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Understanding Consumer Behavior Models

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5 views22 pages

Understanding Consumer Behavior Models

Uploaded by

asamuakasaki
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

CHAPTER FIVE:

CONSUMER MARKETS AND BUYER BEHAVIOR


CHAPTER OBJECTIVES
• Model of consumer behavior

• Characteristics affecting consumer behavior

• Buying decision behavior and the buyer decision process

• The buyer decision process for new products


MODEL OF CONSUMER BEHAVIOR
The Environment Buyer’s black box Buyer Response
Marketing Stimuli Other Buyer’s characteristics  Buying attitude and preferences
 Product  Cultural Buyer’s decision  Purchase behavior;
 Price  Social process  What/when/where/how much
 Promotion  Personal  Brand engagement and
 Place  Psychological relationships
THE ENVIRONMENT

Cultural
 Culture
 Subculture
 Social Class

 Every group/society has a different culture


 Marketers always try to spot cultural shifts
THE ENVIRONMENT
Social
 Group & Social
network
 Family
 Role & Status
THE ENVIRONMENT
Personal
 Age & life-cycle stage
 Occupation
 Economic situation
 Lifestyle(AIO)
 Personality & self-
concept
THE ENVIRONMENT
Psychological
 Motivation
 Perception
 Learning
 Beliefs & attitudes

“One man with a conviction will overwhelm a hundred who have only opinions.”
Winston Churchill
THE ENVIRONMENT
Cultural Social Personal Psychological
 Group & Social  Age & life-cycle  Motivation
 Culture
network stage
 Subculture  Perception
 Family  Occupation
 Economic  Learning
 Social Class
 Role & Status
Buyer
situation  Beliefs &
 Lifestyle attitudes
 Personality &
self-concept
TYPES OF BUYING DECISION
BEHAVIOR
Complex Buying Behavior
 Dissonance reducing buying behavior
 Habitual buying behavior
 Variety-seeking buying behavior
THE BUYER DECISION PROCESS
THE BUYER DECISION PROCESS
Need Recognition
 What is the pain point
 What triggers?
 Actual incidents
 Advertisements/communications
 Peer group pressure
 What marketers should do?
 Analyze touch point
 How triggers lead to a particular product?
THE BUYER DECISION PROCESS
Information search
 From where
 Personal sources
 Commercial sources
 Public sources
 Experiential sources
 What marketers should do?
 Ensure relevant info touch point
 Keep eye on the customer generated reviews
 Know the potential sources of info
THE BUYER DECISION PROCESS
Evaluation of alternatives
 Categories or areas of alternatives
 Products/service
 Mode of acquisition/delivery
 Influencers
 Financial ability
 Amount of info s/he has
 Perceived risk against a wrong decision
 Personal likings vs logic

 What marketers should do?


 Keep eye on the factor that consumers value most
THE BUYER DECISION PROCESS
Purchase decision
 May be affected by
 Attitudes of others
 Unexpected situational factors

 What marketers should do?


 Simplify the purchase process
 Make the actual process gratifying
THE BUYER DECISION PROCESS
Post purchase behavior
 Post purchase cognitive dissonance
 The tension after purchasing
 Usually seen after purchasing high value item
 Triggered due to disturbing information after purchase

 What marketers should do?


 Communication emphasizing the positives
 Personalized communication/follow up calls in case of big-ticket items
 WoM
ADOPTION PROCESS FOR NEW PRODUCT
 Awareness

 Interest
 Evaluation

 Trial
 Adoption
INDIVIDUAL DIFFERENCES IN
INNOVATION Su
sp
epti cal ch iciou
sk an
ge s of
s

p in ion
O rs
a d e
le

venturesome
CRITERIA FOR ADOPTION
Ideas that spread, win
 Not all early adopters are sneezers
 How smooth & easy is it to spread your idea

 How often will people sneeze it to their friends?


 Do they talk much? Do they believe each other?
CRITERIA FOR ADOPTION
 Relative Advantage

 Compatibility
 Complexity

 Divisibility
 Communicability
END OF CHAPTER
FIVE

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