1. Analyzing Consumer Markets Marketing Management, 13 th ed 6

2. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-2 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?

3. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-3 What Influences Consumer Behavior? Cultural factors Social factors Personal factors

4. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-4 What is Culture? Culture is the fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions.

5. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-5 Subcultures Nationalities Religions Racial groups Geographic regions

6. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-6 Fast Facts 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

7. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-7 Social Classes Upper uppers Lower uppers Upper middles Middle Working Upper lowers Lower lowers

8. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-8 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

9. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-9 Social Factors Reference groups Family Social roles Statuses

10. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-10 Reference Groups Membership groups Primary groups Secondary groups Aspirational groups Disassociative groups

11. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-11 Family Distinctions Affecting Buying Decisions Family of Orientation Family of Procreation

12. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-12 Personal Factors Age Life cycle stage Occupation Wealth Personality Values Lifestyle Self-concept

13. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-13 Brand Personality Sincerity Excitement Competence Sophistication Ruggedness

14. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-14 Lifestyle Influences Multi-tasking Time-starved Money-constrained

15. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-15 Table 6.2 LOHAS (Lifestyles of Health and Sustainability) Market Segments Sustainable Economy Healthy Lifestyles Ecological Lifestyles Alternative Health Care Personal Development

16. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-16 Key Psychological Processes Motivation Perception Learning Memory

17. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-17 Motivation Freud’s Theory Behavior is guided by subconscious motivations Maslow’s Hierarchy of Needs Behavior is driven by lowest, unmet need Herzberg’s Two-Factor Theory Behavior is guided by motivating and hygiene factors

18. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-18 Maslow’s Hierarchy of Needs Physiological needs Safety needs Social needs Esteem needs Self-actualization needs

19. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-19 Perception Selective attention Selective retention Selective distortion Subliminal perception

20. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-20 Figure 6.4 Consumer Buying Process Problem recognition Information search Evaluation Purchase decision Postpurchase behavior

21. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-21 Sources of Information Personal Commercial Public Experiential

22. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-22 Non-Compensatory Models of Choice Conjunctive Lexicographic Elimination-by-aspects

23. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-23 Perceived Risk Functional Physical Financial Social Psychological Time

24. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-24 Other Theories of Consumer Decision Making Involvement Elaboration Likelihood Model Low-involvement marketing strategies Variety-seeking buying behavior Decision Heuristics Availability Representativeness Anchoring and adjustment

25. Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 6-25 Mental Accounting Consumers tend to… Segregate gains Integrate losses Integrate smaller losses with larger gains Segregate small gains from large losses