ANALYZING CONSUMER MARKETS AND BUYER BEHAVIOR CHAPTER 6 ANALYZING CONSUMER MARKETS AND BUYER BEHAVIOR

INFLUENCING FACTORS IN BUYING BEHAVIORS Cultural Factors: Culture: Wants and behaviors of consumers Subculture: Nationalities, religion and regional differences Social Class: Income factor: social classes differ in many characteristics-high, middle and low income groups members behave more alike within each class members perceived as inferior/superior clusters of variation exists in each class members move from one class to another.

INFLUENCING FACTORS IN BUYING BEHAVIORS Social Factor: Reference Groups-membership groups: primary-family, relatives, co-workers secondary-professional groups aspirational dissociative opinion leaders Family: Husband, wife and children Role and Status.

INFLUENCING FACTORS IN BUYING BEHAVIORS Personal Factors: Age and Life Cycle Stages family life cycle psychological life cycle Occupation: White color or blue color workers Economic Circumstances: Spending/saving Life Style: Psychographics and Value and life styles (VALS principle Personality and Self-Concept-self image: actual self-concept-how you view yourself ideal self-concept-how you would like to view yourself others self-concept-how you think others view yourself

INFLUENCING FACTORS IN BUYING BEHAVIORS Psychological Factors: Motivation: Need satisfaction and drive to act: biogenic-hunger, thirst psychogenic-esteem, recognition motive-pressing person to act Theories of motivation: Freud’s theory -unconscious behaviors Maslow’s theory-need satisfaction Herzberg’s theory-satisfiers/dissatisfiers Perception-How the motivated person act: Selective attention: People do not pay attention everything around them Selective distortion: People twist information into personal meaning Selective Retention: People will forget what they learn

INFLUENCING FACTORS IN BUYING BEHAVIORS Learning-arise from experience Drive: Strong internal stimulus impelling action Cue: Minor stimuli Reinforcement: Rewarding experience Beliefs and Attitudes: Beliefs: Descriptive thought based on knowledge and opinion Attitudes: Favorable/unfavorable feelings

BUYING PROCESS Buying Roles: Buying Behavior: initiator-person who suggests the idea influencer-person who gives advise decider-person who decides to buy buyer-person who makes actual purchase user-person who consumes Buying Behavior: complex buying behaviors: High-involvement: Develop beliefs Develop attitudes Purchase decision

BUYING PROCESS (CONT.) Dissonance reducing behaviors Few differences between brands: Infrequent purchase Habitual behavior: Low-involvement: Brand familiarity and conviction. Techniques to convert high involved purchase to low involved purchase: link the product to some issues(problem solving) link to personal situation trigger emotions add important features, Variety-seeking buying behaviors: Brand switching

BUYING PROCESS (CONT.) Buying Decision Process: Problem recognition Information search: personal-family friend commercial-advertising, salesperson public-consumer union experiential-personal experience Information about competing set of brands: total set awareness set consideration set choice set final decision

BUYING PROCESS (CONT.) Evaluation of alternatives: Purchase: Brand belief and brand image(needs and benefits) Purchase: attitudes of others unanticipated situational factors perceived risk Purchase sub-decisions: Brand, vendor, quantity, timing and payment method Post Purchase behaviors: Post-purchase satisfaction: Satisfied, somewhat satisfied, dissatisfied Post-purchase action: Repeat purchase Complains Post-purchase use and disposal of product: Storage and new uses of the product