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CHAPTER 3

CHAPTER 3. CONSUMER BEHAVIOR. Consumer Decision Making. Extensive Decision Making: Highly complex and expensive products, such as car, house. Limited Decision Making: Moderate time spend for purchasing, such as shirts, shoes. Routine Decision Making

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CHAPTER 3

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  1. CHAPTER 3 CONSUMER BEHAVIOR

  2. Consumer Decision Making • Extensive Decision Making: • Highly complex and expensive products, such as car, house. • Limited Decision Making: • Moderate time spend for purchasing, such as shirts, shoes. • Routine Decision Making • Simple and inexpensive products, such as candy bars, soft drinks.

  3. Consumer Decision Making Process • Problem recognition • Information search: (1) written sources (2) Personal Sources (3)Electronic sources • Evaluation of alternatives: Product test • Purchase Decision • Post Purchase Behaviors: • Cognitive Dissonance

  4. Need Recognition • Psychological Factors: Maslow’s Hierarchy of Needs • Physiological • Safety • Love • Esteem • Self-actualization

  5. Alternative Search • Internal sources • store information • Group sources • family, friend, neighbors • Marketing sources • advertising, dealers, sales person, displays • Public sources • consumer report • Personal Experience

  6. Evaluation of Alternatives • Information about number of brands • Evoked set of alternatives • Evaluations of Attributes • Color,quality, size • Consumers’ perception of attributes • Greatest number of desired attributes that the consumer likes the best • Selection the brand consumer likes the best

  7. Purchase Decision • Perceived Risk • Consumers reduce risk in their decision by reducing uncertainty • They purchase small quantity • Seek additional information

  8. Post Purchase Behaviors • Cognitive Dissonance • Dissatisfaction with the purchase • If selected brand does not promise the expected performance • If unselected brand becomes more favorable or exceed the expectations • If expected risk of purchase becomes higher • Reducing the Dissonance • Full support by the manufacturer • Advertising the product as a best buy • Sending a congratulation letter • Establishing consumer satisfaction unit

  9. Factors Influencing Purchasing Decision • Economic Factors: Income, price • Age and life cycle • Geography: Regional factors • Social class • Culture and subculture • Peer pressure: Membership group, Aspiration group, family • Life style: VALS2

  10. VALS 2 Principle

  11. Situational Influences • Physical surroundings • Lighting, music • Social surroundings • Additional depth of a situation • Temporal Perspectives • Time since last purchase • Task Definition • Personal use or gift • Antecedent States-cash/credit card payment

  12. Factors Influencing Purchasing Decision (Cont.) • Diffusion of Innovation (1) Innovator (2.5%) (2) Early Adopters (13.5%) (3) Early Majority (34%) (4) Late Majority (34%) (5) Laggards (16%)

  13. Adoption of Innovation

  14. Usage and Loyalty • Usage status-experience of consumer(non-users, former users, potential users, first-time users, regular users) • Loyalty status: Hard-core, soft-core, switchers • Customer franchise: Long experience with the product/brand-Coca Cola

  15. Consumers in Turkey

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