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    MarketingManagementlecture4 PDF

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    Saad Mazher
    This document discusses consumer buyer behavior and the factors that influence it. It outlines the learning objectives which are to understand why consumers buy, the characteristics that affect consumer behavior like cultural, social, personal and psychological factors. It also discusses the different types of buying decision behaviors based on consumer involvement. The key stages in a consumer's buyer decision process are need recognition, information search, evaluation of alternatives, purchase decision and post-purchase behavior. It also outlines the adoption process for new products.

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    MarketingManagementlecture4 PDF

    Uploaded by

    Saad Mazher
    40 views40 pages
    This document discusses consumer buyer behavior and the factors that influence it. It outlines the learning objectives which are to understand why consumers buy, the characteristics that affect consumer behavior like cultural, social, personal and psychological factors. It also discusses the different types of buying decision behaviors based on consumer involvement. The key stages in a consumer's buyer decision process are need recognition, information search, evaluation of alternatives, purchase decision and post-purchase behavior. It also outlines the adoption process for new products.

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    This document discusses consumer buyer behavior and the factors that influence it. It outlines the learning objectives which are to understand why consumers buy, the characteristics that affect consumer behavior like cultural, social, personal and psychological factors. It also discusses the different types of buying decision behaviors based on consumer involvement. The key stages in a consumer's buyer decision process are need recognition, information search, evaluation of alternatives, purchase decision and post-purchase behavior. It also outlines the adoption process for new products.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    40 views40 pages

    MarketingManagementlecture4 PDF

    Uploaded by

    Saad Mazher
    This document discusses consumer buyer behavior and the factors that influence it. It outlines the learning objectives which are to understand why consumers buy, the characteristics that affect consumer behavior like cultural, social, personal and psychological factors. It also discusses the different types of buying decision behaviors based on consumer involvement. The key stages in a consumer's buyer decision process are need recognition, information search, evaluation of alternatives, purchase decision and post-purchase behavior. It also outlines the adoption process for new products.

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    Marketing Management –

    BA3602
    Nabeel Farooq
    [email protected]
    Consumer Buyer Behavior

    LECTURE 4
    LEARNING OBJECTIVES
     Consumer buyer behavior
     Why they buy?
     Characteristics affecting consumer behavior
     Cultural – culture, subculture, social class
     Social – family, reference groups, role and status
     Personal – age, life cycle stage, occupation, economic
    situation, lifestyle, personality and self-concept
     Psychological – motivation, perception, learning, beliefs
    and attitudes
     Types of buying decision behavior – involvement and
    difference between brands
     Buyer Decision Process
     Adoption Process
    Consumer Buyer Behavior
    Consumer Buyer Behavior

    The buying behavior of final consumers – individuals


    and households

     What consumers buy?


     Where they buy from?
     How much do they buy?

     Why they buy what they buy?


    Model of Consumer Behavior
    Characteristics Affecting Consumer
    Behavior
    Model of Consumer Behavior
    Cultural Impact on Buyer
    Behavior
    Culture
    The set of basic values, perceptions, wants and
    behaviors learned by a member of society from family
    and other important institutions

     Subcultures: groups with shared value systems

     Social Class: relatively permanent and ordered


    divisions in a society whose members share similar
    values, interests and behaviors
    American
    Major
    Social
    Classes
    Social Impact on Buyer Behavior
    Social Factors
    1. Groups and Social Networks
    Groups that have a direct influence and to which a person
    belongs are called membership groups

    Groups that serve as direct or indirect points of


    comparison or reference in forming a person’s attitudes or
    behavior are called reference groups
     Expose a person to new behaviors and lifestyles

     Creates pressures to conform


    Social Factors (contd.)
     Marketers must figure out how to reach opinion
    leaders – the influentials or leading adopters

     Buzz marketing involves enlisting or even creating


    opinion leaders to serve as brand ambassadors

     Word-of-mouth influence
     Powerful impact on consumer behavior

     Online Social Networks


    Social Factors
    2. Family
    Marketers interested in roles and influence of husband,
    wife, children, parents on buying decisions
     IKEA Australian stores have Manland

