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Consumer Markets and Consumer Buyer Behavior

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Define the consumer market and construct a model of consumer buyer behavior ... can be classified into five adopter categories, each of which behaves ... – PowerPoint PPT presentation

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Title: Consumer Markets and Consumer Buyer Behavior


1
  • Chapter 5
  • Consumer Markets and Consumer Buyer Behavior

2
Learning Goals
  • Define the consumer market and construct a model
    of consumer buyer behavior
  • Name the four factors that influence buyer
    behavior
  • List and understand the types of buying decision
    behavior and stages in the process
  • Describe the adoption and diffusion process for
    new products

3
Case StudyHarley Davidson
  • Building Success
  • Understanding the customers emotions and
    motivation
  • Determining the factors of loyalty
  • Translating this information to effective
    advertising
  • Measuring Success
  • Currently 22 of all U.S. bike sales
  • Demand above supply
  • Sales doubled in the past 5 years with earnings
    tripled

5 - 3
4
Learning Goals
  • Define the consumer market and construct a model
    of consumer buyer behavior
  • Name the four factors that influence buyer
    behavior
  • List and understand the types of buying decision
    behavior and stages in the process
  • Describe the adoption and diffusion process for
    new products

5
Definitions
  • Consumer buyer behavior refers to the buying
    behavior of final consumers individuals and
    households who buy goods and services for
    personal consumption
  • All of these final consumers combine to make up
    the consumer market

6
Learning Goals
  • Define the consumer market and construct a model
    of consumer buyer behavior
  • Name the four factors that influence buyer
    behavior
  • List and understand the types of buying decision
    behavior and stages in the process
  • Describe the adoption and diffusion process for
    new products

7
Model of Buyer BehaviorFigure 5.1
5 - 7
8
Characteristics Affecting Consumer Behavior
  • Culture
  • Forms a persons wants and behavior
  • Subculture
  • Groups with shared value systems
  • Social Class
  • Societys divisions who share values, interests
    and behaviors

Key Factors
  • Cultural
  • Social
  • Personal
  • Psychological

9
Characteristics Affecting Consumer Behavior
  • Groups
  • Membership
  • Reference
  • Aspirational
  • Opinion leaders
  • Buzz marketing
  • Family
  • Many influencers
  • Roles and status

Key Factors
  • Cultural
  • Social
  • Personal
  • Psychological

10
This advertiser knows teens are strongly
influenced by groups when purchasing fashion items
5 - 10
Marketing in Action
11
Characteristics Affecting Consumer Behavior
  • Age and life cycle
  • Occupation
  • Economic situation
  • Lifestyle
  • Activities, interests and opinions
  • Lifestyle segmentation
  • Personality and self-concept

Key Factors
  • Cultural
  • Social
  • Personal
  • Psychological

12
VALSFigure 5.4
5 - 12
13
Brand Personality Dimensions
  • Sincerity
  • Ruggedness
  • Excitement
  • Competence
  • Sophistication

14
Characteristics Affecting Consumer Behavior
  • Motivation
  • Perception
  • Learning
  • Beliefs and attitudes

Key Factors
  • Cultural
  • Social
  • Personal
  • Psychological

15
Psychological FactorsMotivation
  • A motive is a need that is sufficiently pressing
    to direct the person to seek satisfaction
  • Motivation research is based on Freud. Looks for
    hidden and subconscious motivation
  • Maslow ordered needs based on how pressing they
    are to the consumer

16
Maslows Hierarchy of NeedsFigure 5.5
5 - 16
17
This ad demonstrates a product meeting
physiological and social needs
5 - 17
Marketing in Action
18
Discussion
  • What consumer products might fulfill multiple
    levels of the Hierarchy of Needs?

