5. Consumer and Business Buyer Behavior. ROAD MAP: Previewing the Concepts. Understand the consumer market and the major factors that influence consumer buyer behavior. Identify and discuss the stages in the buyer decision process. Describe the adoption and diffusion process for new products.
Consumer and Business Buyer Behavior
Roles & Status
Age & Life-Cycle Stage
Personality & Self-Concept
Beliefs & Attitudes
Culture is learned from family, church, school, peers, colleagues.
Culture includes basic values, perceptions, wants, and behaviors.
Sears is widely considered one of the most successful marketers to the U.S. Hispanic population. Its Spanish-language Web site features content and events carefully tailored to Hispanic consumers.
Marketers use buzz marketing by enlisting or even creating opinion leaders to spread the word about their brands.
Age and Life-Cycle Stage
Pattern of Living as Expressed
Step #1 = Need Recognition
Need recognition can be triggered by advertising. This ad from America’s Dairy Farmers alerts consumers of their need for more dairy products to build strong bones.
Step #2 = Information Search
Consumers May Use Careful Calculations & Logical Thinking
Consumers May Buy on Impulse and Rely on Intuition
Consumers May Make Buying Decisions on Their Own
Consumer May Make Decisions After Talking With Others
Marketers Must Study Buyers to Find Out
How They Evaluate Brand Alternatives
Factors That Influence Purchase Decision
Consumer satisfaction is a function of consumer expectations and perceived product performance.
Performance < Expectations Disappointment
Performance = Expectations Satisfaction
Performance > Expectations Delight
This ad encourages trial by offering a coupon.
13.5% Early Adopters
34% Late Majority
34% Early Majority
Group #1 - Innovators
Group #2 – Early Adopters
Group #3 – Early Majority
Group #4 – Late Majority
Group #5 - Laggards
Some products catch on almost overnight. Others, such as HDTV, take a long time to gain acceptance.
Contains far fewer but larger buyers.
Customers are more geographically concentrated.
Business demand is derived from consumer demand.
Nature of the Buying Unit:
Business purchases involve more decision participants.
Business buying involves a more professional purchasing effort.Business Markets
Business buyers usually face
more complex buying decisions.
Business buying process
tends to be more formalized.
Buyers and sellers are much
more dependent on each other.
B2B marketers often roll up their sleeves and partner with customers to jointly create solutions. Here, Fujitsu promises, “Our technology will keep you moving upward, and our people won’t let you down.”
Not a fixed and formally identified unit.
Membership will vary for different products and buying situations.
Buying Center Members:
GatekeepersParticipants in the Business Buying Process
Allegiance Healthcare Corporation deals with a wide range of buying influences, from purchasing executives and hospital administrators to the surgeons who actually use its products.
Public trading exchanges like the auto industry’s Covisint exchange offer a “faster, more efficient way to communicate, collaborate, buy, sell, trade, and exchange information—business to business.” The exchange handled more than $50 billion in auto-parts orders last year.
Click Here to Visit Covisint's Website