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Consumer Markets and Consumer Buyer Behavior

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Title: Consumer Markets and Consumer Buyer Behavior


1
Chapter 5
  • Consumer Markets and Consumer Buyer Behavior

2
Schedule Before Midterm
3
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

4
Case StudyHarley Davidson
  • Measuring Success
  • Currently 22 of all U.S. bike sales
  • Demand above supply
  • Sales doubled in the past 5 years with earnings
    tripled
  • Building Success
  • Understanding the customers emotions and
    motivation
  • Determining the factors of loyalty
  • Translating this information to effective
    advertising

5 - 4
5
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

6
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

7
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8
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

9
Model of Buyer Behavior
10
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

11
Characteristics Affecting Consumer Behavior
  • Groups
  • Membership
  • Reference
  • Aspirational
  • Opinion leaders
  • Buzz marketing
  • Family
  • Many influencers
  • Roles and status

Key Factors
  • Cultural
  • Social
  • Personal
  • Psychological

12
This advertiser knows teens are strongly
influenced by groups when purchasing fashion items
13
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

14
Personal Factors
  • Family Life Cycle stages throughout which
    families pass as they mature over time
  • Stages in family life cycle
  • 1.bachelor stage
  • 2.newly married couples, no children
  • 3.full nest 1 youngest child under 6
  • 4.full nest 2 youngest child 6 or over
  • 5. full nest 3 older married couples with
    dependent children
  • 6.empty nest 1 older married couples no children
    with them
  • 7. empty nest 1 older married couples no
    children at homeretired
  • 8.solitary survivor, working
  • 9.solitary survivor, retired

15
Personal Factors
  • Personality g a persons unique characteristics
    that lead to relatively consistent and lasting
    responses to his environment
  • Self-concept g the self image or general picture
    that people have of themselves

16
Personal Factors
  • Lifestyle a persons pattern of living as
    expressed in his activities, interests and
    opinions
  • Psychographics g technique of measuring
    lifestyles and developing lifestyle
    classifications
  • Major dimensions measured are
  • Activities (work, hobbies, social events,
    entertainment, shopping, sports,vacation)
  • Interests (family, home, job, recreation,
    fashion, food, media, achievements)
  • Opinions (themselves, social issues, politics,
    business, economics, products, future)

17
Values and Lifestyles (VALS)
Actualizers
High Resources

High Innovation
Achievers
Fulfilleds
Experiencers
Makers
Strivers
Believers
Strugglers
Low Resources
Low Innovation
18
Brand Personality Dimensions
  • Sincerity
  • Ruggedness
  • Excitement
  • Competence
  • Sophistication

19
Characteristics Affecting Consumer Behavior
  • Motivation
  • Perception
  • Learning
  • Beliefs and attitudes

Key Factors
  • Cultural
  • Social
  • Personal
  • Psychological

20
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

21
Maslows Hierarchy of Needs
22
This ad demonstrates a product meeting
physiological and social needs
23
Discussion
  • What consumer products might fulfill multiple
    levels of the Hierarchy of Needs?

24
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

25
Discussion QuestionPerception
  • How many ads were you exposed to today?
  • Which ones do you remember? Why?

26
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

27
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

28
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

29
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30
Types of Buying Decision Behavior
31
The Buying Roles
  • 5 roles people might play in a buying decision
  • Initiator g who first gives the idea of buying
    the product or service
  • Influencer gwhose view or advice influences the
    decision
  • Decider gwho decide on any component of buying
    decision
  • Buyer gwho makes the actual purchase
  • User gwho uses the product or sevice purchased

32
The Buyer Decision Process
33
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

34
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

35
Information Search
Personal Sources
Commercial Sources

Public Sources
  • Family, friends, neighbors
  • Most effective source of
  • information
  • Advertising, salespeople
  • Receives most information
  • from these sources

Experiential Sources
  • Mass Media
  • Consumer-rating groups
  • Handling the product
  • Examining the product
  • Using the product

36
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

37
Evaluation of Alternatives
Consumer May Use Careful Calculations Logical
Thinking
Consumers May Buy on Impulse and Rely on
Intuition
Consumers May Make Buying Decisions on Their Own.
Consumers May Make Buying Decisions Only After
Consulting Others.
Marketers Must Study Buyers to Find Out How They
Evaluate Brand Alternatives
38
Decision Making Sets
39
The Buyer Decision Process
Process Stages
  • Two factors intercede between purchase intentions
    and the actual decision
  • Attitudes of others
  • Unexpected situational factors
  • Need recognition
  • Information search
  • Evaluation of alternatives
  • Purchase decision
  • Postpurchase behavior

40
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.

41
Stages in the Adoption Process
Awareness Consumer is aware of product, but
lacks information.
Interest Consumer seeks Information about new
product.
Evaluation Consumer considers trying new product.
42
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

43
Adopter Categories
Early Majority
Late Majority
Early Adopters
Innovators
Percentage of Adopters
Laggards
34
34
16
13.5
2.5
Time of Adoption
Late
Early
44
Buyer Decision Process for New Products
  • Product Characteristics influencing the adoption
    rate
  • Relative Advantage g Is the innovation superior
    to existing products?
  • Compatibility g Does the innovation fit the
    values and experience of the target market?
  • Complexity g Is the innovation difficult to
    understand or use?
  • Divisibility g Can the innovation be used on a
    trial basis?
  • Communicability g Can results be easily observed
    or described to others?

45
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.

46
Discussion Question
  • How is a site like Consumer Reports used in the
    decision- making process?

47
Discussion Question
  • Why might the adoption process be slow for a home
    robot?

Source Business Week
Source Business Week
48
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

49
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

50
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51
Ramazan Bayraminiz Kutlu Mutlu olsun!!!
  • For Next Week
  • Read Chapter 6
  • Be prepared for case 4 Kodak discussion
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