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CHAPTER 7

CHAPTER 7. Consumer/Buyer Behavior. WHY INTEREST IN BUYER BEHAVIOR. Why might marketers be interested in the behavior of buyers/consumers? How do consumers go about making buying decisions? View the consumer decision-making process. CONSUMER DECISION-MAKING PROCESS.

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CHAPTER 7

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  1. CHAPTER 7 Consumer/Buyer Behavior

  2. WHY INTEREST IN BUYER BEHAVIOR • Why might marketers be interested in the behavior of buyers/consumers? • How do consumers go about making buying decisions? • View the consumer decision-making process

  3. CONSUMER DECISION-MAKING PROCESS • Routine Response Behavior • Consider the following factors: Cost, Time, Information Search, Frequency of Purchase, Involvement, Familiarity with Products, Amount of Risk, Number of Alternatives, Situation). • Limited Problem Solving • Extended Problem Solving

  4. FACTORS AFFECTING DECISION MAKING • Individual Factors (Demographic, Personality, Self-Concept, Life-Style) • Psychological Factors (Perception, motivation, Learning, Beliefs and Attitudes -- to change attitudes you must first change beliefs) • Social Factors (Reference Group, Opinion Leaders, Family) • Cultural Factors (Values, Sub-culture, Social Class)

  5. Decision-Making Processes • Consumers do not consider all brands when making a decision. An evoked set is the outcome of the search process. • Evoked Set – Group of brands which are the most preferred alternatives. • The evoked set is a subset of all brands the consumer would consider buying.

  6. Decision Making Process • In comparing brands, consumers use objective attributes and subjective factors (e.g. prestige). The factors used when evaluating the various brands is the Evaluative Criteria.

  7. Decision-Making Processes (Cont’d) • Compensatory Decision Making Model – a perceived weakness in one attribute is made-up for by strengths in other attributes. • Non-Compensatory Decision Making Model: Perceived weakness in one attribute cannot be made-up for by strengths in other attributes.

  8. ATTRIBUTE WEIGTHING • Number of Attributes Considered: In making a decision six or fewer generally used by most consumers. • Salient Attributes: Factors deemed to be important when evaluating brands. • Determinant Attribute: Most important factors affecting the decision. Some attributes are seen as being more important than others and are weighted more heavily in the decision.

  9. Choice & Outcomes • Consumers evaluate products in terms of pre-purchase expectations. The outcomes can lead to satisfaction or dis-satisfaction. • Performance deficiency may lead to changes in the product • Expectations deficiency may lead to changes in advertising or education.

  10. Cognitive Dissonance • Dissonance is post-purchase doubt that the product may mot have all of the attributes or may not perform as well as you might have expected. It is a feeling of post-purchase psychological tension that you may not have made the best (right) decision. • Firms need to be concerned with dissonance and provide post-purchase support or dissatisfaction may result.

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