Consumer Markets and Consumer Buyer Behavior
Model of consumer behavior
Model of Buyer Behavior: The Environment -> Buyer's Black box -> Buyer responses
Characteristics Affecting Consumer behavior
Cultural factors: exert a broad and deep influence on consumer behavior
Most basic wants and behavior of a person. Divided between culture, subculture and social class
Social fact:A consumer’s behavior also is influenced by social factors, such as
the consumer’s small groups, family, and social roles and status
Groups and social Networks influence a person's behavior.
Marketers identify the reference groups of their target markets.
Opinion leader:A person within a reference group who,
because of special skills, knowledge,
personality, or other characteristics, exerts
social influence on other
Buzz marketing involves enlisting or even creating opinion leaders to serve as “brand ambassadors” who spread the word about a company’s products
Online Social Networks: Online communities that marketers are working to harness and promote their products. Additionally creating customer relations
Family: Can strongly influence buyer behavior
Personal Factors:A buyer’s decisions also are influenced by personal characteristic
Age and Life Cycle Stage: People change the goods and services they buy over their lifetimes.
Tastes. sizes, likes and dislikes
Occupation affects what the consumer buys.
Economic Situation will affect his or her store and product choices.
Lifestyle is a person’s pattern of living as expressed in his or her psychographics.
Psychological Factors:A person’s buying choices are further influenced by four major psychological factors:
motivation, perception, learning, and beliefs and attitudes.
Motivation: Is a need that is sufficiently pressing to direct the person to seek satisfaction
Motivation research- Qualitative research
Perception:The process by which people select,
organize, and interpret information to
form a meaningful picture of the world.
Types of buying Decision Behavior
Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands
Dissonance-reducing buying behavior occurs when consumers are highly involved
with an expensive, infrequent, or risky purchase but see little difference among brands.
Habitual buying behavior occurs under conditions of low-consumer involvement and
little significant brand difference.
variety-seeking buying behavior in situations characterized by
low consumer involvement but significant perceived brand differences
The buyer decision process:
Need Recognition:—the buyer recognizes a problem or need.
Information Search
Evaluation of alternatives
Purchase decision
Post purchase behavior
The buyer decision process for new products
Adoption Process
Awareness: The consumer becomes aware of the new product but lacks information about it.
Interest: The consumer seeks information about the new product.
Evaluation: The consumer considers whether trying the new product makes sense.
Trial: The consumer tries the new product on a small scale to improve his or her estimate of its value.
Adoption: The consumer decides to make full and regular use of the new product.