1. The document discusses various aspects of consumer behavior including the consumer decision making process, factors that influence purchasing decisions, and different types of consumer buying behaviors.
2. It describes the six stages of the consumer buying process: problem recognition, information search, alternative evaluation, purchase, and post-purchase evaluation.
3. Several categories that can affect the consumer buying decision process are discussed including personal, psychological, and social factors.
Dissecting the consumer behaviour. Do you want to know the keys?Juan Jose Delgado
Consumer behaviour is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. It blends elements from psychology, sociology, social anthropology, marketing and economics. It attempts to understand the decision-making processes of buyers, both individually and in groups such as how emotions affect buying behaviour. It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.
Consumer Behavior- meaning, nature and importance, Factors influencing consumer behavior, Buying Behavior process. Market Segmentation- meaning and need Bases for market segmentation, Requisites for effective segmentation, Steps in segmentation process, Targeting- meaning, strategies, Positioning- meaning and types
Dissecting the consumer behaviour. Do you want to know the keys?Juan Jose Delgado
Consumer behaviour is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. It blends elements from psychology, sociology, social anthropology, marketing and economics. It attempts to understand the decision-making processes of buyers, both individually and in groups such as how emotions affect buying behaviour. It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.
Consumer Behavior- meaning, nature and importance, Factors influencing consumer behavior, Buying Behavior process. Market Segmentation- meaning and need Bases for market segmentation, Requisites for effective segmentation, Steps in segmentation process, Targeting- meaning, strategies, Positioning- meaning and types
Consumer Behaviour for IBA Executive CourseZeeshan Huq
A session for Executive MBA Students of Institute of Business Administration, University of Dhaka. This is part of a guest lecture series within Principles of Marketing course by Khaled Mahmud, Associate Professor. Session dated 26-FEB-21. Was supported with many videos which are not attached.
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Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
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• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
4. Top 5 Factors in Apparel Retailing.
1. Latest Trends
2. High-Quality Products
3. Brand Names I want
4. Broad Selection
5. Full Range of Services
NOTE: Factors vary by category. Number 1 factor in home products
is broad selection.
Source: D. Warmath, “Get in the Game or Lose,” Advertising Age, August 25, 2008, p. 15.
Saturday 23 October 2010
5. Buying Behavior is the
decision processes (>>) and acts of people
involved in buying and using products.
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6. Can you think of any moments
when you are NOT being a
Consumer ?
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7. We Are Consumers 24*7! Why?
Can you think of any moments
when you are NOT being a
Consumer ?
Saturday 23 October 2010
8. We Are Consumers 24*7! Why?
Because:
Can you think of any moments
when you are NOT being a
Consumer ?
Saturday 23 October 2010
9. We Are Consumers 24*7! Why?
Because:
We are always consuming something.
Can you think of any moments
when you are NOT being a
Consumer ?
Saturday 23 October 2010
10. We Are Consumers 24*7! Why?
Because:
We are always consuming something.
(like the clothes we are wearing or the bed we are sleeping on)
Can you think of any moments
when you are NOT being a
Consumer ?
Saturday 23 October 2010
11. We Are Consumers 24*7! Why?
Because:
We are always consuming something.
(like the clothes we are wearing or the bed we are sleeping on)
We are sometimes planning future
consumption.
Can you think of any moments
when you are NOT being a
Consumer ?
Saturday 23 October 2010
12. We Are Consumers 24*7! Why?
Because:
We are always consuming something.
(like the clothes we are wearing or the bed we are sleeping on)
We are sometimes planning future
consumption.
We are sometimes enjoying the memory of
past consumption.
Can you think of any moments
when you are NOT being a
Consumer ?
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15. WHAT IS the PURPOSE OF
MARKETING?
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16. WHAT IS the PURPOSE OF
MARKETING?
To Make Money
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17. WHAT IS the PURPOSE OF
MARKETING?
To Make Money
or
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18. WHAT IS the PURPOSE OF
MARKETING?
To Make Money
or
To Create a Satisfied Customer
Saturday 23 October 2010
19. WHAT IS the PURPOSE OF
MARKETING?
To Make Money
or
To Create a Satisfied Customer
Focus on Consumers’ Needs Rather Than Products
Saturday 23 October 2010
20. WHAT IS the PURPOSE OF
MARKETING?
To Make Money
or
To Create a Satisfied Customer
Focus on Consumers’ Needs Rather Than Products
Identify Consumers’ Latent Needs
Saturday 23 October 2010
21. WHAT IS the PURPOSE OF
MARKETING?
To Make Money
or
To Create a Satisfied Customer
Focus on Consumers’ Needs Rather Than Products
Identify Consumers’ Latent Needs
Understand Consumer Behavior
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22. Consumer Behavior means more than just
how a person buys products.
Some of the important issues that marketing
executives in business organizations face
include:
1. What do consumers think about our products
and those of our competitors?
2. What do they think of possible improvements in
our products?
