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Analyzing Consumer Behavior

Analyzing Consumer Behavior. Chapter Questions. How do consumer characteristics influence buying behavior? What major psychological processes influence consumer responses to the marketing program? How do consumers make purchasing decisions? How do marketers analyze consumer decision making?.

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Analyzing Consumer Behavior

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  1. Analyzing Consumer Behavior www.assignmentpoint.com

  2. Chapter Questions • How do consumer characteristics influence buying behavior? • What major psychological processes influence consumer responses to the marketing program? • How do consumers make purchasing decisions? • How do marketers analyze consumer decision making? www.assignmentpoint.com

  3. What Influences Consumer Behavior? • Cultural factors • Social factors • Personal factors www.assignmentpoint.com

  4. Culture The fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions. www.assignmentpoint.com

  5. Subcultures • Nationalities • Religions • Racial groups • Geographic regions • Special interests www.assignmentpoint.com

  6. Fast Fact About American Culture • The average American • chews 300 sticks of gum a year • goes to the movies 9 times a year • takes 4 trips per year • attends a sporting event 7 times each year www.assignmentpoint.com

  7. Social Classes Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers www.assignmentpoint.com

  8. Characteristics of Social Classes • Within a class, people tend to behave alike. • Social class conveys perceptions of inferior or superior position. • Class may be indicated by a cluster of variables (occupation, income, wealth). • Class designation is mobile over time. www.assignmentpoint.com

  9. Social Factors Reference groups Family Social roles Statuses www.assignmentpoint.com

  10. Reference Groups • Membership • Primary • Secondary • Aspirational • Dissociative www.assignmentpoint.com

  11. Family • Family of Orientation • Religion • Politics • Economics • Family of Procreation • Everyday buying behavior www.assignmentpoint.com

  12. Age Life cycle stage Occupation Wealth Personality Values Lifestyle Self-concept Personal Factors www.assignmentpoint.com

  13. Brand Personality • Sincerity • Excitement • Competence • Sophistication • Ruggedness www.assignmentpoint.com

  14. Key Psychological Processes • Motivation • Perception • Learning • Memory www.assignmentpoint.com

  15. Motivation • Freud’s theory • Maslow’s hierarchy of needs • Herzberg’s two-factor theory www.assignmentpoint.com

  16. Perception • Selective attention • Selective retention • Selective distortion • Subliminal perception www.assignmentpoint.com

  17. Figure 6.4 Consumer Buying Process • Problem recognition • Information search • Evaluation • Purchase decision • Post purchase behavior www.assignmentpoint.com

  18. Sources of Information • Personal • Commercial • Public • Experiential www.assignmentpoint.com

  19. Non-compensatory Models of Choice • Conjunctive • Lexicographic • Elimination-by-aspects www.assignmentpoint.com

  20. Functional Physical Financial Social Psychological Time Perceived Risk www.assignmentpoint.com

  21. Involvement Elaboration Likelihood Model Low-involvement marketing strategies Variety-seeking buying behavior Decision Heuristics Availability Representativeness Anchoring and adjustment Other Theories of Consumer Decision Making www.assignmentpoint.com

  22. Mental Accounting • Consumers tend to… • Segregate gains • Integrate losses • Integrate smaller losses with larger gains • Segregate small gains from large losses www.assignmentpoint.com

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