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What’s Happening?

What’s Happening?. Mid-term Exam Marketing groups for term project. Consumer and Business Buyer Behaviour. Chapter 6. Discussion Questions.

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What’s Happening?

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  1. What’s Happening? • Mid-term Exam • Marketing groups for term project

  2. Consumer and Business Buyer Behaviour Chapter 6

  3. Discussion Questions • Think about a specific major purchase you’ve made recently. What buying process did you follow (How did you decide)? What major factors influenced your decision? • Pick a company. Does the company you chose understand its customers and their buying behaviour? Explain.

  4. Less Involvement More Involvement Decision Making: Situations Routine Response Behavior Limited ProblemSolving Extensive Decision Making

  5. Consumer decision-making processes - Exhibit 6-2

  6. Traditional factors affecting consumer purchasing behaviours • Demographics (age, gender, income, etc.) • Heredity and home environment • Family life cycle • Life changing events • Social environment • Situational environment

  7. Information Search – Step 2 Two ways of gathering information: 1. Internally 2. Externally – requires time and effort • Consumers look to reduce risks and uncertainty associated with their purchases • Consumer risks include: performance, financial, physical, social and time.

  8. Evaluation of Alternatives – Step 3 • Choice criteria 1. Evoked set 2. Inept set 3. Inert set • Product/service features • Need/want factors

  9. The Purchase/Buy Decision – Step 4 Decision to purchase a particular product may be based on several factors: • Brands • Price • Need • Quality • Situation • Attitudes of others • Enticements • And many others,…..

  10. Evaluation of product/service performance. Cognitive dissonance. Impacts future purchases. Impacts word-of-mouth communications. Postpurchase Evaluation – Step 5

  11. Discussion/Group Questions • Page 166, question 3 • Page 167, question 14 (group work)

  12. Individual factors that shape the decision-making process • Motivation • Perception • Learning • Attitudes • Personality and Self-Concept

  13. What’s Happening? http://www.webdesignerdepot.com/2009/11/40-seriously-funny-print-ads/ • Term Project Proposal due next class! • http://www.youtube.com/user/BridgestoneSuperBowl?v=EBUcG7xZB-g&feature=pyv&ad=5564215583&kw=2009%20superbowl%20ad#p/c/3EB426E628B08939/4/beF0LTvbdfw • http://www.youtube.com/watch?v=R55e-uHQna0

  14. Business Markets and Organizational Buying Chapter 7

  15. Common Types of Organizational Consumers – Exhibit 7-1

  16. Factors affecting Organizational purchasing behaviours • Product and service quality • Customer related services – examples? • Price and terms of purchase • Delivery and inventory management systems • Collaboration

  17. Low Medium High Minimal Moderate Maximum Newness of Problem or Need Minimal Limited Extensive Information Requirements None Limited Extensive Information Search Very Small Moderate Large Consideration of New Alternatives Low Moderate High Multiple Buying Influence Financial Risks Characteristics of theThree Types of Buying Decisions Straight Rebuy Modified Rebuy New Task

  18. Steps in Organizational Decision Making (Exhibit 7-4) • Identification of a Need • Deciding on Objectives and Specifications • Identification of Suppliers and Evaluation of Alternatives • Selection of Suppliers and Negotiations • Establishing a Valued Customer Relationship How if at all do these steps differ from the consumer decision-making process?

  19. Organizational Buying Center Roles of the Buying Center • Users • Gatekeepers • Influencers • Deciders • Buyers

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