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Consumer Behavior - PowerPoint PPT Presentation


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Consumer Behavior. Consumer Buying Decision Process. Marketers Must Identify and Understand:. Who Makes the Buying Decision. Types of Buying Decisions. Stages in the Buying Process. Understand Buying roles Buying behavior Buying decision process. Initiator Influencer Decider Buyer

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consumer buying decision process
Consumer Buying Decision Process

Marketers Must Identify and Understand:

Who Makes the Buying Decision

Types of Buying Decisions

Stages in the Buying Process

consumer buying decision process3
Understand

Buying roles

Buying behavior

Buying decision process

Initiator

Influencer

Decider

Buyer

User

Consumer Buying Decision Process
consumer buying decision process4
Understand

Buying roles

Buying behavior

Buying decision process

Complex buying behavior

Dissonance-reducing buying behavior

Habitual buying behavior

Variety-seeking buying behavior

Consumer Buying Decision Process
consumer buying decision process5
Understand

Buying roles

Buying behavior

Buying decision process

Five stages in the consumer buying process

The amount of time spent in each stage varies according to several factors

Consumer Buying Decision Process
consumer buying decision process6
Consumer Buying Decision Process

Five-Stage Model of the Consumer Buying Process

need recognition
Need:

Occurs when the consumer’s current level of satisfaction does not equal their desired level of satisfaction.

Want:

A consumer’s desire for a specific product that will satisfy the need.

Demand:

When the want for a specific product is backed up by the customer’s ability and willingness to pay for the product.

Need Recognition
information search 1 of 2
Marketing stimuli can stimulate a desire for information:

Passive Information Search

Active Information Search

Sources of information:

Internal Sources

Personal Sources

External Sources

Information Search(1 of 2)
information search 2 of 2
Time, effort and expense dedicated to information search depends on:

Degree of risk involved in the purchase

Financial risk

Social risk

Emotional risk

Personal risk

Amount of expertise with the product category

Actual cost of the search

Evoked set:

A narrowed down set of alternatives that the customer is considering

Information Search(2 of 2)
consumer buying decision process10
Consumer Buying Decision Process

Successive Sets Involved in Consumer Decision Making

evaluation of alternatives
Evaluation of Alternatives
  • Customers evaluate products as bundles of attributes
    • Brand attributes
    • Product features
    • Aesthetic attributes
    • Price
  • Customers place different levels of importance on attributes
  • Important considerations in the evaluation stage:
    • Products must be in the evoked set
    • Consumers’ choice criteria must be understood
    • Marketing programs must be designed to influence consumers’ opinions about product or brand image
purchase decision
Purchase Decision
  • Purchase intention and the act of buying are distinct concepts
  • Potential intervening factors between intention and buying (car example):
    • Unforeseen circumstances
    • Angered by the salesperson or sales manager
    • Unable to obtain financing
    • Customer changes mind
  • Key issues in the purchase decision stage:
    • Product availability
    • Possession utility
postpurchase evaluation
Postpurchase Evaluation
  • Four possible outcomes in the postpurchase stage:
    • (1) Delight
    • (2) Satisfaction
    • (3) Dissatisfaction
    • (4) Cognitive Dissonance
  • Cognitive dissonance is more likely to occur when:
    • Dollar value of the purchase increases
    • Opportunity cost of rejected alternatives is high
    • Purchase decision is very involving or emotional
  • Firm’s ability to manage dissatisfaction and cognitive dissonance is:
    • A key to creating customer satisfaction
    • A major influence on word-of-mouth communication
factors affecting the consumer buying process
Factors Affecting theConsumer Buying Process
  • Decision-Making Complexity
    • High/Low Complexity
  • Individual Differences
    • Demographics, perceptions, motives, interests, attitudes, opinions, lifestyles, self-concept,etc.
  • Social Influences
    • Culture, subculture, social class, reference groups, opinion leaders, etc.
  • Situational Influences (See next slide)