5 - 18
19
Psychological Factors Perception
  • Perception is the process by which people select,
    organize, and interpret information.
  • Perception Includes
  • Selective attention
  • Consumers screen out information
  • Selective distortion
  • People interpret to support beliefs
  • Selective retention
  • People retain points to support attitudes

20
Discussion QuestionPerception
  • How many ads were you exposed to today?
  • Which ones do you remember? Why?

5 - 20
21
Psychological Factors Learning
  • Learning describes changes in an individuals
    behavior arising from experience
  • Learning occurs through
  • Drives
  • Internal stimulus that calls for action
  • Stimuli
  • Objects that move drive to motive
  • Cues
  • Minor stimuli that affect response
  • Reinforcement
  • Feedback on action

22
Psychological Factors Beliefs and Attitudes
  • Belief
  • a descriptive thought about a brand or service
  • may be based on real knowledge, opinion, or faith
  • Attitude
  • describes a persons evaluations, feelings and
    tendencies toward an object or idea
  • They are difficult to change

23
Learning Goals
  • Define the consumer market and construct a model
    of consumer buyer behavior
  • Name the four factors that influence buyer
    behavior
  • List and understand the types of buying decision
    behavior and stages in the process
  • Describe the adoption and diffusion process for
    new products

24
Types of Buying Decision BehaviorFigure 5.6
5 - 24
25
The Buyer Decision ProcessFigure 5.7
5 - 25
26
The Buyer Decision Process
  • Needs can be triggered by
  • Internal stimuli
  • Normal needs become strong enough to drive
    behavior
  • External stimuli
  • Advertisements
  • Friends of friends

Process Stages
  • Need recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Postpurchase behavior

27
The Buyer Decision Process
  • Consumers exhibit heightened attention or
    actively search for information
  • Sources of information
  • Personal
  • Commercial
  • Public
  • Experiential
  • Word-of-mouth

Process Stages
  • Need recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Postpurchase behavior

28
The Buyer Decision Process
  • Evaluation procedure depends on the consumer and
    the buying situation.
  • Most buyers evaluate multiple attributes, each of
    which is weighted differently.
  • At the end of the evaluation stage, purchase
    intentions are formed.

Process Stages
  • Need recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Postpurchase behavior

29
The Buyer Decision Process
  • Two factors intercede between purchase intentions
    and the actual decision
  • Attitudes of others
  • Unexpected situational factors

Process Stages
  • Need recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Postpurchase behavior

Video Snippet Wild Planet realizes that kids and
parents make the decision for toys
30
The Buyer Decision Process
  • Satisfaction is important
  • Delighted consumers engage in positive
    word-of-mouth.
  • Unhappy customers tell on average 11 other
    people.
  • Cognitive dissonance is common

Process Stages
  • Need recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Postpurchase behavior

31
Discussion Question
  • How is a site like Consumer Reports used in the
    decision- making process?

5 - 31
32
Learning Goals
  • Define the consumer market and construct a model
    of consumer buyer behavior
  • Name the four factors that influence buyer
    behavior
  • List and understand the types of buying decision
    behavior and stages in the process
  • Describe the adoption and diffusion process for
    new products

33
Buyer Decision Process for New Products
  • New Products
  • Good, service or idea that is perceived by
    customers as new.
  • Stages in the Adoption Process
  • Marketers should help consumers move through
    these stages.

34
Stages in the Adoption Process
  • Awareness
  • Evaluation
  • Interest
  • Trial
  • Adoption

35
Buyer Decision Process for New Products
  • Individual Differences in Innovativeness
  • Consumers can be classified into five adopter
    categories, each of which behaves differently
    toward new products.
  • Product Characteristics and Adoption
  • Five product characteristics influence the
    adoption rate.

36
Adoption ProcessFigure 5.8
5 - 36
37
Product Characteristics
  • Relative Advantage
  • Compatibility
  • Complexity
  • Divisibility
  • Communicability

38
Discussion Question
  • Why might the adoption process be slow for a home
    robot?

5 - 38
Marketing in Action
Source Business Week
Source Business Week
39
Buyer Decision Process for New Products
  • International Consumer Behavior
  • Values, attitudes and behaviors differ greatly in
    other countries.
  • Physical differences exist which require changes
    in the marketing mix.
  • Customs vary from country to country.
  • Marketers must decide the degree to which they
    will adapt their marketing efforts.

40
Learning Goals
  • Define the consumer market and construct a model
    of consumer buyer behavior
  • Name the four factors that influence buyer
    behavior
  • List and understand the types of buying decision
    behavior and stages in the process
  • Describe the adoption and diffusion process for
    new products
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