Consumer Markets & Buyer Behavior ALEX TONE, DILLON FOSTER, JANICE SAN NICOLAS, DANNY GIRARD, ANTOINE COUTURIER
Agenda Major forces influencing consumer behavior Selected product: GoPro. How marketers use forces to influence potential customers Reflection Discussion Questions
Major Forces Influencing Consumer Behavior Cultural Factors Social Factors Personal Factors Psychological Factors
Cultural Factors Culture Culture is the most basic cause of a person’s wants and behavior learned from family and other important institutions. Subculture Groups of people with shared value systems based on common life experiences and situations. Social classes Social classes are society’s relatively permanent and ordered divisions whose members share similar values, interests, and behaviors.
Social Factors Groups and Social Networks Membership Groups Aspiration Groups Reference Groups Family Family is the most important influence in consumer buying behavior. Roles and Status Person’s position in the group they belong to.
Personal Factors Self-Concept Possessions reflect a consumers identities Age Life stage segmentation Occupation Marketing strategies specialized regarding occupations
Psychological Factors Motivation Perception Learning Beliefs and Attitude
Product GoPro Hero Slogan: Be a HERO… GoPro GoPro produces arguably the most versatile cameras in the world, the famous HD Hero.
GoPro
How marketers use those forces to influence potential customers Groups and Social Networks Two key groups for GoPro: Membership Group Aspirational Group
How marketers use those forces to influence potential customers Brand Personality and Self Concept Lifestyle Extreme sports Daily life
Maslow’s Hierarchy of Needs GoPro fills: Social needs Esteem needs
Reflection
Discussion questions 1. In your own opinion, which of the four major forces affects consumer behavior the most? a. Cultural factors b. Social factors c. Personal factors d. Psychological factors 2. What is driving the Apple consumers’ behavior in your own opinion from the video?