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3. CHAPTER. Consumer Decision Making. The Importance of Understanding Consumer Behavior. LO 1. Explain why marketing managers should understand consumer behavior. “Ultimate” consumers who buy goods and services for their own personal or household use. The Consumer Market.
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3 CHAPTER Consumer Decision Making
The Importance of UnderstandingConsumer Behavior LO1 Explain why marketing managers should understand consumer behavior
“Ultimate” consumers who buy goods and services for their own personal or household use. The ConsumerMarket
Needs vs. Wants(Typical Textbook Def.) • Needs • Unsatisfactory conditions of the consumer that lead him or her to actions that will make the conditions better • Wants • Desires to obtain more satisfaction than is absolutely necessary to improve unsatisfactory conditions
ConsumerBehavior Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and the product use. Consumer Behavior LO1
consumers make purchase decisions Consumer behavior = HOW consumers use anddispose of product REVIEW LEARNING OUTCOME LO1 Understanding Consumer Behavior
The Consumer Decision-Making Process LO2 Analyze the components of the consumer decision-making process
A five-step process used by consumers when buying goods or services. Consumer Decision-Making Process ConsumerDecision-MakingProcess LO2
Need Recognition Information Search Cultural, Social, Individual and Psychological Factors affect all steps Evaluation of Alternatives Purchase Postpurchase Behavior Consumer Decision-Making Process LO2
Result of an imbalance between actual and desired states. Need Recognition Need Recognition LO2
Internal Stimuli Preferred State Present Status External Stimuli Marketing helps consumers recognize an imbalance between present status and preferred state. Need Recognition LO2
Any unit of input affecting one or more of the five senses: • sight • smell • taste • touch • hearing Stimulus Stimulus LO2
When a current product isn’t performing properly When the consumer is running out of a product When another product seems superior to the one currently used Recognition of Unfulfilled Wants LO2
Information Search Internal Information Search • Recall information in memory External Information search • Seek information in outside environment • Nonmarketing controlled • Marketing controlled LO2
EVOKED SET: Group of brands that come to mind around time of purchase CONSIDERATION SET: Group of brands a consumer will consider buying after search is complete Car Tire Brands? Typically 3-5 Brands in Consideration Set STAGE 2 – INFORMATION SEARCHIS INFLUENCED BY:
Group of brands, resulting from an information search, from which a buyer can choose Evoked Set Evoked Set LO2
Evoked Set Analyze product attributes Use cutoff criteria Rank attributes by importance Purchase! Evaluation of Alternativesand Purchase LO2
To buy or not to buy... Marketing Determines which attributes are most important in influencing a consumer’s choice Purchase LO2
Cognitive Dissonance CognitiveDissonance Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions. LO3
Postpurchase Behavior Marketing can minimize through: Effective Communication Follow-up GuaranteesWarranties LO3 Consumers can reduce dissonance by: • Seeking information that reinforces positive ideas about the purchase • Avoiding information that contradicts the purchase decision • Revoking the original decision by returning the product
Cultural Influences on Consumer Buying Decisions LO4 Identify and understand the cultural factors that affect consumer buying decisions
Cultural Factors Social Factors CONSUMERDECISION- MAKING PROCESS BUY / DON’T BUY Psycho-logical Factors Individual Factors Factors Influencing Buying Decisions LO4
Set of values, norms, attitudes, and other meaningful symbols that shape human behavior and the artifacts, or products, of that behavior as they are transmitted from one generation to the next. Culture Culture LO4
Values Language Myths Customs Rituals Laws Material artifacts Components of Culture LO4
Pervasive Functional Learned Dynamic Culture is. . . LO4
Value Enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct. Value LO4
Success Materialism Freedom Progress Youth http://www.thesource.com Capitalism Online Core American Values LO4
Subculture A homogeneous group of people who share elements of the overall culture as well as unique elements of their own group. http://www.dead.net Online Subculture LO4
A group of people in a society who are considered nearly equal in status or community esteem, who regularly socialize among themselves both formally and informally, and who share behavioral norms. SocialClass Social Class LO4
Occupation Income Education Wealth Other Variables Social Class Measurements LO4
Social Influences on Consumer Buying Decisions LO5 Identify and understand the social factors that affect consumer buying decisions
Social Influences Reference Groups Opinion Leaders Family Members LO5
Reference Group A group in society that influences an individual’s purchasing behavior. LO5 Reference Group
They serve as information sources and influence perceptions. They affect an individual’s aspiration levels. Their norms either constrain or stimulate consumer behavior. Influences of Reference Groups LO5
Opinion Leaders An individual who influences the opinion of others. LO5 Opinion Leaders
Reference Group Impact Example • Social Environment usually much more influential • Opinion Leaders Important • Rich’s runners’ group example...
Family LO5 Purchase Process Roles in the Family • Initiators • Influencers • Decision Makers • Purchasers • Consumers
Individual Influences onConsumer Buying Decisions LO6 Identify and understand the individual factors that affect consumer buying decisions
Gender Age Life Cycle Personality Self-Concept Lifestyle Individual Influences LO6
Psychological Influences onConsumer Buying Decisions LO7 Identify and understand the psychological factors that affect consumer buying decisions
Psychological Influences Perception Motivation Learning Beliefs & Attitudes LO7
Process by which people select, organize, and interpret stimuli into a meaningful and coherent picture. Perception Perception LO7
Selective Exposure Selective Distortion Selective Retention Perception LO7
Selective Exposure Consumer notices certain stimuli and ignores others SelectiveDistortion Consumer changes or distorts information that conflicts with feelings or beliefs Selective Retention Consumer remembers only that information that supports personal beliefs Perception LO7
Marketing Implications of Perception • Important attributes • Price • Brand names • Quality and reliability • Threshold level of perception • Product or repositioning changes • Foreign consumer perception LO7
The “F” Test Count the number of Fs in the following sentence: FINISHED FILES ARE THE RESULT OF YEARS OF SCIENTIFIC STUDY COMBINED WITH THE EXPERIENCE OF MANY YEARS.
Stimulus Discrimination vs. Stimulus Generalization
Interpretation: Meaning consumer attaches to a stimulus • NAMES • Signal Power /Quality (Toro Snow Pup/Master) • Cars: Mustang / Barracuda / Viper • Donkey / Weasel? • NUMBERS • 350 Z / WD-40 / Acura CL? • COLORS • Different for different cultures
Interpretation: Meaning consumer attaches to a stimulus • COLOR • Signal Newness or Quality (Black Label) • Signal Product Contents (Sodas)
A method of classifying human needs and motivations into five categories in ascending order of importance. Motivation Maslow’s Hierarchy of Needs LO7