Saturday 23 October 2010
23. 3. How do they actually use our
products?
4. What are their attitudes toward our
products and our promotional efforts?
5. What they feel are their roles in the
family and society?
6. What are their hopes and dreams for
themselves and their families?
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26. • why consumers make the purchases that
they make?
• what factors influence consumer
purchases?
• the changing factors in our society.
Need to understand:
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27. • Buyers reactions to a firms marketing
strategy has a great impact on the firms
success.
• The marketing concept stresses that a firm
should create a Marketing Mix (MM) that
satisfies (gives utility to) customers, therefore
need to analyze the what, where, when and
how consumers buy.
• Marketers can better predict how consumers
will respond to marketing strategies.
Saturday 23 October 2010
28. Stages of the Consumer Buying
Process
Six Stages to the Consumer Buying Decision
Process (For complex decisions).Actual
purchasing is only one stage of the process.
Not all decision processes lead to a purchase.
All consumer decisions do not always include
all 6 stages, determined by the degree of
complexity...discussed next.
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36. Types of Consumer Buying Behavior
Types of consumer buying behavior are determined by:
• Level of Involvement in purchase decision.
Importance and intensity of interest in a product in a
particular situation.
• Buyers level of involvement determines why he/she is
motivated to seek information about a certain
products and brands but virtually ignores others.
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37. Low-purchase involvement High-purchase involvement
Nominal decision making Limited decision making Extended decision making
Problem recognition
Selective
Problem recognition
Generic
Problem recognition
Generic
Information search
Internal
Limited external
Information search
Limited internal
Information search
Internal
External
Alternative evaluation
Few attributes
Simple decision rules
Few alternatives
Alternative evaluation
Many attributes
Complex decision rules
Many alternatives
Purchase Purchase Purchase
Postpurchase
No dissonance
Limited evaluation
Postpurchase
No dissonance
Very limited evaluation
Postpurchase
Dissonance
Complex evaluation
Impulse buying- no conscious planning.
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39. Outlet Image
Retailer Brands
Retail Advertising
Outlet Location and Size
Retail outlet selection involves a comparison of the
alternative outlets on consumer’s evaluative criteria:
Attributes Affecting Retail Outlet Selection
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41. Categories that Effect the Consumer
Buying Decision Process
Personal
Psychological
Social
Saturday 23 October 2010
42. Categories that Effect the Consumer
Buying Decision Process
Personal
Psychological
Social
Unique to a particular
person. Demographic
Factors. Sex, Race, Age etc.
Who in the family is
responsible for the decision
making.
Young people purchase
things for different reasons
than older people.
Saturday 23 October 2010
43. Categories that Effect the Consumer
Buying Decision Process
Personal
Psychological
Social
Motives, Perception, Ability
and Knowledge, Ability and
Knowledge, Attitudes,
Personality, Lifestyles.
Saturday 23 October 2010
44. Categories that Effect the Consumer
Buying Decision Process
Personal
Psychological
Social
Opinion leaders, Roles and
Family Influences,
Reference Groups, Social
Class, Culture and Sub-
culture.
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45. It can be regarded as
the mental processes
(cognitive process)
resulting in the selection
of a course of action
among several
alternatives. Every
decision making
process produces a final
choice. The output can
be an action or an
opinion of choice.
Decision
making
Saturday 23 October 2010
46. Problem Analysis vs. Decision Making
It's important to differentiate between problem
analysis and decision making. The concepts
are completely separate from one another.
Problem analysis must be done first, then the
information gathered in that process may be
used towards decision making.
Saturday 23 October 2010
47. Problem Analysis
• Analyze performance, what should the results be against
what they actually are?
• Problems are merely deviations from performance
standards.
• Problem must be precisely identified and described.
• Problems are caused by some change from a distinctive
feature.
• Something can always be used to distinguish between what
has and hasn't been effected by a cause.
• Causes to problems can be deducted from relevant
changes found in analyzing the problem.
• Most likely cause to a problem is the one that exactly
explains all the facts.
Saturday 23 October 2010
48. Decision Making
• Objectives must first be established.
• Objectives must be classified and placed in order of
importance.
• Alternative actions must be developed.
• The alternative must be evaluated against all the
objectives.
• The alternative that is able to achieve all the objectives is
the tentative decision.
• The tentative decision is evaluated for more possible
consequences.
• The decisive actions are taken, and additional actions are
taken to prevent any adverse consequences from
becoming problems and starting both systems (problem
analysis and decision making) all over again.
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49. Consumer behavior is influenced
by the circumstances surrounding
the purchase of a product.
Social surroundings
Physical surroundings
Temporal effects
Purchase task
Situational Influences
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51. The only way to know How
customers see your business is
to look at through their eyes.
4
Marketing Psychology & C.B.
is
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52. We perceive our environment
through our senses
We respond to stimuli
Those responses are our
behavior
Perception is everything
Half Empty
Half Filled
Saturday 23 October 2010