Consumer Markets & Buyer Behavior

ALEX TONE, DILLON FOSTER,JANICE SAN NICOLAS, DANNY GIRARD, ANTOINE COUTURIER

Agenda

Major forces influencing consumer behavior

Selected product: GoPro.

How marketers use forces to influence potential customers

Reflection

Discussion Questions

Major Forces Influencing Consumer Behavior

Cultural Factors

Social Factors

Personal Factors

Psychological Factors

Cultural Factors

Culture Culture is the most basic cause of a person’s wants and behavior

learned from family and other important institutions.

Subculture Groups of people with shared value systems based on common

life experiences and situations.

Social classes Social classes are society’s relatively permanent and ordered

divisions whose members share similar values, interests, and behaviors.

Social Factors

Groups and Social Networks Membership Groups Aspiration Groups Reference Groups

Family Family is the most important influence in consumer

buying behavior.

Roles and Status Person’s position in the group they belong to.

Personal Factors

Self-Concept Possessions reflect a consumers identities

Age Life stage segmentation

Occupation Marketing strategies specialized regarding occupations

Psychological Factors

Motivation

Perception

Learning

Beliefs and Attitude

Product

GoPro Hero

Slogan: Be a HERO… GoPro

GoPro produces arguably the most versatile cameras in the world, the famous HD Hero.

GoPro

http://www.youtube.com/watch?v=wZi6_xWVIMs

How marketers use those forces to influence potential customers

Groups and Social Networks

Two key groups for GoPro: Membership Group Aspirational Group

How marketers use those forces to influence potential customers

Brand Personality and Self Concept

Lifestyle Extreme sports Daily life

Maslow’s Hierarchy of Needs

GoPro fills: Social needs Esteem needs

Reflection

Discussion questions

1. In your own opinion, which of the four major forces affects consumer behavior the most? a. Cultural factors b. Social factors c. Personal factors d. Psychological factors

2. What is driving the Apple consumers’ behavior in your own opinion from the video?http://www.youtube.com/watch?v=rRwcIumf-mI