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Analyzing Consumer Behavior

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  1. Analyzing Consumer Behavior www.assignmentpoint.com

  2. Chapter Questions • How do consumer characteristics influence buying behavior? • What major psychological processes influence consumer responses to the marketing program? • How do consumers make purchasing decisions? • How do marketers analyze consumer decision making? www.assignmentpoint.com

  3. What Influences Consumer Behavior? • Cultural factors • Social factors • Personal factors www.assignmentpoint.com

  4. Culture The fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions. www.assignmentpoint.com

  5. Subcultures • Nationalities • Religions • Racial groups • Geographic regions • Special interests www.assignmentpoint.com

  6. Fast Fact About American Culture • The average American • chews 300 sticks of gum a year • goes to the movies 9 times a year • takes 4 trips per year • attends a sporting event 7 times each year www.assignmentpoint.com

  7. Social Classes Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers www.assignmentpoint.com

  8. Characteristics of Social Classes • Within a class, people tend to behave alike. • Social class conveys perceptions of inferior or superior position. • Class may be indicated by a cluster of variables (occupation, income, wealth). • Class designation is mobile over time. www.assignmentpoint.com

  9. Social Factors Reference groups Family Social roles Statuses www.assignmentpoint.com

  10. Reference Groups • Membership • Primary • Secondary • Aspirational • Dissociative www.assignmentpoint.com

  11. Family • Family of Orientation • Religion • Politics • Economics • Family of Procreation • Everyday buying behavior www.assignmentpoint.com

  12. Age Life cycle stage Occupation Wealth Personality Values Lifestyle Self-concept Personal Factors www.assignmentpoint.com

  13. Brand Personality • Sincerity • Excitement • Competence • Sophistication • Ruggedness www.assignmentpoint.com

  14. Key Psychological Processes • Motivation • Perception • Learning • Memory www.assignmentpoint.com

  15. Motivation • Freud’s theory • Maslow’s hierarchy of needs • Herzberg’s two-factor theory www.assignmentpoint.com

  16. Perception • Selective attention • Selective retention • Selective distortion • Subliminal perception www.assignmentpoint.com

  17. Figure 6.4 Consumer Buying Process • Problem recognition • Information search • Evaluation • Purchase decision • Post purchase behavior www.assignmentpoint.com

  18. Sources of Information • Personal • Commercial • Public • Experiential www.assignmentpoint.com

  19. Non-compensatory Models of Choice • Conjunctive • Lexicographic • Elimination-by-aspects www.assignmentpoint.com

  20. Functional Physical Financial Social Psychological Time Perceived Risk www.assignmentpoint.com

  21. Involvement Elaboration Likelihood Model Low-involvement marketing strategies Variety-seeking buying behavior Decision Heuristics Availability Representativeness Anchoring and adjustment Other Theories of Consumer Decision Making www.assignmentpoint.com

  22. Mental Accounting • Consumers tend to… • Segregate gains • Integrate losses • Integrate smaller losses with larger gains • Segregate small gains from large losses www.assignmentpoint.com

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