#5 Consumer Decision Making
#5 Consumer Decision Making
#5 Consumer Decision Making
LEARNING OBJECTIVES
5-1 Define the consumer market and construct a simple model of
consumer buyer behavior.
5-2 Name the four major factors that influence consumer buyer
behavior.
5-3 List and define the major types of buying decision behavior and
the stages in the buyer decision process.
5-4 Describe the adoption and diffusion process for new products.
LEARNING OBJECTIVE 1
Define the consumer market and construct a simple model of consumer buyer behavior.
CONSUMER MARKETS AND BUYER BEHAVIOR
Consumer buyer behavior is the buying behavior of final consumers—individuals
and households that buy goods and services for personal consumption.
Consumer markets are made up of all the individuals and households that buy or
acquire goods and services for personal consumption.
CONSUMER MARKETS AND BUYER BEHAVIOR
LEARNING OBJECTIVE 2
Name the four major factors that influence consumer buyer behavior.
CHARACTERISTICS AFFECTING CONSUMER BEHAVIOR
CHARACTERISTICS AFFECTING CONSUMER BEHAVIOR
Cultural Factors
Culture is the set of basic values, perceptions, wants, and behaviors learned by a
member of society from family and other important institutions.
CHARACTERISTICS AFFECTING CONSUMER BEHAVIOR
Cultural Factors
Subcultures are groups of people within a
culture with shared value systems based on
common life experiences and situations.
CHARACTERISTICS AFFECTING CONSUMER
BEHAVIOR
Cultural Factors
Social classes are society’s relatively permanent and ordered divisions whose
members share similar values, interests, and behaviors.
Measured as a combination of occupation, income, education, wealth, and other
variables
Characteristics Affecting Consumer Behavior
Cultural Factors
Major American Social Classes
Upper Class
Middle Class
Working Class
Lower Class
Characteristics Affecting Consumer Behavior
Social Factors
Groups and Social Networks
Sophistication Ruggedness
DEVELOPING MARKETING INFORMATION
Psychological Factors
Motivation
Perception
Learning
Perception is the process by which people select, organize, and interpret information to form a
meaningful picture of the world.
Perceptual Processes
Responses Reinforcement
CHARACTERISTICS AFFECTING CONSUMER BEHAVIOR
Psychological Factors
A belief is a descriptive thought that a person has about something based on:
knowledge
opinion
faith
Divisibility Communicability