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Consumer Decision Making

Consumer Decision Making. FACT. Effective marketing BEGINS with customers. Needs & LOTS of Wants. Steps in the consumer decision making process. Buying motives. Buying motives – reasons consumers decide which products and services to purchase

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Consumer Decision Making

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  1. Consumer Decision Making

  2. FACT • Effective marketing BEGINS with customers

  3. Needs & LOTS of Wants

  4. Steps in the consumer decision making process

  5. Buying motives • Buying motives – reasons consumers decide which products and services to purchase • Emotional buying motives – reasons based on feelings, beliefs, and attitudes • Rational buying motives – guided by facts and logic

  6. Patronage Motives • LOCATION • MERCHANDISE • PRICING PRACTICES • ATMOSPHERE • SALESPEOPLE

  7. The 11 Common Buying Motives • Prestige: The desire to look and feel important, ex: owning valuable jewelry • Recognition: The desire to be noticed, ex: a tattoo • Gain: Intending to earn money, ex: buying a computer to expand a business • Economy: Wanting to save money, ex: buying an economy car to save money on gas • Health: To maintain or improve your health, ex: joining a health club to get into shape • Comfort: To enjoy being physically comfortable, ex: owning a down comforter  • Convenience: To save time and to make things easier, ex: a GPS system in your car • Safety & Protection: To feel safe and protected, ex: an alarm system in your home • Affection & Love: When we buy something for those we care about, ex: flowers on Mother's Day • Variety: To have change in our lives, ex: owning the same shirt in 5 different colors • Recreation: To spend money on activities we enjoy, ex: lift ticket for snowboarding

  8. Assignment – Buying Motives Collage • From the list of the 11 common buying motives (Prestige, Recognition, Gain, Economy, Health, Comfort, Convenience, Safety & Protection, Affection & Love, Variety, Recreation) look online and save a picture of a product that a customer might purchase where each buying motive is present. Arrange the pictures in a collage in PicMonkey • Ex: a pair of slippers for comfort, a diamond ring for affection & love. • *Note: many students paste out a picture of a man & woman embracing. This is NOT a product even though it shows affection & love. They must find a picture of a tangible product.

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