UNIT 4 UNIT 4 Consumer and business to Consumer and business-to- - - PowerPoint PPT Presentation

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UNIT 4 UNIT 4 Consumer and business to Consumer and business-to- - - PowerPoint PPT Presentation

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UNIT 4 UNIT 4 Consumer and business to Consumer and business-to- business market buyer behaviour: understanding what drives understanding what drives customers and how marketers use the knowledge effectively the knowledge effectively 1

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UNIT 4 UNIT 4

Consumer and business to Consumer and business-to- business market buyer behaviour: understanding what drives understanding what drives customers and how marketers use the knowledge effectively the knowledge effectively

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Obj ti Objectives

The relationship between marketing and buyer behaviour Model of consumer buyer decision-making Consumer buying decision roles Buying decision choice sets Ways consumers evaluate alternatives y Post purchase behaviour Business Buying Behaviour

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us ess uy g e a ou

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C B i B h i Consumer Buying Behaviour

Consumer Buying Behaviour refers to the buying behaviour of final consumers - individuals & households - who buy goods and services for personal consumption. These final consumers make up the consumer market. The central question for marketers is:

– “How do consumers respond to various k ti ff t th i ht ?”

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marketing efforts the company might use?”

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M d l f B B h i Model of Buyer Behaviour

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Factors Influencing Consumer Behaviour g

Social

  • Household type
  • Reference groups

Psychological Moti ation Personal

  • Age & lifecycle stage
  • Occupation

Reference groups

  • Roles & status
  • Motivation
  • Perception
  • Learning (memory)
  • Beliefs & attitudes

P lit & Occupation

  • Education
  • Economic situation
  • Personality &

self-concept Buyers’ responses

  • Product service &

category selection Consumer BUYER DECISION g y

  • Brand selection
  • Reseller selection
  • Purchase timing &

repurchase intervals Marketing programs

  • Marketing objectives
  • Marketing strategy

BUYER DECISION PROCESS Lifestyle Experiences Cultural

  • Culture

p

  • Purchase amount

Marketing strategy

  • Marketing mix

Environmental influences E i

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  • Culture
  • Subculture
  • Social Class
  • Economic
  • Technological
  • Political

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Factors Influencing acto s ue c g Consumer Behaviour

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Factors Affecting Consumer acto s ect g Co su e Behaviour: Culture

Culture is the Most Basic Cause of a Person's Wants and Behavior.

Subculture

  • Groups of people with shared

Wants and Behavior.

  • Groups of people with shared

value systems based on common life experiences.

  • Hispanic Consumers

Hispanic Consumers

  • African American Consumers
  • Asian American Consumers

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  • Mature Consumers

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Factors Affecting Consumer acto s ect g Co su e Behaviour: Culture

Social Class Social Class

  • Society’s relatively permanent &
  • rdered divisions whose members

share similar values interests share similar values, interests, and behaviours.

  • Measured by a Combination of:

Occupation Income Education Occupation, Income, Education, Wealth and Other Variables.

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Factors Affecting Consumer acto s ect g Co su e Behaviour: Social

Groups Membership, Reference, Family p, ,

  • r Aspirational

Most Important Consumer Buying Organization Roles and Status

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Factors Affecting Consumer acto s ect g Co su e Behaviour: Personal

Personal Influences

Age and Life Cycle Stage Occupation Personality & Self Concept Economic Situation Cycle Stage p Self-Concept Situation

Lifestyle Identification

Activities Interests

Lifestyle Identification

O i i

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Activities Interests Opinions

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Factors Affecting Consumer Factors Affecting Consumer Behavior: Psychological

Motivation Psychological Factors Affecting Buyers Perception Beliefs and Attitudes Choices

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Learning

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M l ’ Hi h f N d Maslow’s Hierarchy of Needs

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B D i i P Buyer Decision Process

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Buyer Decision Process uye ec s o

  • cess

Step 1. Need Recognition

Buyer Internal Stimuli – External Stimuli- Recognises a Problem Hunger Friends Problem

  • r a

Need Arising Arising From:

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The Buyer Decision Process e uye ec s o

