Chapter 5- slide 1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall I t ’s good and good for you Chapter 3 Consumer Markets and Consumer Buyer Behavior

Chapter 5- slide 2 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Consumer Markets and Consumer Buyer Behavior Model of Consumer Behavior Characteristics Affecting Consumer Behavior Types of Buying Decision Behavior The Buyer Decision Process The Buyer Decision Process for New Products Topic Outline

Chapter 5- slide 3 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Consumer buyer behavior : the buying behavior of final consumers, individuals and households, who buy goods and services for personal consumption Consumer market : all of the personal consumption of final consumers Model of Consumer Behavior

Chapter 5- slide 4 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Model of Consumer Behavior

Chapter 5- slide 5 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Factors Influencing Consumer Behavior

Chapter 5- slide 6 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Culture is the learned values, perceptions, wants, and behavior from family and other important institutions Characteristics Affecting Consumer Behavior

Chapter 5- slide 7 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Family is the most important consumer- buying organization in society Social roles and status are the groups, family, clubs, and organizations that a person belongs to that can define role and social status Social Factors

Chapter 5- slide 8 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Occupation affects the goods and services bought by consumers Economic situation includes trends in: Personal Factors Personal income Savings Interest rates

Chapter 5- slide 9 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Psychological Factors Motivation Perception LearningBeliefs and attitudes

Chapter 5- slide 10 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Characteristics Affecting Consumer Behavior Belief is a descriptive thought that a person has about something based on: Knowledge Opinion Faith Psychological Factors Beliefs and Attitudes

Chapter 5- slide 11 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Types of Buying Decision Behavior Complex buying behaviorDissonance-reducing buying behaviorHabitual buying behaviorVariety-seeking buying behavior

Chapter 5- slide 12 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall Types of Buying Decision Behavior Four Types of Buying Behavior

Chapter 5- slide 13 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process Buyer Decision Making Process

Chapter 5- slide 14 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process Occurs when the buyer recognizes a problem or need triggered by: –Internal stimuli –External stimuli Need Recognition

Chapter 5- slide 15 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process Personal sources—family and friends Commercial sources—advertising, Internet Public sources—mass media, consumer organizations Experiential sources—handling, examining, using the product Information Search Sources of Information

Chapter 5- slide 16 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process How the consumer processes information to arrive at brand choices Evaluation of Alternatives

Chapter 5- slide 17 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process The act by the consumer to buy the most preferred brand The purchase decision can be affected by: –Attitudes of others –Unexpected situational factors Purchase Decision

Chapter 5- slide 18 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process Customer satisfaction is a key to building profitable relationships with consumers— to keeping and growing consumers and reaping their customer lifetime value Post-Purchase Decision

Chapter 5- slide 19 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall The Buyer Decision Process for New Products Adoption process is the mental process an individual goes through from first learning about an innovation to final regular use. Stages in the process include: Awareness Interest Evaluation Trial Adoption

Chapter 5- slide 20 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Printed in the United States of America. Copyright © 2012 Pearson Education, Inc. Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall