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Analyzing Consumer Markets and Buyer Behavior

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Buying Roles Identifying the buyer for the products ... Many of their consumers were habitual buyers. ... Understand what may cause buyers to switch brands. ... – PowerPoint PPT presentation

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Title: Analyzing Consumer Markets and Buyer Behavior


1
CHAPTER 5
  • Analyzing Consumer Markets and Buyer Behavior
  • (What Perrier Should Have Known)

2
Introduction
  • Marketers should understand how and why consumers
    buy.
  • Not understanding your customers motivations,
    needs, and preferences can lead to major mistakes.

3
HOW AND WHY CONSUMERS BUY
  • Cultural Factors
  • Social Factors
  • Personal Factors
  • Psychological Factors

4
CULTURAL FACTORS
  • Culture most fundamental determinant of
    persons wants and behavior
  • Subculture smaller division of culture that
    provides more specific identification
  • Social classes homogenous and enduring
    divisions in a society

5
SOCIAL FACTORS
  • Reference groups groups that have influence on
    persons attitude and behaviors
  • Family most important consumer buying
    organization
  • Roles and Statuses families, clubs and
    organizations

6
PERSONAL FACTORS
  • Age/Stage in life cycle products one buys
    changes over lifespan
  • Occupation and economic circumstances type of
    job and income level affect buying
  • Lifestyle different patterns of living affect
    buying decisions
  • Personality and self-concept individuals
    personality will affect buying behavior

7
PSYCHOLOGICAL FACTORS
  • Motivation need that causes person to act
  • Perception how one interprets information
  • Learning change in buying behavior caused by
    experience
  • Beliefs and attitudes thought a person holds
    about something

8
THE CONSUMER BUYING DECISION PROCESS
  • Buying Roles Identifying the buyer for the
    products
  • Buying Behavior Decisions vary with type of
    buying decision
  • Stages of the Buying Decision Process Consumer
    passes through information search, evaluation,
    purchase decision and post purchase behavior

9
PERRIERS BIG MISTAKE
  • Perrier did not understand the buying behavior
    of their consumers. They took the water off the
    market for what became 3-5 months. Many of their
    consumers were habitual buyers. They switched
    brands to fulfill their need for the bottled
    water.

10
The arrogance of Perriers executives caused them
to believe that consumer behavior would not
change during the time that the product was off
the market. Absence proved to be detrimental.
11
WHAT PERRIER CAN USE FROM CHAPTER 5 TO REGAIN
MARKET SHARE
  • Know the classes of buyers who use their product.
  • Understand why their buyers use their product.
  • Understand what may cause buyers to switch brands.
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