ConsumerMarketsandConsumerBuyerBehaviorChapter55-1LearningGoals1.Learntheconsumermarketandconstructmodelofconsumerbuyerbehavior2.Knowthefourfactorsthatinfluencebuyerbehavior3.Understandthetypesofbuyingdecisionbehaviorandstagesintheprocess4.Comprehendtheadoptionanddiffusionprocessfornewproducts5-2CaseStudyHarleyDavidsonBuildingSuccess•Understandingthecustomers’emotionsandmotivation•Determiningthefactorsofloyalty•TranslatingthisinformationtoeffectiveadvertisingMeasuringSuccess•Currently22%ofallU.S.bikesales•Demandabovesupply•Salesdoubledinthepast5yearswithearningstripled.5-3Definitions•Consumerbuyerbehaviorreferstothebuyingbehavioroffinalconsumers–individualsandhouseholdswhobuygoodsandservicesforpersonalconsumption•AllofthesefinalconsumerscombinetomakeuptheconsumermarketGoal1:Learntheconsumermarket&constructmodelofbuyerbehavior5-4Stimulus-ResponseModelofConsumerBehaviorStimuli4P’sOthercharacteristics•economic•technological•political•culturalBuyerResponseProductchoiceBrandchoiceDealerchoicePurchasetimingPurchaseamountBuyer’sBlackBoxBuyercharacteristicsBuyerdecisionprocessGoal1:Learntheconsumermarket&constructmodelofbuyerbehavior5-5CharacteristicsAffectingConsumerBehaviorCulture•Formsaperson’swantsandbehaviorSubculture•GroupswithsharedvaluesystemsSocialClass•Society’sdivisionswhosharevalues,interestsandbehaviorsCulturalSocialPersonalPsychologicalKeyFactorsGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-6CharacteristicsAffectingConsumerBehaviorGroups•Membership•Reference–Aspirational•OpinionLeaders–BuzzmarketingFamily•ManyinfluencersRolesandStatusCulturalSocialPersonalPsychologicalKeyFactorsGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-7CharacteristicsAffectingConsumerBehaviorAgeandlifecycleOccupationEconomicsituationLifestyle•Activities,interestsandopinions•LifestylesegmentationPersonalityandself-conceptCulturalSocialPersonalPsychologicalKeyFactorsGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-8BrandPersonalityDimensionsCharacteristicsAffectingConsumerBehavior•Sincerity•Ruggedness•Excitement•Competence•SophisticationGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-9CharacteristicsAffectingConsumerBehaviorMotivationPerceptionLearningBeliefsandattitudesCulturalSocialPersonalPsychologicalKeyFactorsGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-10PsychologicalFactorsMotivation•Amotiveisaneedthatissufficientlypressingtodirectthepersontoseeksatisfaction•MotivationresearchisbasedonFreud;Looksforhiddenandsubconsciousmotivation•MasloworderedneedsbasedonhowpressingtheyaretotheconsumerGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-11PsychologicalFactorsPerception•Perceptionistheprocessbywhichpeopleselect,organize,andinterpretinformation•PerceptionIncludes:Selectiveattention•ConsumersscreenoutinformationSelectivedistortion•PeopleinterprettosupportbeliefsSelectiveretention•PeopleretainpointstosupportattitudesGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-12PsychologicalFactorsLearningLearningdescribeschangesinanindividual’sbehaviorarisingfromexperienceLearningoccursthrough:Drives•InternalstimulusthatcallsforactionStimuli•ObjectsthatmovedrivetomotiveCues•MinorstimulithataffectresponseReinforcement•FeedbackonactionGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-13PsychologicalFactorsBeliefsandAttitudesBeliefadescriptivethoughtaboutabrandorservicemaybebasedonrealknowledge,opinion,orfaithAttitudedescribesaperson’sevaluations,feelingsandtendenciestowardanobjectorideaTheyaredifficulttochangeGoal2:Knowthefourfactorsthatinfluenceconsumerbuyingbehavior5-14TypesofBuyingDecisionBehaviorComplexHighlyinvolved,significantbranddifferencesExample–computerDissonance-reducingHighlyinvolved,littlebranddifferencesExample–carpetingHabitualLowinvolvement,littlebranddifferencesExample–saltVariety-seekingLowinvolvement,significantperceivedbranddifferencesExample–cookiesGoal3:Understandtypesofbuyingdecisionsandstagesintheprocess5-15TheBuyerDecisionProcessNeedrecognitionInformationsearchEvaluationofalternativesPurchasedecisionPostpurchasebehaviorNeedscanbetriggeredby:Internalstimuli•NormalneedsbecomestrongenoughtodrivebehaviorExternalstimuli•Advertisements•FriendsoffriendsProcessStagesGoal3:Understandtypesofbuyingdecisionsandstagesintheprocess5-16TheBuyerDecisionProcessNeedrecognitionInformationsearchEvaluationofalternativesPurchasedecisionPostpurchasebehavior•Consumersexhibitheightenedattentionoractivelysearchforinformation.•Sourcesofinformation:PersonalCommercialPublicExperiential•Word-of-mouthProcessStagesGoal3:Understandtypesofbuyingdecisionsandstagesintheprocess5-17TheBuyerDecisionProcessNeedrecognitionInformationsearchEvaluationofalternativesPurchasedecisionPostpurchasebehavior•Evaluationproceduredependsontheconsumerandthebuyingsituation.•Mostbuyersevaluatemultipleattributes,eachofwhichisweighteddifferently.•Attheendoftheevaluationstage,purchaseintentionsareformed.ProcessStagesGoal3:Understandtype