Consumer-Markets-and-Consumer-Buyer-Behavior.ppt

Click to edit Master title style,Click to edit Master text styles,Second level,Third level,Fourth level,Fifth level,Chapter 5-slide,*,Copyright 2010 Pearson Education,Inc.,Publishing as Prentice Hall,Chapter Five,Consumer Markets and Consumer Buyer Behavior,Consumer Markets and Consumer Buyer Behavior,Model of Consumer Behavior,Characteristics Affecting Consumer Behavior,Types of Buying Decision Behavior,The Buyer Decision Process,The Buyer Decision Process for New Products,Topic Outline,Consumer buyer behavior,refers to the buying behavior of final consumersindividuals and households who buy goods and services for personal consumption,Consumer market,refers to all of the personal consumption of final consumers,Model of Consumer Behavior,Model of Consumer Behavior,Characteristics Affecting Consumer Behavior,Factors Influencing Consumer Behavior,Culture,is the learned values,perceptions,wants,and behavior from family and other important institutions,Characteristics Affecting Consumer Behavior,Characteristics Affecting Consumer Behavior,Subculture,are groups of people within a culture with shared value systems based on common life experiences,and situations,Hispanic,African American,Asian,Mature consumers,Social classes,are societys relatively permanent and ordered divisions whose members share similar values,interests,and behaviors,Measured by a combination of occupation,income,education,wealth,and other variables,Characteristics Affecting Consumer Behavior,Characteristics Affecting Consumer Behavior,Family is the most important consumer-buying organization in society,Social roles and status are the groups,family,clubs,and organizations that a person belongs to that can define role and social status,Social Factors,Characteristics Affecting Consumer Behavior,Age and life-cycle stage,RBC Royal Band stages,Youth:younger than 18,Getting started:1835,Builders:3550,Accumulators:5060,Preservers:over 60,Personal Factors,Characteristics Affecting Consumer Behavior,Occupation,affects the goods and services bought by consumers,Economic,situation includes trends in:,Personal Factors,Personal income,Savings,Interest rates,Characteristics Affecting Consumer Behavior,Lifestyle,is a persons pattern of living as expressed in his or her psychographics,Measures a consumers AIOs(activities,interests,opinions)to capture information about a persons pattern of acting and interacting in the environment,Personal Factors,Characteristics Affecting Consumer Behavior,Personality and self-concept,Personality refers to the unique psychological characteristics that lead to consistent and lasting responses to the consumers environment,Personal Factors,Characteristics Affecting Consumer Behavior,Psychological Factors,Motivation,Perception,Learning,Beliefs and attitudes,Characteristics Affecting Consumer Behavior,A,motive,is a need that is sufficiently pressing to direct the person to seek satisfaction,Motivation research,refers to qualitative research designed to probe consumers hidden,subconscious motivations,Psychological Factors,Motivation,Characteristics Affecting Consumer Behavior,Maslows,Hierarchy of Needs,Characteristics Affecting Consumer Behavior,Perception,is the process by which people select,organize,and interpret information to form a meaningful picture of the world from three perceptual processes,Selective attention,Selective distortion,Selective retention,Psychological Factors,Characteristics Affecting Consumer Behavior,Selective attention,is the tendency for people to screen out most of the information to which they are exposed,Selective distortion,is the tendency for people to interpret information in a way that will support what they already believe,Selective retention,is the tendency to remember good points made about a brand they favor and forget good points about competing brands,Psychological Factors,Types of Buying Decision Behavior,Four Types of Buying Behavior,The Buyer Decision Process,Buyer Decision Making Process,The Buyer Decision Process,Occurs when the buyer recognizes a problem or need triggered by:,Internal stimuli,External stimuli,Need Recognition,The Buyer Decision Process,Personal sourcesfamily and friends,Commercial sourcesadvertising,Internet,Public sourcesmass media,consumer organizations,Experiential sourceshandling,examining,using the product,Information Search,Sources of Information,The Buyer Decision Process,How the consumer processes information to arrive at brand choices,Evaluation of Alternatives,The Buyer Decision Process,The act by the consumer to buy the most preferred brand,The purchase decision can be affected by:,Attitudes of others,Unexpected situational factors,Purchase Decision,The Buyer Decision Process,The satisfaction or dissatisfaction that the consumer feels about the purchase,Relationship between:,Consumers expectations,Products perceived performance,The larger the gap between expectation and performance,the greater the consumers dissatisfaction,Cognitive dissonance is the discomfort caused by a post-purchase conflict,Post-Purchase Decision,The Buyer Decision Process,Customer satisfaction,is a key to building profitable relationships with consumersto keeping and growing consumers and reaping their customer lifetime value,Post-Purchase Decision,