1. What are Consumers? A person who uses a product or service.
If you use products regularly, you are a consumer.

2. The Buying Decision What are consumers thinking when making purchases?
Depends on the product or service
TV vs. candy
Planned and researched or impulse?

3. Think / Pair / Share
What is the last MAJOR purchase that you had a say in making?
Think it over by yourself and, when you are ready, discuss the purchase with the person next to you.
What was the process involved in your purchase?

4. MOTIVATION Need or want Biological – basic, physical needs
Emotional – love, joy, fear
Rational – thinking part of us
Social – peer pressure

5. Need Motivation? http://youtube.com/watch?v=UfWTQA6QPk4

6. Needs Vs. Wants What is a need? What is a want? Essential to survival
Examples
Food
Protection
Sense of belonging
What is a want?
Not necessary to survival but add pleasure and comfort to our lives
Examples
Cable television
XBox

7. Motivational Theory –Maslow’s Hierarchy of Needs
Why do consumers make the purchases they do?

8. Mazlow Continued
Physiological Needs The most basic needs that are vital to survival, such as the need for water, air, food, and sleep
Security Needs These include needs for safety and security. Examples: steady employment, health insurance, safe neighbourhoods, and shelter from the environment.
Social Needs Belonging, love, acceptance and affection. Example: friendships, romantic companionship, involvement in social, community, or religious groups.

9. Mazlow Continued
Esteem Needs The need for things that reflect on self-esteem, personal worth, social recognition, and accomplishment.
Self-actualizing Needs These people are self-aware, concerned with personal growth, less concerned with the opinions of others, and interested fulfilling their potential.

10. Fad
A fad is a product, service, or idea that is extremely popular for a very brief period of time, then it becomes unpopular just as quickly
Examples include:
Movies
Books
Songs
Who Let the Dogs Out?

11. Fads Furby Tamagotchi Many were sold when it came out
After a while no one wanted one
Tamagotchi
Were very popular
A lot of kids had one
After a while they declined

12. What does the Fad graph look like?

13. Trends
A trend is different than a fad in that it has a more lasting effect on the marketplace
Example:
Based on population forecasts/trends, RBC just announced they plan to open another 1000 branches before 2010 to service an ageing cliental and increasing immigrant group that prefers to do their banking at a branch.

14. Trends Disco Clothes Leggings and Flats Many people were wearing them
Happened in the 70’s
Influenced by disco
Leggings and Flats
Lots of people wearing them
People started wearing these all of a sudden
They are popular.