  • cess

Step 2. Information Search

  • Family, friends, neighbors
  • Most effective source of

i f ti

Personal Sources

information

  • Advertising, salespeople
  • Receives the most information

from these sources

Commercial Sources

from these sources

  • Mass Media
  • Consumer-rating groups

Public Sources

  • Handling the product
  • Examining the product
  • Using the product

Experiential Sources

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  • Using the product

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The Buyer Decision Process The Buyer Decision Process

Step 3. Evaluation of Alternatives

Consumer May Use Careful Calculations & Logical Thinking Consumer May Use Careful Calculations & Logical Thinking Consumers May Buy on Impulse and Rely on Intuition Consumers May Buy on Impulse and Rely on Intuition Consumers May Make Buying Decisions

  • n Their Own

Consumers May Make Buying Decisions

  • n Their Own

Consumers May Make Buying Decisions Consumers May Make Buying Decisions Consumers May Make Buying Decisions Only After Consulting Others Consumers May Make Buying Decisions Only After Consulting Others

Marketers Must Study Buyers to Find Out

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Marketers Must Study Buyers to Find Out How They Evaluate Brand Alternatives

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Types of Buying Decisions Types of Buying Decisions

Hi h L

Complex V i t

High Involvement Significant Low Involvement

Complex Buying Behaviour Variety- Seeking Behaviour

g differences between brands

Dissonance- Habitual

Few differences

Reducing Buying Behaviour ab tua Buying Behaviour

differences between brands

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B i D i i Buying Decisions

Total Set - All potential products & services that might satisfy wants and needs. that might satisfy wants and needs. Awareness Set - Alternatives that the consumer is aware of Evoked (Choice) Set - Alternatives considered by consumers y Inept Set Inert Set

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The Buyer Decision Process The Buyer Decision Process

Step 4. Purchase Decision

Purchase Intention

Desire to buy the most preferred brand Desire to buy the most preferred brand

Unexpected Attitudes Unexpected Situational Factors Attitudes

  • f Others

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Purchase Decision

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The Buyer Decision Process The Buyer Decision Process

Step 5. Postpurchase Behaviour

Satisfied Customer!

e

Consumer’s Expectations of Product’s Performance

issonance

Expectations of Product s Performance Product’s Perceived Performance

gnitive Di

Dissatisfied Customer

Cog

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Dissatisfied Customer

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Using the decision making process model, trace a recent purchase each of you have trace a recent purchase each of you have

  • made. Be sure to examine each of the five

stages of the buyer decision process and detail your experiences in each stage detail your experiences in each stage. What could the seller have done to make your buying experience better? your buying experience better? Did you experience any cognitive dissonance? Explain.

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Stages in the Adoption Stages t e dopt o Process

Awareness: Consumer becomes aware of the new

product, but lacks information about it.

Interest: Consumer seeks information about new

product.

Evaluation: Consumer considers whether trying the Evaluation: Consumer considers whether trying the

new product makes sense.

Trial: Consumer tries new product on a small scale to

improve his or her estimate of its value.

Adoption: Consumer decides to make full and regular

use of the new product

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use of the new product.

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Ad t C t i Adopter Categories

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Influence of Product Characteristics Influence of Product Characteristics

  • n Rate of Adoption

Communicability

Can results be easily

  • bserved or described

Communicability

Can results be easily

  • bserved or described

Relative Advantage

Is the innovation

Relative Advantage

Is the innovation

  • bserved or described

to others?

  • bserved or described

to others? superior to existing products? superior to existing products?

Divisibility

Can the innovation be used on a

Divisibility

Can the innovation be used on a

Compatibility

Does the innovation fit the values and

Compatibility

Does the innovation fit the values and be used on a limited basis? be used on a limited basis?

Complexity

Is the innovation

Complexity

Is the innovation fit the values and experience of the target market? fit the values and experience of the target market?

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difficult to understand or use? difficult to understand or use?

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R i i th C t Reviewing the Concepts

Understand the consumer market and the major j factors that influence consumer buyer behaviour. Identify and discuss the stages in the buyer y g y decision process. Describe the adoption and diffusion process for new products.

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