Analyzing Consumer Markets

Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 2 of 31 Possible Questions 1.How do consumer characteristics influence buying behavior? 2.What major psychological processes influence consumer responses to the marketing program? 3.How do consumers make purchasing decisions? 4.In what ways do consumers stray from a deliberative, rational decision process?

Defined Copyright © 2012 Pearson Education, Inc. Publishing as Prentice HallSlide 3 of 31 The study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs or wants. Consumer Behavior

Cultural Factors Social Factors Personal Factors

Cultural Factors Culture Subculture Social Class

Social Factors Reference Groups Family Role and Status

Personal Factors Age Life Cycle Stage Personality

Personal Factors Values Occupation Lifestyle Economic situation

Psychological Factors

Motivation Freud Maslow Herzberg

Maslow’s Hierarchy of Needs

Perception Selective Distortion Selective Retention Selective Attention Subliminal Perception

Learning Driver Cues Discrimination

Emotions

Memory Brand Associations Mental Maps Memory Processes Encoding Retreival Brand Association

The Buying Decision Process

Buying Decision Process

Problem Recognition Stimulus Internal External “I’m Hungry”

Information Search Personal Commercial Public Experiential

Successive Sets Involved in Consumer Decision Making

Evaluation of Alternatives Attitudes Beliefs

Steps between Evaluation of Alternatives and Purchase Decision

Postpurchase Behavior Postpurchase Satisfaction Postpurchase Actions Defect Loyal Dissatisfied Satisfied Delighted Stay or Go

How Customers Use or Dispose of Products

Behavioral Decision Theory Decision Heuristics Decision Framing