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Importance of Consumer Behavior - PowerPoint PPT Presentation


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MKTG. 5. CHAPTER. Consumer Decision Making. consumers make purchase decisions. Consumer behavior. = HOW. consumers use and dispose of product. Understanding Consumer Behavior. Importance of Consumer Behavior. Why study consumer behavior?

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Presentation Transcript
slide1

MKTG

5

CHAPTER

Consumer

Decision Making

slide2

consumers make purchase decisions

Consumer behavior

= HOW

consumers use anddispose of product

Understanding Consumer Behavior

importance of consumer behavior
Importance of Consumer Behavior
  • Why study consumer behavior?
    • Complex: personality is a poor predictor of purchasing.
    • Purchasing agent is variable (no longer wife, husband, etc…)
    • May have + attitude

without intent to buy

(I like Jennifer Anniston

v.s. I plan to see Anniston’s

new movie; Mercedes)

    • Routine or involved

decisions

an involved choice
Time (convenience stores a good value vs grocery?)

3. Atmospherics (how stores makes you feel)

What are some of the other things that makes you purchase a particular product?

2. Reason for purchase (gift vs personal use; restaurant choice)

An Involved Choice?
  • Previous experience, interest, risk, social visibility and purchase situation
  • Purchase situation includes:
consumer decision making process

Need Recognition

(vs.want)

Information Search

(internal/external)

Cultural, Social, Individual and

Psychological Factors affect all steps

Evaluation

of Alternatives

(evoked set)

Purchase

Postpurchase

Behavior

(satisfaction, cognitive dissonance)

Consumer Decision-Making Process
cognitive dissonance
Cognitive Dissonance

Dissonance

  • Buyer’s remorse
  • Ex: Neiman Marcus, United Airlines, and what else??
other influences
Other Influences
  • Social factors (reference groups,

opinion leaders, family)

  • Cultural factors (values,

subcultures, class)

  • Individual factors

(demographics, psychographics)

  • Psychological factors (perception, motivation, learning, and beliefs)
social factors
Social Factors

Reference groups

  • Those you look to for guidance. What are some reference groups that you can think of??
  • Marketers: opinion leaders, influence others, usually type of product
  • Most influential for visible products (car vs mattress – function)
cultural influences
Cultural Influences
  • Subcultures and values
  • Social Class is defined as people with the same status in a society.
  • It is NOT simply a function of income
      • Factors U.S.: usually measured
        • Occupation
        • Education
        • Housing
      • U.S. is fluid (change)
      • People over rank themselves
individual influences

1936

1965

1972

1986

1980

current

Individual Influences
  • Demographic change
  • Change in lifestyles and attitudes

Betty Crocker pictures change as consumer attitudes and lifestyles also change.

oil of olay ads
Oil of Olay Ads

Before

After

People did not see the positive association between oil and beauty. As such, the second logo for Olay was changed and oil was taken out.

psychological influences
Psychological Influences

Perception

  • Gathering & interpreting of information from the world around us.
  • The process involves:
    • Selective exposure
      • Seek what interests us, ignore others
      • Ex: political information and what else??
    • Selective distortion
      • Screen/modify ideas we disagree with
      • Ex: power of suggestion, Bugs Bunny, and what else??
    • Selective retention
      • Remember what you want
      • Ex: forget homework, photo memory
slide15

A method of classifying human needs and motivations into five categories in ascending order of importance.

Motivation

Maslow’s Hierarchy

of Needs

slide16

Exhibit 5.5

Maslow’s Hierarchy of Needs

Maslow’s Hierarchy of Needs

LO7

summary
Summary
  • Why study consumer behavior?
  • Involvement factors
    • Social, cultural, individual, psychological
  • Hierarchy of needs
  • Any questions?
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