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Consumer Buying Behavior
Presented ByRaj Kishor SinghAccman Institute of ManagementGreater Noida
Learning Objectives
Understand the major factors influencing consumer behavior
Know and recognize the types of buying decision behavior
Understand the stages in the buying decision process
Consumer Market
Consists of all the individuals and households who buy or acquire goods and services for personal consumption.
Types of Buying Behavior
Routine Response
Limited Decision
Extension Decision
Impulse Buying
Consumer Buying Decision Process
Problem Recognition
Information Search
Evaluation of Alternatives
Purchase Decision
Post-PurchaseEvaluation
Factors Influencing Consumer Behavior
Personal
Psychological
Social
Cultural
Personal Factors
Age
Life-Cycle Stage
Stages in Family Life-Cycle
1. Single
2. Newly Married Couples
3. Full Nest I
4. Full Nest II
5. Full Nest III
6. Solitary Survivor
7. Retired
Personal Factors
Age
Life-Cycle Stage
Occupation
Economic Circumstances
Life Style
Psychological Factors
“Wants”Based on a want or desire to have something. Not a necessity.
Psychological Factors
Motivation:Freud
Id
Ego
Super Ego
MaslowHierarchy of Needs
Psychological FactorsMotivationPerceptionPerception
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
Motivation
Perception
LearningLearningChanges in an individual’s behavior arising form experience
Psychological Factors
Motivation
Perception
Learning
BeliefsBeliefsDescriptive thoughts that a person holds about something
Psychological FactorsMotivationPerceptionLearningBeliefsAttitudesAttitudes
Enduring favorable or unfavorable cognitive evaluations emotional feelings and action tendencies
Functional Factors
“Needs”Need over wants. Delivers to a real “need” to have something.
Social Class
Relatively homogenous, enduring divisions in a society,
hierarchically ordered with members sharing similar values,
interests, and behaviors.
Group Influences
Public LuxuriesGolf Clubs
Snow Skis
Sail Boat
Private LuxuriesTV Video Games
Ice Makers
Trash Compactors
Public NecessitiesWrist Watch
Automobiles
Dress Clothes
Private NecessitiesMattresses
Floor Lamps
Refrigerators
Strong Weak
Strong
Weak
Brand Choice
Prod
uct C
hoice
Family Influence on Buying Behavior
Husband-Dominant
Wife-Dominant
Equal
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.
Adoption Process
1. Awareness
2. Interest
3. Evaluation
4. Trial
5. Decision
6. Confirmation