1. Consumer Buying Behavior

2. Five Step Model of the Buying process Need arousal Collection of information Evaluation of information Purchase Post-purchase evaluation

3. Shortcomings of the model Consumers withdraw Stages overlap Stages are skipped Several buying decisions occur simultaneously

4. Step 1: Need Arousal Conscious Unconscious Preconscious

5. Types of Needs Functional needs Psychological needs –Stimulation –Social –Trends –Status and power –Self-reward Conflicting

6. Step 2: Information Search Sources of information –Internal vs. external Time spent searching

7. Step 3: Evaluate alternatives Multi-attribute model –Used to evaluate merchandise –Used to evaluate retailers How retailers can affect this

8. Step 4:Purchase Increasing the likelihood of purchase –Don’t stock out –Fair return policies –Credit –Convenience –Reduce waiting time

9. Step 5: post-purchase Satisfaction Dissonance

10. Types of buying situations Extended problem-solving Limited problem-solving –Impulse purchase Habitual problem solving –Brand loyalty –Store loyalty

11. Psychological influences on the buying process Perception Learning Attitude Personality

12. Situational influences on buying behavior Time Surroundings Customer moods and motives

13. Social influences on buying behavior Family/household –Family decision making –Family life cycle Reference groups Culture –Subculture Social class

14. Consider: How do these elements affect the buyer’s job? –The buying process –Psychological, social, and situational influences How do these elements factor into the buyer’s role in the organization?