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Consumer and Business Buyer Behavior

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Consumer and Business Buyer Behavior. Chapter 5. 5 - 2. Road Map: Previewing the Concepts ... Road Map: Previewing the Concepts. 5 - 4. Consumer Buying Behavior ... – PowerPoint PPT presentation

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Title: Consumer and Business Buyer Behavior


1
Consumer and Business Buyer Behavior
  • Chapter 5

2
Road Map Previewing the Concepts
  • Understand the consumer market and the major
    factors that influence consumer buyer behavior.
  • Identify and discuss the stages in the buyer
    decision process.
  • Describe the adoption and diffusion process for
    new products.

3
Road Map Previewing the Concepts
  • Define the business market and identify the major
    factors that influence business buyer behavior.
  • List and define the steps in the business buying
    decision process.

4
Consumer Buying Behavior
  • Refers to the buying behavior of people who buy
    goods and services for personal use.
  • These people make up the consumer market.
  • The central question for marketers is
  • How do consumers respond to various marketing
    efforts the company might use?

5
Culture
  • Culture is the Most Basic Cause of a Person's
    Wants and Behavior.
  • Culture is learned from family, church, school,
    peers, colleagues.
  • Culture includes basic values, perceptions,
    wants, and behaviors.

6
Culture
  • Subculture
  • Groups of people with shared value systems based
    on common life experiences.
  • Major Groups
  • Hispanic Consumers
  • African-American Consumers
  • Asian-American Consumers
  • Mature Consumers

7
Culture
  • Social Class
  • 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.

8
Social Factors
  • Groups
  • Membership, Reference (Opinion Leaders)
    Aspirational
  • Family
  • Most important consumer buying organization
  • Roles Status
  • Role Expected activities
  • Status Esteem given to role by society

9
Personal Factors
  • Age and Life-Cycle Stage
  • Occupation
  • Economic Situation

10
Personal Factors
  • Lifestyle
  • Pattern of living as expressed in psychographics
  • Activities
  • Interests
  • Opinions

11
Personality Self-Concept
  • Personality refers to the unique psychological
    characteristics that lead to relatively
    consistent and lasting responses to ones own
    environment.
  • Generally defined in terms of traits.
  • Self-concept suggests that peoples possessions
    contribute to and reflect their identities.

12
Maslows Hierarchy of Needs
  • Self-Actualization
  • Esteem needs
  • Social needs
  • Safety needs
  • Physiological needs

13
Perception
  • Information Inputs
  • Interpretation
  • Selective Exposure
  • Selective Distortion
  • Selective Retention

14
Learning
  • A relatively permanent change in behavior due to
    experience.
  • Interplay of drives, stimuli, cues, responses,
    and reinforcement.
  • Strongly influenced by the consequences of an
    individuals behavior
  • Behaviors with satisfying results tend to be
    repeated.
  • Behaviors with unsatisfying results tend not to
    be repeated.

15
Beliefs Attitudes
  • A belief is a descriptive thought that a person
    holds about something.
  • An attitude is a persons consistently favorable
    or unfavorable evaluations, feelings, and
    tendencies toward an object or idea.

16
Buying Decision Process
  • Need recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Postpurchase behavior

17
Sources of Information
  • Personal
  • Commercial
  • Public
  • Experiential

18
Buying Decision Process
  • Factors that influence purchase decision
  • Attitudes of others
  • Unexpected situational factors

19
Buying Decision Process
  • Consumer satisfaction is a function of consumer
    expectations and perceived product performance.
  • Performance lt Expectations ----- Disappointment
  • Performance Expectations ----- Satisfaction
  • Performance gt Expectations ----- Delight

20
Buying Decision Process
  • Cognitive dissonance a buyers doubts shortly
    after a purchase about whether it was the right
    decision.

21
Stages in the Adoption Process
  • Awareness Consumer becomes aware of the new
    product, but lacks information about it.
  • Interest Consumer seeks information about new
    product.
  • Evaluation Consumer considers whether trying the
    new product makes sense.
  • Trial Consumer tries new product on a small
    scale to improve his or her estimate of its
    value.
  • Adoption Consumer decides to make full and
    regular use of the new product.

22
Product Adopter Categories
  • Innovators
  • Early adopters
  • Early majority
  • Late majority
  • Laggards

23
Influence of Product Characteristics on Rate of
Adoption
  • Relative Advantage Is the innovation superior to
    existing products?
  • Compatibility Does the innovation fit the values
    and experience of the target market?
  • Complexity Is the innovation difficult to
    understand or use?
  • Divisibility Can the innovation be used on a
    limited basis?
  • Communicability Can results be easily observed
    or described to others?

24
Business Markets Business Buyer Behavior
  • The business market is vast and involves far more
    dollars and items than do consumer markets.
  • Business buyer behavior refers to the buying
    behavior of the organizations that buy goods and
    services for use in the production of other
    products and services that are sold, rented, or
    supplied to others.

25
Business Markets
  • Nature of the Buying Unit
  • Business purchases involve more decision
    participants.
  • Business buying involves a more professional
    purchasing effort.
  • Market Structure and Demand
  • Contains far fewer but larger buyers.
  • Customers are more geographically concentrated.
  • Business demand is derived from consumer demand.

26
Types of Decisions and the Decision Process
  • Business buyers usually face more complex buying
    decisions.
  • Business buying process tends to be more
    formalized.
  • Buyers and sellers are much more dependent on
    each other.

27
Types of Buying Situations
  • Straight rebuy
  • Modified rebuy
  • New Task

28
Participants in the Business Buying Process
  • Decision-making unit of a buying organization is
    called its buying center.
  • Not a fixed and formally identified unit.
  • Membership will vary for different products and
    buying situations.
  • Buying Center Members
  • Users
  • Deciders
  • Influencers
  • Buyers
  • Gatekeepers

29
Influences on Business Buyer Behavior
  • Environmental
  • Organizational
  • Interpersonal
  • Individual

30
The Business Buying Process
  • Problem recognition
  • General need description
  • Product specification
  • Supplier search
  • Proposal solicitation
  • Supplier selection
  • Order-routine specification
  • Performance review

31
e-Procurement
  • Advantages for buyers
  • Access to new suppliers
  • Lowers purchasing costs
  • Hastens order processing and delivery
  • Advantages for vendors
  • Share information with customers
  • Sell products and services
  • Provide customer support services
  • Maintain ongoing customer relationships

32
Rest Stop Reviewing the Concepts
  • Describe the consumer market and the major
    factors that influence consumer buyer behavior.
  • Identify and discuss the stages in the buyer
    decision process.
  • Describe the adoption and diffusion process for
    new products.

33
Rest Stop Reviewing the Concepts
  • Define the business market and identify the major
    factors that influence business buyer behavior.
  • List and define the steps in the business buying
    decision process.
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