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CONSUMER BEHAVIOR

CONSUMER BEHAVIOR. MBA 671. Dr. S. Borna. Chapter 7. Analyzing Consumer Markets and Buying (sic!)Behavior. Lecture Outline. 1. Some basic terms related to the consumer behavior. 2. Why study consumer behavior? 3. A model of consumer behavior.

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CONSUMER BEHAVIOR

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  1. CONSUMER BEHAVIOR MBA 671 Dr. S. Borna

  2. Chapter 7 Analyzing Consumer Markets and Buying (sic!)Behavior

  3. Lecture Outline 1. Some basic terms related to the consumer behavior. 2. Why study consumer behavior? 3. A model of consumer behavior.

  4. Lecture Outline Cont. • 4. Three building blocks of • C.B. Model: • a. Exogenous Variables • b. Individual Variables • c. Consumer Decision • Process

  5. Marketer asks the following questions: 1. Who is our market? 2. What does the market buy or want? 3. Why does the market buy certain products?

  6. Questions Cont. 4. Who participates in the buying? 5. When does the market buy? 6. Where does the market buy (outlet questions)?

  7. Consumer Behavior Defined: A. Those acts of individuals (or decision units) directly involved in obtaining and using economic good and services including the decision process that precede and determine these acts.

  8. Two key assumptions and their ramifications 1. Consumer behavior can be understood through research. 2. Consumer behavior can be influenced.

  9. A diagram of the Black-Box approach to infer about intervening variables observable stimuli Process Observable Responses Black Box (outputs) (inputs) inference

  10. Three Main Building Blocks of Our Consumer Behavior Model 1. Exogenous variables affecting consumer behavior. 2. Individual variables affecting consumer variables. 3. Consumer decision process.

  11. Exogenous Variables Culture Sub-culture Social Class Reference Groups Family

  12. Culture Defined “A culture is the configuration of learned behavior and the results of behavior whose component elements are shared and transmitted by the members of a particular society.”

  13. Cultural Values Value General Relevant to Feature Marketing Achievement Hard work is good Justification for Success Success follow acquisition of hard work goods Individualism Self-Reliance Customized Products Freedom Freedom of choice Differentiate P.

  14. Cultural Values Value General Relevant to Feature Marketing Youthfulnes A State of mind Product that that stresses being provide the young illusion of being young Progress The acceptance Stimulate of change desire for new products

  15. Values of Society Religious Institutions family • Schools Individual Internalized Values Media

  16. Sub-Culture(micro-culture) A sub-culture is a segment of a culture that share distinguishing patterns of behavior.

  17. Sub-Culture Technically, the term “sub-culture” should be applied only to groups that include both sexes of all ages and have institutions paralleling those of the dominant society.

  18. Social Class • A number of people who have approximately equal positions in a society.

  19. Reference Group Defined • A group that serves as a frame of reference or comparison for an individual making a consumption decision.

  20. Types of Families • Nuclear Family • Family of Orientation • Family of Procreation • Extended Family

  21. Family Roles 1. gather information 2. influences 3. decision maker 4. purchaser 5. consumer

  22. young singles young married full nest I, II, III post parent-hood dissolution joint decisions Family Life Cycles

  23. Limitations of FLC • Unmarried Couples. • Mature individuals who marry late in life. • Childless Families • Families broken up by separation

  24. Consumer Decision Process problem identification search for information alternative evaluation decision (purchase) retail outlet decisions post-purchase evaluation

  25. Problem Recognition • A significant difference between ideal state of affairs and actual state of affairs.

  26. Information Search INTERNAL MARKET ER CONTROLLED NON-MARKET ER SOURCE OF INFORMATION EXTERNAL

  27. COST VS. BENEFITS OF INFORMATION DECISION DELAY OPPORTUNITY COST INFORMATION OVERLOAD PSYCHOLOGICAL COST costs

  28. FACTORS INFLUENCING EXTERNAL SEARCH A. NO. OF ALTERNATIVES B. STORE CONCENTRATION C. INFORMATION AVAILABILITY

  29. FACTORS INFLUENCING EXTERNAL SEARCH PRODUCT CHARACTERISTICS • PRICE • PRODUCT DIFFERENTIATION • POSITIVE PRODUCT CONT.

  30. CONSUMER CHARACTERISTICS PERCEIVED RISK AGE, SEX, SOCIAL STATUS

  31. ALTERNATIVE EVALUATION 1. HOW TO IDENTIFY EVALUATIVE CRITERIA 2. HOW TO MEASURE EVALUATIVE CRITERIA

  32. Alternative Evaluation cont. 3. CONSUMERS’ PERCEPTION OF PERFORMANCE LEVEL OF EACH EVALUATIVE CRITERIA 4. IMPORTANCE ATTACHED TO EACH EVALUATIVE CRITERIA

  33. ALTERNATIVE EVALUATION (CONTINUED) 5. DECISION RULES USED BY CONSUMERS IN SELECTING DIFFERENT ALTERNATIVES

  34. DECISION RULES USED IN ARRIVING AT A DECISION A. COMPENSATORY MODELS

  35. B. NON-COMPENSATORY • MODELS: • CONJUNCTIVE • DISJUNCTIVE • LEXICOGRAPHIC

  36. Perception Defined: • Perception is the process by which a person selects, organizes, and interprets information.

  37. Selective nature of perception selective exposure selective attention selective comprehension selective retention

  38. Subliminal Advertising: What is the controversy about by: S.C. Dudley, Akron Business and Economic Review. (Summer 1987) pp. 6-18.

  39. Subliminal Perception • Subliminal perception refers to the individuals ability to perceive and respond to stimuli that are below the “limen” or level of consciousness. awareness threshold (supraliminal) subliminal absolute threshold

  40. Methods • Briefly presenting visual stimuli (utilizing a tachistoscope) • Accelerating Speech ( low volume auditory messages)

  41. Methods cont. • Embedding (print Media) • Suggestive methods (picture • implies much more than a quick glance would indicate)

  42. Motivation • A motive (or drive) is a need that is sufficiently pressing to compel the person to act.

  43. Self- actualization (self-development and realization) 5 Esteem needs (self-esteem, recognition) 4 Social needs (sense of belonging, love) 3 Safety needs (security, protection) 2 Psychological needs (food, water, shelter) 1 Maslow’s Hierarchy of Needs

  44. Attitude Defined: An attitude is an enduring organization of motivational, emotional, perceptual, and cognitive process with respect to some aspect of our environment.

  45. Tri- component model of attribute Cognition Affect Conation Conation - Likelihood or tendency to act.

  46. Attitude Change Strategies 1. Changing the cognitive component. 2. Changing the affective component. 3. Changing the behavioral component

  47. Learning Any change in the content and organization of long-term memory. Learning Theories: Classical Conditioning Operant Conditioning Cognitive Theories

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