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Consumer Behavior

Consumer Behavior. Problem recognition: Perceiving need. Information search: Seeking value. Alternative evaluation: Assessing value. Purchase decision: Buying value. Post-purchase behavior: Consumption value. Consumer Buying Process. Psychological states. ideal. actual.

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Consumer Behavior

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  1. Consumer Behavior

  2. Problem recognition: Perceiving need Information search:Seeking value Alternative evaluation: Assessing value Purchase decision: Buying value Post-purchase behavior: Consumption value Consumer Buying Process

  3. Psychological states ideal actual Opportunity Recognition ideal actual Need Recognition How is the Need/Want Created?

  4. Information Search: Identifying Alternatives Inert Set ? x  Inept Set Evoked/Consideration Set

  5. Panasonic SL-SX500 $ 150 Phillips AZ7383 100 Phillips AZ7583 120 Sony D-E409CK 140 Aiwa XP-SP1200 145 Very Good Sony D-E401 100 Panasonic SL-SW505 150 Good JVC XL-P34 80 Fair Sony D-ES55 200 Panasonic SL-S230 80 Poor Aiwa XP-570 75 Compensatory andNon-compensatory Decision Making Error Locate Brand Model Price Headphones Correction Bumps Speed Rating: Excellent (A CR best buy) Portable Compact Disc Players Source: Consumer Reports’

  6. is a feeling of post-purchase psychological tension or anxiety. To alleviate cognitive dissonance, consumers often: seek confirming information avoid disconfirming information Cognitive Dissonance…

  7. High Involvement purchase decisions typically involve extensive information search, consideration of several product attributes and brands, the formation of attitudes, and word-of-mouth communication. (e.g., automobile, stereo system) • Perceived Risk is the anxiety experienced when • outcomes are unknown, yet one believes that there • may be negative consequences. • monetary • functional • physical • social • psychological Low Involvementpurchase decisions typically involve little information search, and examine brands on the basis of price. They tend to be privately consumed. (e.g., soap, toothpaste)

  8. Influences on the Consumer Purchase Decision Process Marketing mix • Product • Price • Promotion • Place Psychological Sociocultural Consumer Decision Process • Motivation • Personality • Perception • Learning • Values, beliefsand attitude • Lifestyle Problem recognition Information search Alternative evaluation Purchase decision Post-purchase behavior • Personalinfluence • Reference groups • Family • Social class • Culture • Subculture Situation • Purchase task • Social surroundings • Physical surroundings • Temporal effects • Antecedent states

  9. Messages Selective exposure Selective comprehension Selective retention Selective perception filters

  10. Learning refers to those behaviors that result from: repeated experience and/or, thinking Behavioral Learning is the process of developing automatic responses to a situation built up through repeated exposure to it. Cognitive Learning is learning via thinking, reasoning, and mental problem solving without direct experience.

  11. 5 Value Driversof Market Choice Behavior Functional Value Social Value Market Choice Behavior Conditional Value Epistemic Value New ! Emotional Value

  12. Organizational Buying Behavior

  13. Commercial Manufacturers, construction companies, service firms, transport companies, some professional groups, and resellers Institutional Organizations that provide services without the motivation of profit such as hospitals and universities Government The government market consists of federal, provincial/state, and local/municipal governments Types of B2B Customers

  14. Business Market Characteristics Fluctuating: Patterns and preferences in the household market can change the demand for industrial goods Derived: Link between demand for industrial product and demand for consumer products DEMAND Stimulating: Some industrial products must market to the ultimate consumer directly

  15. Business Market Characteristics Longer-term and closer relationships with fewer suppliers Relationship Marketing: Marketing activities directed at establishing/ maintaining relationships BUYER-SELLER RELATIONSHIPS Closer interactions among multiple functions on both buying and selling sides

  16. Business Market Characteristics JIT: Just-in-time production to deliver defect-free parts to production just when needed Supply Chain Management: Linking with strategic suppliers, intermediaries, and customers to improve efficiency SUPPLY CHAIN ERP: Software that can help enhance the flow of a supply chain

  17. Organizational Buying Process Problem Recognition General Description of Need Detailed Description of Product Specs Supplier Search Acquisition and Analysis of Proposals Supplier Selection Selection of an Order Routine Performance Review

  18. Straight Rebuy Buying Situations Modified Rebuy Size of buying centre Risk New Buy increases increases

  19. Gatekeeper Buying Center Roles Users Influencers Buyers Deciders

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