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MARKETING MANAGEMENT 12 th edition

MARKETING MANAGEMENT 12 th edition. 6 Analyzing Consumer Markets. Kotler Keller. Chapter Questions. How do consumer characteristics influence buying behavior? What major psychological processes influence consumer responses to the marketing program?

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MARKETING MANAGEMENT 12 th edition

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  1. MARKETING MANAGEMENT12th edition 6 Analyzing Consumer Markets Kotler Keller

  2. Chapter Questions • How do consumer characteristics influence buying behavior? • What major psychological processes influence consumer responses to the marketing program? • How do consumers make purchasing decisions? • How do marketers analyze consumer decision making?

  3. Emerging Trends in Consumer Behavior Metrosexual – Straight urban man who enjoys shopping and using grooming products

  4. What Influences Consumer Behavior? Cultural Factors Social Factors Personal Factors

  5. Culture The fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions

  6. Subcultures Nationalities Religions Racial groups Geographic regions Special interests

  7. Insight into the subculture of wine enthusiasts

  8. Fast Facts About American Culture • The average American: • chews 300 sticks of gum a year • goes to the movies 9 times a year • takes 4 trips per year • attends a sporting event 7 times each year

  9. Social Classes Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers

  10. Characteristics of Social Classes • Within a class, people tend to behave alike • Social class conveys perceptions of inferior or superior position • Class may be indicated by a cluster of variables (occupation, income, wealth) • Class designation is mobile over time

  11. Social Factors Reference groups Family Social roles Statuses

  12. Reference Groups Membership groups Primary groups Secondary groups Aspirational groups Dissociative groups

  13. Family of Orientation Religion Politics Economics Family of Procreation Everyday buying behavior Family

  14. Targeting Women and Their Families

  15. Roles and Statuses What degree of status is associated with various occupational roles?

  16. Personal Factors Age Self- concept Life cycle stage Occupation Lifestyle Wealth Values Personality

  17. Behavior changes • according to life cycle stage • Family • Psychological • Critical life events

  18. Brand Personality Sincerity Excitement Competence Sophistication Ruggedness

  19. Lifestyle Influences Multi-tasking Time-starved Money-constrained

  20. Figure 6.1 Model of Consumer Behavior

  21. Key Psychological Processes Motivation Perception Learning Memory

  22. Motivation Freud’s Theory Behavior is guided by subconscious motivations Maslow’s Hierarchy of Needs Behavior is driven by lowest, unmet need Herzberg’s Two-Factor Theory Behavior is guided by motivating and hygiene factors

  23. Maslow’s Hierarchy of Needs

  24. Herzberg’s Two-Factor Theory

  25. Perception Selective Attention Selective Retention Selective Distortion Subliminal Perception

  26. Figure 6.3 Dole Mental Map

  27. Encoding Brand Associations

  28. Figure 6.4 Consumer Buying Process Problem Recognition Information Search Evaluation Purchase Decision Postpurchase Behavior

  29. Problem Recognition

  30. Sources of Information Personal Commercial Public Experiential

  31. Figure 6.5 Successive Sets

  32. Evaluation of AttributesTable 6.3

  33. Figure 6.6 Stages between Evaluation of Alternatives and Purchase

  34. Non-compensatory Models of Choice • Conjunctive • Lexicographic • Elimination-by-aspects

  35. Perceived Risk Functional Physical Financial Social Psychological Time

  36. Figure 6.7 How Customers Use and Dispose of Products

  37. Involvement Elaboration Likelihood Model Low-involvement marketing strategies Variety-seeking buying behavior Decision Heuristics Availability Representativeness Anchoring and adjustment Other Theories of Consumer Decision Making

  38. Mental Accounting • Consumers tend to… • Segregate gains • Integrate losses • Integrate smaller losses with larger gains • Segregate small gains from large losses

  39. Marketing Debate • Is Target Marketing Ever Bad? Take a position: • Targeting minorities is exploitative. 2. Targeting minorities is a sound business practice.

  40. Marketing Discussion • What are your mental accounts? Do you have rules you employ in spending money? Do you follow Thaler’s four principles in reacting to gains and losses?

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