Consumer Behavior

Consumer Behavior Introduction … Lec. 1 Harcourt, Inc.

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Student assessment • 20 % midterm exam • 20 % work assessment • 60 % final exam

PRINCIPLES OF MARKETING Eighth Edition Philip Kotler and Gary Armstrong Consumer Behavior

Consumer Behavior Sixth Edition 2012 Wayne D.Hoyer Deborah J.Maclinns Rik Pieters

Consumer Buying Behaviorrefers to the buying behavior of final consumers (individuals & households) who buy goods and services for personal consumption. Study consumer behavior to answer: “How do consumers respond to marketing efforts the company might use?” Consumer Buying Behavior

The Nature of Consumer Behavior and Decision Making • Consumer Behavior: • The mental and emotional processes and physical activities people engage in when they select, purchase, use, and dispose of products or services to satisfy particular needs and desires.

Marketing and Other Stimuli Product Price Place Promotion Economic Technological Political Cultural Buyer’s Black Box Model of Consumer Behavior Characteristics Affecting Consumer Behavior Buyer’s Decision Process Buyer’s Response Purchase Timing Purchase Amount Product Choice Brand Choice Dealer Choice

Culture Characteristics Affecting Consumer Behavior Social Personal Psychological Buyer

Figure 6-2: Factors Influencing Consumer Behavior

Culture • Most basic cause of a person's • wants and behavior. Factors Affecting Consumer Behavior: • Subculture • Groups of people with shared value systems based on common life experiences. • Social Class • People within a social class tend to exhibit similar buying behavior. • Occupation • Income • Education • Wealth

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Consumer Behavior