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Why do we need to study Consumer Behaviour?
Because no longer can we take the customer/consumer
for granted.
Failure rates of new products introduced
Out of 11000 new products introduced by 77 companies, only 56% are present 5 years later.Only 8% of new product concepts offered by 112 leading companies reached the market. Out of that 83% failed to meet marketing objectives.
Can Marketing be standardised?
No.Because cross - cultural
styles, habits, tastes, prevents such
standardisation.
Language Problems
“Please leave your values at the desk” - Paris hotel“Drop your trousers here for best results” - Bangkok laundry“The manager has personally passed all water served here” - Acapulco restaurant“Because of the impropriety of entertaining guests of the opposite sex in the bedroom, it is suggested that the lobby be used for the purpose.” - Zurich hotelLadies are requested not to have children in the bar.”- Norway bar
Consumer Buying Decision Process
Problem Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Post-PurchaseEvaluation
Stages in Family Life-Cycle
1. Single2. Newly Married Couples3. Full Nest I4. Full Nest II5. Full Nest III6. Empty Nest I7. Empty Nest II8. Solitary Survivor9. Solitary Survivor, Retired
Psychological Factors
MotivationPerceptionPerception
The process by which an individual selects, organizes, and interprets inputs to create a meaningful picture of the world.
Selective ExposureSelective DistortionSelective Retention
Psychological Factors
MotivationPerception
LearningLearningChanges in an individual’s behavior arising form experience
Psychological Factors
MotivationPerception Learning
BeliefsBeliefsDescriptive thoughts that a person holds about something
Psychological Factors
MotivationPerceptionLearningBeliefsAttitudesAttitudes
Enduring favorable or unfavorable cognitive evaluations emotional feelings and action tendencies
Social Class
Relatively homogenous, enduring divisions in a society,
hierarchically ordered with members sharing similar
values, interests, and behaviors.
Culture & Subcultures
CulturesThe accumulation of values, knowledge, beliefs, customs, objects, and concepts that a society uses to cope with its environment
SubculturesGroups of individuals who have similar value and behavior patterns within the group but differ from those in other groups.
Examples of Buying Motives:Psychological or Functional?
A senior wants to impress his date at the prom .His primary motive is …?
Psychological
Examples of Buying Motives:Psychological or Functional?
A girl wants to remember her grandmother on her birthday.Her primary motive is…?
Psychological
Examples of Buying Motives:Psychological or Functional?
A homemaker needs a new washing machine and has had good experiences with Sears.Her primary motive is …?
Functional
Examples of Buying Motives:Psychological or Functional?
A teacher wants to buy a practical car to be used for family transportation.Her/His primary motive is …?
Functional
Examples of Buying Motives:Psychological or Functional?
A career woman always buys Liz Claiborne clothes.Her primary motive is…?
Psychological
Examples of Buying Motives:Psychological or Functional?
An overweight 40 year old man wants to loose weight so that he can reduce his blood pressure.His primary motive is…?
Functional
Examples of Buying Motives:Psychological or Functional?
A homeowner needs to mow their lawn. Their primary motive is…?
Functional
Consumer Buying Behavior Competency
Functional Motive
Psychological Motive
The price is 40 cents off the regular price.
It never needs ironing.
Diamonds are forever.
Serving you since 1971.
Ninety-day warranty.
Consumer Buying Behavior Competency
Functional Motive
Psychological Motive
Running shoe with built-in arch.
It’s all the rage—colored action wear and style.
Wheaties—the breakfast of champions!
Steel-belted radial tires warranted for 40,000 miles
A watch—a gift she will treasure always.
Consumer Behavior Model (Stages of Buying Process)
Passive Information Gathering - Receiving and processing of information regarding existence, quality, services, stores, convenience, pricing, advertising that consumer might consider in making a purchase
Consumer Behavior Model (Stages of Buying Process)
Need Recognition - Consumer recognizes a need or desire for the product or service. When the need is high relative to barriers to resolving need there is a shop trigger event
Consumer Behavior Model (Stages of Buying Process)
Active Information Gathering - Comparison of different products, brands, colors, capabilities, etc.
Consumer Behavior Model (Stages of Buying Process)
Purchase Decision - Two decisions. First is buy or no-buy. If decision is to buy then timing of purchase is second decision.
Consumer Behavior Model (Stages of Buying Process)
Transaction - Final negotiation as to Price, Store, Credit or Cash, etc. An opportunity for retailers to market “extras”.
Consumer Behavior Model (Stages of Buying Process)
Post Purchase Evaluation - Did the product and retail experience meet the consumer’s expectations