Analyzing Consumer Markets and Buyer Behavior

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1. Chapter 6 Analyzing Consumer Markets and Buyer Behavior PowerPoint by Karen E. James Louisiana State University - Shreveport 2. Objectives…
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  • 1. Chapter 6 Analyzing Consumer Markets and Buyer Behavior PowerPoint by Karen E. James Louisiana State University - Shreveport
  • 2. Objectives <ul><li>Determine how cultural, social, personal, and psychological factors influence consumer buying behavior. </li></ul><ul><li>Describe how the consumer makes a purchasing decision. </li></ul>
  • 3. Consumer Behavior <ul><li>The field of Consumer Behavior : </li></ul><ul><ul><li>“studies how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires.” </li></ul></ul>
  • 4. How and Why Consumers Buy <ul><li>Buying behavior is influenced by: </li></ul><ul><ul><li>Cultural factors </li></ul></ul><ul><ul><li>Social factors </li></ul></ul><ul><ul><li>Personal factors </li></ul></ul><ul><ul><li>Psychological factors </li></ul></ul>
  • 5. How and Why Consumers Buy <ul><li>Influence Factors </li></ul><ul><li>Cultural </li></ul><ul><li>Social </li></ul><ul><li>Personal </li></ul><ul><li>Psychological </li></ul><ul><li>Exert broadest and deepest influence </li></ul><ul><li>Culture </li></ul><ul><li>Subculture </li></ul><ul><li>Social classes </li></ul>
  • 6. How and Why Consumers Buy <ul><li>Upper Uppers </li></ul><ul><li>Lower Uppers </li></ul><ul><li>Upper Middles </li></ul><ul><li>Middle Class </li></ul><ul><li>Working Class </li></ul><ul><li>Upper Lowers </li></ul>Major U.S. Social Classes <ul><li>Lower Lowers </li></ul>
  • 7. How and Why Consumers Buy <ul><li>Influence Factors </li></ul><ul><li>Cultural </li></ul><ul><li>Social </li></ul><ul><li>Personal </li></ul><ul><li>Psychological </li></ul><ul><li>Reference groups </li></ul><ul><ul><li>Membership </li></ul></ul><ul><ul><ul><li>Primary vs. secondary </li></ul></ul></ul><ul><ul><li>Aspirational vs. dissociative </li></ul></ul><ul><li>Family </li></ul><ul><li>Social roles and statuses </li></ul>
  • 8. How and Why Consumers Buy <ul><li>Influence Factors </li></ul><ul><li>Cultural </li></ul><ul><li>Social </li></ul><ul><li>Personal </li></ul><ul><li>Psychological </li></ul><ul><li>Age </li></ul><ul><li>Stage in life cycle </li></ul><ul><li>Occupation </li></ul><ul><li>Economic circumstances </li></ul><ul><li>Lifestyle </li></ul><ul><li>Personality </li></ul><ul><li>Self-concept </li></ul>
  • 9. How and Why Consumers Buy <ul><li>Actualizers </li></ul><ul><li>Fulfilleds </li></ul><ul><li>Achievers </li></ul><ul><li>Experiencers </li></ul><ul><li>Believers </li></ul><ul><li>Strivers </li></ul><ul><li>Makers </li></ul><ul><li>Strugglers </li></ul>VALS 2 classifies U.S. adults into eight psychographic groups
  • 10. How and Why Consumers Buy <ul><li>Influence Factors </li></ul><ul><li>Cultural </li></ul><ul><li>Social </li></ul><ul><li>Personal </li></ul><ul><li>Psychological </li></ul><ul><li>Motivation </li></ul><ul><li>Perception </li></ul><ul><li>Learning </li></ul><ul><li>Beliefs </li></ul><ul><li>Attitudes </li></ul>
  • 11. Consumer Buying Decision Process <ul><li>In addition to understanding how these factors influence consumers, marketers must identify and understand: </li></ul><ul><ul><li>Who makes the buying decision </li></ul></ul><ul><ul><li>The types of buying decisions </li></ul></ul><ul><ul><li>The stages in the buying process </li></ul></ul>
  • 12. Consumer Buying Decision Process <ul><li>Understand </li></ul><ul><li>Buying roles </li></ul><ul><li>Buying behavior </li></ul><ul><li>Buying decision process </li></ul><ul><li>Initiator </li></ul><ul><li>Influencer </li></ul><ul><li>Decider </li></ul><ul><li>Buyer </li></ul><ul><li>User </li></ul>
  • 13. Consumer Buying Decision Process <ul><li>Understand </li></ul><ul><li>Buying roles </li></ul><ul><li>Buying behavior </li></ul><ul><li>Buying decision process </li></ul><ul><li>Complex buying behavior </li></ul><ul><li>Dissonance-reducing buying behavior </li></ul><ul><li>Habitual buying behavior </li></ul><ul><li>Variety-seeking buying behavior </li></ul>
  • 14. Consumer Buying Decision Process <ul><li>Understand </li></ul><ul><li>Buying roles </li></ul><ul><li>Buying behavior </li></ul><ul><li>Buying decision process </li></ul><ul><li>Problem recognition </li></ul><ul><li>Information search </li></ul><ul><li>Evaluation of alternatives </li></ul><ul><li>Purchase decision </li></ul><ul><li>Postpurchase behavior </li></ul>
  • 15. Consumer Buying Decision Process <ul><li>Postpurchase Behavior: </li></ul><ul><ul><li>Consumers’ expectations are compared to performance </li></ul></ul><ul><ul><li>Postpurchase satisfaction influences future behavior </li></ul></ul><ul><ul><ul><li>Purchasing behavior </li></ul></ul></ul><ul><ul><ul><li>Word-of-mouth communications </li></ul></ul></ul>
  • 16. Consumer Buying Decision Process <ul><li>Marketers should attempt to influence and monitor postpurchase behavior </li></ul><ul><ul><li>Postpurchase communications reduce dissonance, returns, and order cancellations </li></ul></ul><ul><ul><li>Talk with customers to discover new uses for existing products </li></ul></ul><ul><ul><li>Investigate methods of product disposal </li></ul></ul>
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