM
SEO SMO SMM CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
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With Regards
Gokila digital marketer
Coimbatore
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Myself Janani Digital marketing consultant located in coimbatore I offer all kinds of digital marketing services for your business requirements such as SEO SMO SMM SMO CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months.
With Regards
Janani Digital Marketer
Coimbatore,Tamilnadu.
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5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
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On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
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6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
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Marketing segmentation
- 2. How are the markets segmented? Demographics Geographics Behavioral Psychographics
- 3. Demographics Age Gender Family income Occupation Education Religion Ethnicity Generational cohorts
- 4. How are these segments marketed within each group? A few examples include…. AGE: Types of cereal marketed to each age group GENDER: BRAS for women and new athletic gear for men RELIGION: A Kosher grocery store vs the standard Wal-mart to Jewish Americans. Demographics
- 5. Geographics Where are the consumers home/ workplace located?
- 6. Organizing customers into groups depending on country or region…. Ex: A chain store in a state such as Safeway in Md and a Piggly Wiggly in South Carolina. These stores may offer different things to that region/state. Geographics
- 7. What do their purchases look like? What is their knowledge of the product? Behavioral
- 8. How customers are using the products---their loyalty for that product. Ex:Occasional- a prom student needing a suit or for a wedding. Ex:Loyalty-People who eat Chipotle and use their rewards system. Behavioral
- 9. lifestyle and personality of the consumer Psychographics
- 10. How do others see themselves? (Self-values, Self-Concept & Lifestyles) This will help determine their choices. Ex: Are they lonely and want to be around others? They will seek activities involving people with like interests. Psychographics
- 11. WORKS CITED Grewal, Dhruv, and Michael Levy. Marketing. Boston: McGraw-Hill Irwin, 2010. Ebook.