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Marketing Management Consumer Behavior I

Marketing Management Consumer Behavior I. Paul Dishman , Ph.D. Department of Business Management Marriott School of Management Brigham Young University Lecture 7. The Nature of Consumer Behavior.

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Marketing Management Consumer Behavior I

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  1. Marketing ManagementConsumer Behavior I Paul Dishman, Ph.D. Department of Business Management Marriott School of Management Brigham Young University Lecture 7

  2. The Nature of Consumer Behavior There is only one boss--the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else. --Sam Walton Listen to the whispers and you won’t have to hear the screams. --Cherokee saying

  3. $ Environmental Stimuli Individual Characteristics & Decision Processes Response Marketing Stimuli “Blackbox” model of CB

  4. How do consumers make decisions? • Economic Man Theory • Hedonistic Man Theory • Pavlovian Theory

  5. Purchase Behavior

  6. Stages in Buying Behavior • Awarenessneed recognition • Interestinformation search • Evaluationevaluation of alternatives • Trialpurchase decision • Adoptionpostpurchase behavior

  7. Psychological Factors • Perceptions: biases and blind spots • Beliefs, attitudes, and learning • Motivation

  8. Motivation: Maslow Self-Actualization Esteem Social Safety Physiological

  9. Abundant Resources Psychographics:VALS 2 Actualizers Status Oriented Action Oriented Principle Oriented Fulfilleds Achievers Experiencers Believers Strivers Makers Minimal Resources Strugglers

  10. Early Majority Laggards Innovators 34% 34% 13.5 % 16% 2.5 % Early Adopters Late Majority Time of Adoption of Innovations

  11. Important Attributes in Buying • Convenience • (most important attribute to a consumer?) • Price • Dependability • quality of product • Investment

  12. Simple Model Buyer Characteristics Marketing Stimuli Buyer Response Buying Decision Other Stimuli

  13. Exercise • Take out a piece of paper • Please answer the following questions

  14. #1 • Are you the person responsible for purchasing laundry detergent in your household? Yes No

  15. #2 • If YES to above, list the name of a laundry detergent that you purchase on a regular basis • If NO to above, what is the name of the first laundry detergent brand that comes to mind?

  16. #3 • If YES to #1, list the reason(s) that you purchase this brand • If NO to #1, list the reason(s) that you think the brand you thought of is so popular

  17. #4 • What other brands of laundry detergent might you consider purchasing, and why?

  18. #5 • In your opinion, what is the most important feature for a laundry detergent?

  19. Exercise: Create Model

  20. Price Why would this be important to ? Availability Purchase Priority Evoked Set of Brands Purchase Decision Decision Type Family or Surrogate Influence Salient Features/ Benefits Possible CB Model How could they use this information?

  21. Importance of UnderstandingBuyer Behavior • Construct model to help understand your buyers’ decision process • Find influences and influencers • Determine influential methods • leverage costs by maximum effectiveness • Determine reinforcement points • Evaluate

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