Consumer Market and Consumer Buyer Behavior

8/6/2019 Consumer Market and Consumer Buyer Behavior

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By:Dan Carlo PoblacionNeil Ceasar Gumban

Rickeval AlovaNeil Derrek Dullesco

BABA2B


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Define what Consumer Market and Consumer

Buyer Behavior is. Identify the key factors that influence buyerbehavior.

Understand the types of buying decision

behavior and the buyer decision process. Comprehend the adoption and diffusion process

for new products.


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It is composed of individuals who buy a specific

good or service. These individuals purchase products, goods and

services for their own consumption.


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It refers to the buying behavior of final

consumers individuals and households whobuy goods and services for personalconsumption.


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Why consumers make the purchases that they

make? What factors influence consumer purchases?

The changing factors in our society.


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Buyers reactions to a firms marketing strategy hasa great impact on the firms success.

The marketing concept stresses that a firm shouldcreate a Marketing Mix that satisfies customers,therefore need to analyze the what, where, whenand how consumers buy.

Marketers can better predict how consumers willrespond to marketing strategies.


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Stimuli 4Ps

Other

characteristics economic

technological

political

cultural

Buyer ResponseProduct choice

Brand choice

Dealer choice

Purchase timing

Purchase amount

Buyers Black BoxBuyer characteristics

Buyer decision process


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Characteristics Affecting ConsumerCharacteristics Affecting Consumer

BehaviorBehavior Culture

xForms a persons wantsand behavior

SubculturexGroups with shared

value systems

Social Class

xSocietys divisions whoshare values, interestsand behaviors

Cultural

Social

Personal

Psychological

Key FactorsKey Factors


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Groupsx Membership

x Reference

xAspirationalx Opinion Leaders

x Buzz marketing

Family

x Many influencers

Roles and Status

Cultural

Social

Personal

Psychological



BehaviorBehavior


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Membership and

Reference Individual identifieswith the group to theextent that he takes onmany of the values,

attitudes or behaviorsof the group members.

Opinion Leaders

Marketers use and payspokespeople to markettheir products.


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that many family decisions are made by the

family unit consumer behavior starts in the family unit

family roles and preferences are the model forchildren's future family (can reject/alter/etc)

family buying decisions are a mixture of familyinteractions and individual decision making

family acts an interpreter of social and culturalvalues for the individual


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Age and life cycle

Occupation

Economic situation Lifestyle

xActivities, interests andopinions

x

Lifestyle segmentation Personality and self-

concept

Cultural

Social

Personal

Psychological



BehaviorBehavior


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Motivation

Perception Learning

Beliefs and

attitudes

Cultural

Social

Personal

Psychological



BehaviorBehavior


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A motive is a need that is sufficiently pressing to

direct the person to seek satisfaction Motivation research is based on Freud; Looks

for hidden and subconscious motivation

Maslow ordered needs based on how pressing

they are to the consumer


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Perception is the process by which people select,

organize, and interpret information Perception Includes:

Selective attentionx Consumers screen out information

Selective distortionx People interpret to support beliefs

Selective retentionx People retain points to support attitudes


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Learning describes changes in an individualsbehavior arising from experience

Learning occurs through: Drives

x Internal stimulus that calls for action

Stimulix

Objects that move drive to motive Cuesx Minor stimuli that affect response

Reinforcementx Feedback on action


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Belief a descriptive thought about a brand or service

may be based on real knowledge, opinion, or faith

Attitude describes a persons evaluations, feelings and

tendencies toward an object or idea

They are difficult to change


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Level ofInvolvement in purchase decision.I

mportance and intensity of interest in a productin a particular situation.

Buyers level of involvement determines why

he/she is motivated to seek information about acertain products and brands but virtuallyignores others


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Complex Highly involved, significant brand differences Example computer

Dissonance-reducing Highly involved, little brand differences Example carpeting

Habitual Low involvement, little brand differences Example salt

Variety-seeking Low involvement, significant perceived brand

differences Example cookies


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Need recognition

Information search

Evaluation of

alternatives Purchase decision

Postpurchase behavior

Needs can be triggeredby:

Internal stimulix Normal needsbecome strongenough to drive

behavior

External stimuli

x Advertisements

x Friends of friends

ProcessProcessStagesStages


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Need recognition

Information search

Evaluation of



Consumers exhibitheightened attention oractively search forinformation.

Sources of information:

Personal

Commercial Public

Experiential

Word-of-mouth



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Need recognition

Information search

Evaluation of



Evaluation procedure

depends on the consumerand the buying situation.

Most buyers evaluatemultiple attributes, each of

which is weighteddifferently.

At the end of the evaluationstage, purchase intentionsare formed.



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Need recognition

Information search

Evaluation of



Two factors intercede

between purchaseintentions and the actualdecision:

Attitudes of others

Unexpected situationalfactors



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Need recognition

Information search

Evaluation of



Satisfaction is important: Delighted consumers

engage in positive word-of-mouth.

Unhappy customers tell onaverage 11 other people.

It costs more to attract anew customer than it doesto retain an existingcustomer.

Cognitive dissonance iscommon



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Buyer Decision Process for NewBuyer Decision Process for NewProductsProducts

New Products

Good, service or idea that is perceived bycustomers as new.

Stages in the Adoption Process Marketers should help consumers move

through these stages.


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Individual Differences in Innovativeness

Consumers can be classified into five adoptercategories, each of which behaves differently towardnew products.

Product Characteristics and Adoption Five product characteristics influence the adoption

rate.



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International Consumer Behavior Values, attitudes and behaviors differ greatly in other

countries.

Physical differences exist which require changes in themarketing mix.

Customs vary from country to country.

Marketers must decide the degree to which they willadapt their marketing efforts.


Date post:	07-Apr-2018
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Consumer Market and Consumer Buyer Behavior

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