Transcript of Consumer Behavior & Psychology. Definition Consumer buyer behavior refers to the buying behavior of...
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- Consumer Behavior & Psychology
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- Definition Consumer buyer behavior refers to the buying
behavior of final consumers- individuals and households that buy
goods for consumption- Kotler All these final consumers make up the
consumer market
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- Model of Consumer Behaviour How do consumers respond to various
marketing efforts the company might use?
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- Characteristics Affecting Consumer behaviour
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- Social Factors Groups Family Roles & Status
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- Personal Factors Age & life-cycle stage Occupation Economic
situation Lifestyle Personality & self concept
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- Psychological Factors Motivation Perception Learning Beliefs
& Attitudes
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- Types of Buying Decision Behaviour
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- Complex Buying Behaviour Type of Product Expensive Risky
Purchased infrequently Highly self-expressive Brand Must understand
the information gathering and evaluation behaviour of buyers Need
to help buyers learn about the product class, attributes and
relative importance Describe benefits Print media Motivate stores
sales people and buyers acquaintance to influence the final brand
choice eg: Electronics
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- Dissonance-reducing Buying Behaviour Type of product Expensive
Risky Purchased infrequently Highly self-expressive Brand Provide a
good price Offer convenience Mitigate dissonance - provide after
sales communication with evidence and support to help consumers
feel good about there product eg; Carpets, Furniture
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- Habitual Buying Behaviour Type of product In expensive
Frequently Purchased Familiar/ loyal Brand Provide a good price
Offer Promotions Create top of mind use colors symbols (TV led
advertising) eg; personnel care products
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- Variety Seeking Buying Behaviour Type of product In expensive
Frequently Purchased Familiar Large choice/variety Brand Market
Leader create habitual behaviour Dominating shelf space Stocking up
Reminder advertisements Challengers Offers lower price/special
deals Coupons, samples Advertising that presence reason for trying
something new eg; confectionary
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- The Buyer Decision Process
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- The Buyer Decision Process for New Products Consumer go through
five stages in the process of adopting a new product: Awareness
Interest Evaluation Trial Adoption
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- Zero Moment of Truth
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- Individual Differences in Innovativeness Marketing efforts in
innovation
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- Influence of Product Characteristics on Rate of Adoption
Relative advantage Compatibility Complexity Divisibility
Communicability