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Factors that Influence Consumer Behavior

External Influences Culture Socioeconomic level Reference groups Households. Internal Influences Personal needs and motives Experience Personality and self-image Perception and attitude. Factors that Influence Consumer Behavior. Chapter 3.1. Maslow’s Hierarchy of Needs.

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Factors that Influence Consumer Behavior

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  1. External Influences Culture Socioeconomic level Reference groups Households Internal Influences Personal needs and motives Experience Personality and self-image Perception and attitude Factors that Influence Consumer Behavior Chapter 3.1

  2. Maslow’s Hierarchy of Needs • Physiological Needs • Safety Needs • Social and Belonging Needs • Esteem Needs • Self-actualization Needs Chapter 3.2

  3. Chapter 3.3

  4. Consumer Discretionary Purchasing over a Lifespan • Possession Experiences – less than 40 • Catered Experiences – ages 40 to 60 • Being Experiences – ages 60 to 80+ Chapter 3.4

  5. Consumer Adoption Process • Innovators – 2.5% • Early Adopters – 13.5% • Early Majority – 34.0% • Late Majority – 34.0% • Laggards – 16.0% Chapter 3.5

  6. Consumer Decision-Making Model • Problem recognition • Information search • Evaluation of alternatives • Purchase decision • Post purchase evaluation Chapter 3.6

  7. Compensatory Consumers use a product’s strengths in one or more areas to compensate for deficiencies in other areas Noncompensatory Conjunctive: exceed minimums on all attributes Disjunctive: exceed minimum on at least one attribute Lexicographic: prioritize and consider one attribute at a time Consumer Problem-Solving Processes Chapter 3.7

  8. Consumer Problem-Solving Techniques • Routine Response Behavior – habitual response with little search or evaluation • Limited Problem Solving – some search and evaluation • Extended Problem Solving – extensive search and evaluation Chapter 3.8

  9. Characteristics of Organizational Buying • Larger volume purchases • Derived demand • More emphasis on specifications and service • Professional buyers and more negotiation • Repeat business • Multiple buyers Chapter 3.9

  10. Members of an Organizational Buying Unit • Users – people that actually use the product • Influencers – people with expertise who may help determine specifications • Buyers – people who make purchase • Deciders – people with the authority to select or approve a supplier • Gatekeepers – people who control the flow of information Chapter 3.10

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