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Understanding Consumer Behavior: Cultural, Social, and Psychological Influences

This comprehensive analysis explores the complex factors influencing consumer behavior, including cultural, social, family roles, and personal elements such as age, income, and personality. We delve into psychological theories of motivation, perception, and learning, including insights from Freud, Maslow, and Skinner. The discussion covers models like the Elaboration Likelihood Model (ELM) and decision-making heuristics, shedding light on low and high involvement strategies. Learn how personal relevance impacts consumer engagement and the role of involvement in marketing strategies.

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Understanding Consumer Behavior: Cultural, Social, and Psychological Influences

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Presentation Transcript

  1. MARKETING MANAGEMENT Analyzing Consumer Markets

  2. Influences on Consumer Behavior • Cultural Factors • Social Factors • Reference Groups • Family, Roles • Personal factors • Age and “stage” • Economics (income, education) • Personality • Lifestyle and Values

  3. Psychological approaches MOTIVATION, PERCEPTION & LEARNING • “Drives” • Freud • Maslow • Hertzberg • “Learning” • Pavlov • Skinner • “Cognitive”

  4. Rational Model of Product Disposal

  5. Involvement Elaboration Likelihood Model Low-involvement marketing strategies Variety-seeking buying behaviour Decision Heuristics Availability Representativeness Anchoring and adjustment Other Models of Decision Making

  6. Elaboration Likelihood Model • Petty & Caccioppo • Two questions: • Motivation to process? • Ability to process? • When YES to both: HIGH elaboration • Central cues • product • When NO: LOW elaboration • Peripheral cues - • source or ad

  7. INVOLVEMENT Decoding is ACTIVE • That is, it requires EFFORT • When will people to spend effort? • 1. When they CARE about what you’re saying • personal relevance This is the concept of INVOLVEMENT The personal relevance of the product interest, price

  8. Involvement transfer? Can a high level of involvement (e.g., for a sports team) transfer to a low involvement commercial product? • Celebrity effects? • “Vanity” credit cards http://www.mbna.ca/hockey_cardlist.html

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