    3. Role and Status


    Personal Factors
    Personal Factors
     Age and life-cycle stage
     Occupation
     Economic Situation
     Lifestyle
     Personality and self-concept
    Psychological Factors
    Psychological Factors
     Motivation
     Perception
     Learning
     Beliefs and attitudes
    Types of Buying Decision Behavior
    Types of Buying Decision Behavior
    1. Complex buying behavior
     High consumer involvement
     Significant perceived differences among brands

     When the product is:


     Risky
     Purchased infrequently
     Highly self-expressive

     Process includes learning, developing beliefs, then


    making a thoughtful purchase
     Marketers must understand information-gathering and
    evaluation behavior of consumer
     Help buyers learn about product attributes
     Differentiate their brand’s features
     Motivate store sales staff to influence decision
    Types of Buying Decision Behavior
    2. Dissonance-reducing buying behavior
     High consumer involvement
     Few perceived differences among brands

     When the product is:


     Risky
     Purchased infrequently
     Expensive
     Example: carpets

     Decision might be based on price and convenience


     After purchase, consumers might experience post-
    purchase dissonance
     Marketers after sales communication should provide
    evidence and support
    Types of Buying Decision Behavior
    3. Habitual buying behavior
     Low consumer involvement
     Few perceived differences among brands

     Example: salt

     Consumers may not evaluate the other brands

     Marketers generally compete on price


     Marketers can add product features or enhancements
    Types of Buying Decision Behavior
    4. Variety-seeking buying behavior
     Low consumer involvement
     Significant perceived differences among brands

     Example: cookies

     Consumers do a lot of brand switching


     Not a lot of evaluation
     Brand switching might be for the sake of variety rather
    than dissatisfaction
    MARKET LEADERS:
     Marketers encourage habitual buying behavior by:
     Dominating shelf space
     Keeping shelves fully stocked
     Running frequent reminder advertising

    CHALLENGER FIRMS:
     Marketers will encourage variety seeking by offering
     Lower prices
     Special deals
     Coupons
     Advertising that presents reasons to try something new
    Elements of
    Value Pyramid

    http://www2.b
    ain.com/bainw
    eb/media/inter
    active/element
    s-of-value/#
    Buyer Decision Process
    Buyer Decision Process
     Consumers generally
    pass through all five
    stages
     May pass quickly or
    slowly
     In routine purchases,
    consumers often skips
    or reverse some
    stages
    Need Recognition
     Need can be triggered by internal stimuli
     By external stimuli as well
     Advertisement
     Discussion with a friend
    Information Search
     Stage in which the consumer is motivated to search
    for more information
     Consumers may skip this stage
     Sources:
     Personal
     Commercial
     Public sources
     Experiential
    Evaluation of Alternatives
     Depends on individual consumer and specific buying
    situation
     Consumers use careful calculations
     Consumers may purchase with little or no evaluation

     By this stage, consumers might have formed beliefs


    about certain brands
     If one attribute is into consideration, choice would be
    relatively easy
    Purchase Decisions
     Two factors can come between intention and
    decision
     Attitudes of others
     Unexpected situational factors

    Post-purchase Behavior
     Marketer’s job does not end
    with the sale of the product
     Consumer satisfied or
    dissatisfied?
     Answer lies in relationship between
    consumers expectations and product’s
    perceived performance
    Buyer Decision Process For New
    Products
    Adoption Process
     Mental process through which an individual passes
    from first hearing about an innovation to final
    adoption

     Awareness
     Interest
     Evaluation
     Trial
     Adoption
    Individual Differences in Innovativeness
    Influence of Product Characteristics on Rate
    of Adoption
     Relative Advantage
     Complexity
     Divisibility: degree to which innovation may be tried
    on a limited basis
     Communicability

     Ongoing costs
     Risk and uncertainty
     Social approval

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