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CONSUMER BEHAVIOR
Consumer behavior is the study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. It provides clues for improving or introducing products or services, setting prices, devising channels, crafting messages, and developing other marketing activities.
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QUESTION 1
Explain how consumer characteristics influence buying behavior.
Cultural Factors. Culture is the fundamental determinant of a persons wants and behavior. Social Factors. Reference groups;- groups that have influence on consumers attitudes or behavior. Family;- the most influential primary reference groups. Roles and statutes;Role activities a person is expected to perform. Enteryour title here Status in society, eg, a senior vice president has more status than a sales manager. Personal Factors. Age, stage in the life-cycle; occupation and economic circumstances;personality and self-concept; life style and values
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Psychological Processes
Four main psychological processes affect consumer behavior: motivation, perception, learning, and memory.
MOTIVATION A need that is sufficiently pressing to drive the person to act .
PERCEPTION A process by which individual selects, organizes, and interprets information inputs to create a meaningfull picture of the world. MEMORY
Information and experiences individual encounter as they go through life can end up in their long-term memory.
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Marketing Stimuli
Consumer Psychology
Other Stimuli
Consumer Characteristic
Buying Decision
Purchase Decision
Purchase Decision- Product choice.Brand choice.Dealer choice. Purchase amount.Purchase timing.Payment method.
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QUESTION 2
Discuss how consumers make purchasing decisions
Buying Decision Process Problem recognition Buyer recognise need. Information search Buyer search for information. Evaluate alternatives Buyer make value judgement. Purchase decision Form preference and intention to buy. Post-purchase behavior After purchase,buyer will be alert to information that supports decision.
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Variety-seeking buying behavior Brand switching. Decision heuristics and biases Rules of thumb or mental short cuts in decision process. Mental accounting Manner by which consumers code,categorize,and evaluate financial outcomes of choices.
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THANK YOU.
The best thing about the future is that it comes only one day at a time.
Abraham Lincoln (1809-1865)
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