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Consumer

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Consumer & Business Buyer Behavior ... mouth communication Postpurchase Evaluation Business Markets and Behavior Organizational Buying Fewer buyers Larger buyers ... – PowerPoint PPT presentation

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Title: Consumer


1
Consumer Business Buyer Behavior
2
Perception
  • Process by which an individual selects,
    organizes, and interprets information to form a
    cohesive picture about an entity
  • Perceptions affect consumer behavior
  • However, remember that individuals can perceive
    the same entity in different ways

3
Perception
  • Selective Attention Receive some messages and
    screen out the rest
  • An average person is exposed to 1500 ads or brand
    messages a day
  • Most of these are screened out So, how do
    marketers capture mind space?
  • People are more likely to notice stimuli that
    relate to current needs
  • People are more likely to notice stimuli they
    anticipate
  • People are more likely to notice stimuli that
    deviate relatively larger than others
  • Marketers must bypass attention filters provide
    unexpected stimuli (salesperson, sudden offers)

4
Perception
  • Selective Distortion Tendency to
    interpret/distort information to be consistent
    with prior brand and product beliefs
  • Taste tests Blind taste tests showed equal
    split Open tests showed preferences
  • Can work to the advantage of marketers of strong
    brands
  • A car may seem to drive smoother
  • A beer may taste better

5
Perception
  • Selective Retention Though people fail to
    register much information, they retain
    information that supports their attitudes and
    beliefs
  • Remember good points about products we like and
    forget good points about competing products
  • Works to the advantage of strong brands
  • Explains why marketers repeat messages for
    reinforcement

6
Consumer Buying Decision Process
Marketers Must Identify and Understand
Who Makes the Buying Decision
Types of Buying Decisions
Stages in the Buying Process
7
Consumer Buying Decision Process
  • Understand
  • Buying roles
  • Buying behavior
  • Buying decision process
  • Initiator
  • Influencer
  • Decider
  • Buyer
  • User

8
Consumer Buying Decision Process
  • Understand
  • Buying roles
  • Buying behavior
  • Buying decision process
  • Complex buying behavior
  • Dissonance-reducing buying behavior
  • Habitual buying behavior
  • Variety-seeking buying behavior

9
Consumer Buying Decision Process
  • Understand
  • Buying roles
  • Buying behavior
  • Buying decision process
  • Five stages in the consumer buying process
  • The amount of time spent in each stage varies
    according to several factors

10
Consumer Buying Decision Process
Five-Stage Model of the Consumer Buying Process
11
Need Recognition
  • Need/Problem Recognition
  • Can be triggered by internal or external stimuli
  • Needs become wants, which lead to behavior
  • Marketing stimuli can stimulate a desire for
    information

12
Information Search (1 of 2)
  • Sources of information
  • Internal Sources
  • Personal Sources
  • External Sources
  • Time, effort and expense dedicated to information
    search depends on
  • Degree of risk involved in the purchase
  • Amount of expertise with the product category
  • Actual cost of the search
  • Evoked set
  • A narrowed down set of alternatives that the
    customer is considering

13
Consumer Buying Decision Process
Successive Sets Involved in Consumer Decision
Making
14
Evaluation of Alternatives
  • Customers evaluate products as bundles of
    attributes
  • Brand attributes
  • Product features
  • Aesthetic attributes
  • Price
  • Customers place different levels of importance on
    attributes
  • Important considerations in the evaluation stage
  • Products must be in the evoked set
  • Consumers choice criteria must be understood
  • Marketing programs must be designed to influence
    consumers opinions about product or brand image

15
Purchase Decision
  • Purchase intention and the act of buying are
    distinct concepts
  • Potential intervening factors between intention
    and buying (car example)
  • Unforeseen circumstances
  • Angered by the salesperson or sales manager
  • Unable to obtain financing
  • Customer changes mind
  • Key issues in the purchase decision stage
  • Product availability
  • Possession utility

16
Postpurchase Evaluation
  • Four possible outcomes in the postpurchase stage
  • (1) Delight
  • (2) Satisfaction
  • (3) Dissatisfaction
  • (4) Cognitive Dissonance
  • Firms ability to manage dissatisfaction and
    cognitive dissonance is
  • A key to creating customer satisfaction
  • A major influence on word-of-mouth communication

17
Business Markets and Behavior
18
Organizational Buying
Compared to Consumer Markets, Business Markets
Have
Fewer buyers
Larger buyers
Geographically concentrated buyers
Closer relationships with suppliers/customers
19
The Business Buying Process
  • Problem/Need Recognition
  • Develop Product Specifications
  • Vendor Identification and Qualification
  • Solicitation of Proposals or Bids
  • Vendor Selection
  • Order Processing
  • Vendor Performance Review

20
Understanding Business Buying Behavior
  • Unique Characteristics of Business Markets
  • The Buying Center
  • Hard and Soft Costs
  • Reciprocity
  • Mutual Dependence
  • Four types of Business Markets
  • Producer markets (a.k.a. commercial markets)
  • Reseller markets
  • Government markets
  • Institutional markets

21
Organizational Buying
  • Buying Situations
  • Straight rebuy
  • Modified rebuy
  • New task
  • Routine reorders from approved vendor list
  • Low involvement, minimal time commitment
  • Example copier paper

22
Organizational Buying
  • Buying Situations
  • Straight rebuy
  • Modified rebuy
  • New task
  • Specifications, prices, delivery terms or other
    aspects require modification
  • Moderate level of involvement and time commitment
  • Example desktop computers

23
Organizational Buying
  • Buying Situations
  • Straight rebuy
  • Modified rebuy
  • New task
  • Purchasing a product or service for the first
    time
  • High level of involvement and time commitment
    multiple influences
  • Example selecting a web site design firm or
    consultant

24
Participants in Business Buying
Roles Played in a Buying Center
Initiators
Approvers
Users
Deciders
Influencers
Buyers
Gatekeepers
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