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Understanding Consumer Behavior: Motivations Behind Purchases

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This guide explores the factors influencing consumer purchasing habits, distinguishing between consumers and customers. It highlights the role of gatekeepers, particularly in families, and the significance of needs versus wants. Marketers face the challenge of appealing to both. Additionally, it discusses changes in consumer demand influenced by economic factors and trends, providing insight into how marketers can adapt. Consideration of the value equation and its impact on purchasing decisions is crucial for understanding modern consumer behavior.

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Understanding Consumer Behavior: Motivations Behind Purchases

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Presentation Transcript

  1. The Consumer BMI3C

  2. Why we buy… • What motivates you to buy consumer goods and service? • Make a list of the factors that influence your buying habits

  3. Some Key Terms • A consumer is a person who USES a product • A customer is a person who BUYS a product

  4. Gatekeepers • If the consumer is a child, a parent/guardian, called a gatekeeper, is the person who buys the product for the child • The challenge for marketers of these products is to appeal to both the gatekeeper and the consumer • Examples?

  5. Needs and Wants • Needs are items that are necessary for survival • Wants are extras that add pleasure and comfort to our lives

  6. Changes in Consumer Demand • Marketers must consider and analyze consumer demand • The value equation is an essential component of the consumer demand • Consumer demand is constantly changing based on the economic shifts in a country, city, or region, as well as changes in consumer preference (based on trends and fads)

  7. Questions • Select 10 products you have in your home, and for each, suggest the needs/wants they satisfy • How are your needs/wants affected depending on where you live in the world? • What factors affect consumer demand?

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