Consumer Market and Consumer Buyer Behavior
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Transcript of Consumer Market and Consumer Buyer Behavior
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8/6/2019 Consumer Market and Consumer Buyer Behavior
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By:Dan Carlo PoblacionNeil Ceasar Gumban
Rickeval AlovaNeil Derrek Dullesco
BABA2B
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Define what Consumer Market and Consumer
Buyer Behavior is. Identify the key factors that influence buyerbehavior.
Understand the types of buying decision
behavior and the buyer decision process. Comprehend the adoption and diffusion process
for new products.
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It is composed of individuals who buy a specific
good or service. These individuals purchase products, goods and
services for their own consumption.
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It refers to the buying behavior of final
consumers individuals and households whobuy goods and services for personalconsumption.
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Why consumers make the purchases that they
make? What factors influence consumer purchases?
The changing factors in our society.
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Buyers reactions to a firms marketing strategy hasa great impact on the firms success.
The marketing concept stresses that a firm shouldcreate a Marketing Mix that satisfies customers,therefore need to analyze the what, where, whenand how consumers buy.
Marketers can better predict how consumers willrespond to marketing strategies.
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Stimuli 4Ps
Other
characteristics economic
technological
political
cultural
Buyer ResponseProduct choice
Brand choice
Dealer choice
Purchase timing
Purchase amount
Buyers Black BoxBuyer characteristics
Buyer decision process
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Characteristics Affecting ConsumerCharacteristics Affecting Consumer
BehaviorBehavior Culture
xForms a persons wantsand behavior
SubculturexGroups with shared
value systems
Social Class
xSocietys divisions whoshare values, interestsand behaviors
Cultural
Social
Personal
Psychological
Key FactorsKey Factors
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Groupsx Membership
x Reference
xAspirationalx Opinion Leaders
x Buzz marketing
Family
x Many influencers
Roles and Status
Cultural
Social
Personal
Psychological
Key FactorsKey Factors
Characteristics Affecting ConsumerCharacteristics Affecting Consumer
BehaviorBehavior
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Membership and
Reference Individual identifieswith the group to theextent that he takes onmany of the values,
attitudes or behaviorsof the group members.
Opinion Leaders
Marketers use and payspokespeople to markettheir products.
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that many family decisions are made by the
family unit consumer behavior starts in the family unit
family roles and preferences are the model forchildren's future family (can reject/alter/etc)
family buying decisions are a mixture of familyinteractions and individual decision making
family acts an interpreter of social and culturalvalues for the individual
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Age and life cycle
Occupation
Economic situation Lifestyle
xActivities, interests andopinions
x
Lifestyle segmentation Personality and self-
concept
Cultural
Social
Personal
Psychological
Key FactorsKey Factors
Characteristics Affecting ConsumerCharacteristics Affecting Consumer
BehaviorBehavior
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Motivation
Perception Learning
Beliefs and
attitudes
Cultural
Social
Personal
Psychological
Key FactorsKey Factors
Characteristics Affecting ConsumerCharacteristics Affecting Consumer
BehaviorBehavior
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A motive is a need that is sufficiently pressing to
direct the person to seek satisfaction Motivation research is based on Freud; Looks
for hidden and subconscious motivation
Maslow ordered needs based on how pressing
they are to the consumer
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Perception is the process by which people select,
organize, and interpret information Perception Includes:
Selective attentionx Consumers screen out information
Selective distortionx People interpret to support beliefs
Selective retentionx People retain points to support attitudes
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Learning describes changes in an individualsbehavior arising from experience
Learning occurs through: Drives
x Internal stimulus that calls for action
Stimulix
Objects that move drive to motive Cuesx Minor stimuli that affect response
Reinforcementx Feedback on action
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Belief a descriptive thought about a brand or service
may be based on real knowledge, opinion, or faith
Attitude describes a persons evaluations, feelings and
tendencies toward an object or idea
They are difficult to change
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Level ofInvolvement in purchase decision.I
mportance and intensity of interest in a productin a particular situation.
Buyers level of involvement determines why
he/she is motivated to seek information about acertain products and brands but virtuallyignores others
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Complex Highly involved, significant brand differences Example computer
Dissonance-reducing Highly involved, little brand differences Example carpeting
Habitual Low involvement, little brand differences Example salt
Variety-seeking Low involvement, significant perceived brand
differences Example cookies
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Need recognition
Information search
Evaluation of
alternatives Purchase decision
Postpurchase behavior
Needs can be triggeredby:
Internal stimulix Normal needsbecome strongenough to drive
behavior
External stimuli
x Advertisements
x Friends of friends
ProcessProcessStagesStages
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Need recognition
Information search
Evaluation of
alternatives Purchase decision
Postpurchase behavior
Consumers exhibitheightened attention oractively search forinformation.
Sources of information:
Personal
Commercial Public
Experiential
Word-of-mouth
ProcessProcessStagesStages
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Need recognition
Information search
Evaluation of
alternatives Purchase decision
Postpurchase behavior
Evaluation procedure
depends on the consumerand the buying situation.
Most buyers evaluatemultiple attributes, each of
which is weighteddifferently.
At the end of the evaluationstage, purchase intentionsare formed.
ProcessProcessStagesStages
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Need recognition
Information search
Evaluation of
alternatives Purchase decision
Postpurchase behavior
Two factors intercede
between purchaseintentions and the actualdecision:
Attitudes of others
Unexpected situationalfactors
ProcessProcessStagesStages
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Need recognition
Information search
Evaluation of
alternatives Purchase decision
Postpurchase behavior
Satisfaction is important: Delighted consumers
engage in positive word-of-mouth.
Unhappy customers tell onaverage 11 other people.
It costs more to attract anew customer than it doesto retain an existingcustomer.
Cognitive dissonance iscommon
ProcessProcessStagesStages
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Buyer Decision Process for NewBuyer Decision Process for NewProductsProducts
New Products
Good, service or idea that is perceived bycustomers as new.
Stages in the Adoption Process Marketers should help consumers move
through these stages.
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Individual Differences in Innovativeness
Consumers can be classified into five adoptercategories, each of which behaves differently towardnew products.
Product Characteristics and Adoption Five product characteristics influence the adoption
rate.
Buyer Decision Process for NewBuyer Decision Process for NewProductsProducts
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International Consumer Behavior Values, attitudes and behaviors differ greatly in other
countries.
Physical differences exist which require changes in themarketing mix.
Customs vary from country to country.
Marketers must decide the degree to which they willadapt their marketing efforts.
Buyer Decision Process for NewBuyer Decision Process for NewProductsProducts