Consumer buying-behavior-1224306263086720-9

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Consumer Buying Behavior

Transcript of Consumer buying-behavior-1224306263086720-9

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Consumer Buying Behavior

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Learning Objectives

Understand the major factors influencing consumer behaviorKnow and recognize the types of buying decision behaviorUnderstand the stages in the buying decision process

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Consumer Market

Consists of all the individuals and households who buy or acquire goods and services for personal consumption.

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Consumer Buying Decision Process

Problem Recognition

Information Search

Evaluation of Alternatives

Purchase Decision

Post-PurchaseEvaluation

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Types of Buying Behavior

Routine ResponseLimited Decision Extension DecisionImpulse Buying

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Factors Influencing Consumer Behavior

PersonalPsychologicalSocialCultural

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Personal Factors

AgeLife-Cycle Stage

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Stages in Family Life-Cycle

1. Single2. Newly Married Couples3. Full Nest I4. Full Nest II5. Full Nest III6. Empty Nest I7. Empty Nest II8. Solitary Survivor9. Solitary Survivor, Retired

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Personal Factors

AgeLife-Cycle StageOccupationEconomic CircumstancesLife Style

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Psychological Factors

“Wants”Based on a want or desire to have something. Not a necessity.

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Psychological Factors

Motivation:Freud

IdEgoSuper Ego

MaslowHierarchy of Needs

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Psychological Factors

MotivationPerceptionPerception

The process by which an individual selects, organizes, and interprets inputs to create a meaningful picture of the world.

Selective ExposureSelective DistortionSelective Retention

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Psychological Factors

MotivationPerception

LearningLearningChanges in an individual’s behavior arising form experience

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Psychological Factors

MotivationPerception Learning

BeliefsBeliefsDescriptive thoughts that a person holds about something

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Psychological Factors

MotivationPerceptionLearningBeliefsAttitudesAttitudes

Enduring favorable or unfavorable cognitive evaluations emotional feelings and action tendencies

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Functional Factors

“Needs”Need over wants. Delivers to a real “need” to have something.

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Social Class

Relatively homogenous, enduring divisions in a society,

hierarchically ordered with members sharing similar

values, interests, and behaviors.

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American Social Classes

Upper Upper 1%Lower Upper 2%Upper Middle 12%Middle 32%Working 38%Upper Lower 9%Lower Lower 7%

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Group Influences

Public LuxuriesGolf ClubsSnow SkisSail Boat

Private LuxuriesTV Video GamesIce MakersTrash Compactors

Public NecessitiesWrist Watch AutomobilesDress Clothes

Private NecessitiesMattressesFloor LampsRefrigerators

Strong Weak

Strong

Weak

Brand Choice

Prod

uct C

hoice

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Family Influence on Buying Behavior

Husband-DominantWife-DominantEqual

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Culture & Subcultures

CulturesThe accumulation of values, knowledge, beliefs, customs, objects, and concepts that a society uses to cope with its environment

SubculturesGroups of individuals who have similar value and behavior patterns within the group but differ from those in other groups.

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Adoption Process

1. Awareness2. Interest3. Evaluation4. Trial5. Decision6. Confirmation

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Examples of Buying Motives:Psychological or Functional?

A senior wants to impress his date at the prom .His primary motive is …?

Psychological

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Examples of Buying Motives:Psychological or Functional?

A girl wants to remember her grandmother on her birthday.Her primary motive is…?

Psychological

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Examples of Buying Motives:Psychological or Functional?

A homemaker needs a new washing machine and has had good experiences with Sears.Her primary motive is …?

Functional

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Examples of Buying Motives:Psychological or Functional?

A teacher wants to buy a practical car to be used for family transportation.Her/His primary motive is …?

Functional

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Examples of Buying Motives:Psychological or Functional?

A career woman always buys Liz Claiborne clothes.Her primary motive is…?

Psychological

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Examples of Buying Motives:Psychological or Functional?

An overweight 40 year old man wants to loose weight so that he can reduce his blood pressure.His primary motive is…?

Functional

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Examples of Buying Motives:Psychological or Functional?

A homeowner needs to mow their lawn. Their primary motive is…?

Functional

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Consumer Buying Behavior Competency

Functional Motive

Psychological Motive

The price is 40 cents off the regular price.

It never needs ironing.

Diamonds are forever.

Serving you since 1971.

Ninety-day warranty.

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Consumer Buying Behavior Competency

Functional Motive

Psychological Motive

Running shoe with built-in arch.

It’s all the rage—colored action wear and style.

Wheaties—the breakfast of champions!

Steel-belted radial tires warranted for 40,000 miles

A watch—a gift she will treasure always.

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Learning Objectives--Reviewed

Understand the major factors influencing consumer behaviorKnow and recognize the types of buying decision behaviorUnderstand the stages in the buying decision process

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Consumer Buying Behavior

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Consumer Buying Decision Process

Problem Recognition

Information Search

Evaluation of Alternatives

Purchase Decision

Post-PurchaseEvaluation