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How & Why People Buy. People buy according to a Hierarchy of Needs(Maslow) Self-actualization Self-esteem/Ego Social Safety Physiological. How & Why People Buy.

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how why people buy
How & Why People Buy
  • People buy according to a Hierarchy of Needs(Maslow)
  • Self-actualization
  • Self-esteem/Ego
  • Social
  • Safety
  • Physiological
how why people buy1
How & Why People Buy
  • Values/Lifestyle influence buying behavior
  • VALS instrument classifies buying behavior based on resources and primary motivation
  • Three frames of reference:
  • Principle- Thinker, Believer
  • Status- Achiever, Striver
  • Action- Experiencer,etc
how why people buy2
How& Why People Buy
  • Buying behavior depends on the nature of the purchase
  • 1. Routine- repeat purchase with no new information
  • 2. Modified- repeat purchase with some new information(product characteristics,etc)
  • 3. New- first time purchase, new technology & uses, require learning/assessment
buyers can be grouped into market segments
Buyers can be grouped into Market Segments
  • Segments can be based on Values(VALS) or other characteristics such AS:
  • 1. Demographics-age,income for consumers: type &size of farm/business
  • 2. Psychographics- values, attitudes
  • 3. Benefits- nature of product and what it does for the purchaser(perceived in nature)
a look at large farm purchaser behavior
A Look At Large Farm Purchaser Behavior
  • Purdue Study of Large Farms(website)
  • Large Commercial Farms are one segment of farm types(List of farm types)
  • Commercial buying behavior differs from consumer buying
delineation of market segments research techniques
Delineation of Market Segments-research techniques
  • Market segments can be derived by:
  • 1. Ex ante delineation- classification based on characteristics
  • 2. Ex post- classification based on customer responses/statistical derivation using SPSS or other programs based on homogeneous grouping of responses(Lab project)
examples of statistical segmentation of markets
Examples of Statistical Segmentation of Markets
  • GMO foods
  • Natural food buying
  • Shopping behavior
  • Other