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Consumer Behavior

Consumer Behavior. 10. Lec . 10. Harcourt, Inc. Factors Influencing Consumer Behavior. Marketing and Other Stimuli. Product Price Place Promotion. Economic Technological Political Cultural. Buyer’s Black Box. Model of Consumer Behavior. Characteristics Affecting Consumer Behavior.

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Consumer Behavior

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  1. Consumer Behavior 10 Lec. 10 Harcourt, Inc.

  2. Factors Influencing Consumer Behavior

  3. Marketing and Other Stimuli Product Price Place Promotion Economic Technological Political Cultural Buyer’s Black Box Model of Consumer Behavior Characteristics Affecting Consumer Behavior Buyer’s Decision Process Buyer’s Response Purchase Timing Purchase Amount Product Choice Brand Choice Dealer Choice

  4. Need Recognition Information Search Evaluation of Alternatives Purchase Decision The Buyer Decision Process Postpurchase Behavior

  5. The Buyer Decision ProcessStep 1. Need Recognition Need Recognition Difference between an actualstate and a desiredstate • Internal Stimuli • Hunger • Thirst • A person’s normalneeds • External Stimuli • TV advertising • Magazine ad • Radio slogan • Stimuli in theenvironment

  6. Personal Sources Commercial Sources • Family, friends, neighbors • Most influential source of • information The Buyer Decision ProcessStep 2. Information Search Public Sources • Advertising, salespeople • Receives most information • from these sources Experiential Sources • Mass Media • Consumer-rating groups • Handling the product • Examining the product • Using the product

  7. The Buyer Decision ProcessStep 3. Evaluation of Alternatives Product Attributes Evaluation of Quality, Price, & Features Degree of Importance Which attributes matter most to me? Brand Beliefs What do I believe about each available brand? Total Product Satisfaction Based on what I’m looking for, how satisfied would I be with each product? Evaluation Procedures Choosing a product (and brand) based on one or more attributes.

  8. Purchase Intention • Desire to buy the most preferred brand The Buyer Decision ProcessStep 4. Purchase Decision Unexpected situational factors Attitudes of others • Purchase Decision

  9. The Buyer Decision Process Step 5. Postpurchase Behavior • Consumer’s Expectations of • Product’s Performance • Product’s Perceived • Performance Satisfied Customer! Dissatisfied Customer Cognitive Dissonance

  10. Thanks a lot & see you

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