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Marketing Begins with Customers

Marketing Begins with Customers. Chapter 6. Understanding Consumer Behavior. Study of consumers and how they make decisions Final Consumers Buy a product or service for personal use Business Consumers Buys goods and services to produce and market other goods for resale

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Marketing Begins with Customers

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  1. Marketing Begins with Customers Chapter 6

  2. Understanding Consumer Behavior • Study of consumers and how they make decisions • Final Consumers • Buy a product or service for personal use • Business Consumers • Buys goods and services to produce and market other goods for resale • Paper factory buys lumber, water, etc to produce paper and sells to a factory who make a final product

  3. Hierarchy of Needs • Physiological – food, sleep, water, shelter, air • Security – physical safety and economic security • Social – friends, love, belonging • Esteem – respect and recognition • Self-Actualization – to realize your potential

  4. 6.2 – What Motivates Buyers? • Buying motives – reasons that you buy • Emotional motives – based on feelings, beliefs, or attitudes • Rational Motives – reasons to buy based on facts or logic • Patronage Motives – based on loyalty (particular business or brand)

  5. Buying Behavior • The decisions processes and actions of consumers as they buy services and products • Consumer Decision-Making Process • Problem Recognition – need or desire for a product • Information Search – where available, price, alternatives • Evaluation of Alternatives – which is best, which fits the needs, which fits price range • Purchase • Postpurchase Evaluation – satisfaction, dissatisfaction – may choose different next time, may take longer to get through the process

  6. 6.3 Types of Decision Making • Influences on Consumer Decision-Making Process • Personality – individual preferences • Social Class – lifestyle, values, and beliefs that are common to a group of people • Cultural Environment – set of beliefs or attitudes that are passed on from generation to generation • Reference Groups – groups or organizations from which you take your values and attitudes

  7. Types of Decision Making • Routine • Frequent purchases that do not require much thought • Familiar with the product and usually goes with the same brand • Limited Decision-Making • Most of the time a more expensive item that is purchase less frequently, takes more time to decide • Extensive Decision-Making • When purchaser methodically goes through all 5 steps • Decision is not made lightly and much time and effort goes into it

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