5 | 2Copyright © Houghton Mifflin Company. All rights reserved. Part Three Markets and Consumer Behavior

Download 5 | 2Copyright © Houghton Mifflin Company. All rights reserved. Part Three Markets and Consumer Behavior

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<ul><li>Slide 1</li></ul> <p> Slide 2 5 | 2Copyright Houghton Mifflin Company. All rights reserved. Part Three Markets and Consumer Behavior Slide 3 Chapter 5 Consumer Buying Behavior Slide 4 5 | 4Copyright Houghton Mifflin Company. All rights reserved. Objectives Understand consumers level of involvement with product &amp; describe consumer problem- solving processes Recognize stages of consumer buying decision process Explore situational influences of consumer buying process Understand psychological influences of consumer buying process Examine social influences of consumer buying process Slide 5 5 | 5Copyright Houghton Mifflin Company. All rights reserved. Types Of Markets 1)Consumer 2)Business Slide 6 5 | 6Copyright Houghton Mifflin Company. All rights reserved. Consumer Market Purchasers and household members who intend to consume or benefit from the purchased products and do not buy products to make products. Slide 7 5 | 7Copyright Houghton Mifflin Company. All rights reserved. Buying Behavior The decision processes and acts of people involved in buying and using products. Slide 8 5 | 8Copyright Houghton Mifflin Company. All rights reserved. Consumer Buying Behavior The decision processes and purchasing activities of people who purchase products for personal or household use and not for business purposes. Slide 9 5 | 9Copyright Houghton Mifflin Company. All rights reserved. Level Of Involvement An individuals intensity of interest in a product and the importance of the product for that person. Slide 10 5 | 10Copyright Houghton Mifflin Company. All rights reserved. Levels Of Involvement Enduring Situational Slide 11 5 | 11Copyright Houghton Mifflin Company. All rights reserved. Consumer Problem Solving Slide 12 5 | 12Copyright Houghton Mifflin Company. All rights reserved. Routinized Response Behavior The consumer problem-solving process used when purchasing frequently purchased, low-cost items needing very little search-and-decision effort. Slide 13 5 | 13Copyright Houghton Mifflin Company. All rights reserved. Limited Problem Solving The consumer problem-solving process employed when buying occasionally or when they need to obtain information about an unfamiliar brand in a familiar product category. Slide 14 5 | 14Copyright Houghton Mifflin Company. All rights reserved. Extended Problem Solving A consumer problem-solving process employed when purchasing unfamiliar, expensive, or infrequently bought products. Slide 15 5 | 15Copyright Houghton Mifflin Company. All rights reserved. Impulse Buying An unplanned buying behavior resulting from a powerful urge to buy something immediately. Slide 16 5 | 16Copyright Houghton Mifflin Company. All rights reserved. Consumer Buying Decision Process A five-stage purchase decision process that includes problem recognition, information search, evaluation of alternatives, purchase, and postpurchase evaluation. Slide 17 5 | 17Copyright Houghton Mifflin Company. All rights reserved. Consumer Buying Decision Process/Possible Influences on the Process Slide 18 5 | 18Copyright Houghton Mifflin Company. All rights reserved. Problem Recognition Difference between desired state and actual condition. Slide 19 5 | 19Copyright Houghton Mifflin Company. All rights reserved. Aspects Of Information Search Internal Search External Search Slide 20 5 | 20Copyright Houghton Mifflin Company. All rights reserved. Internal Search An information search in which buyers search their memories for information about their products that might solve their problem. Slide 21 5 | 21Copyright Houghton Mifflin Company. All rights reserved. External Search An information search in which buyers seek information from sources other than memory. Slide 22 5 | 22Copyright Houghton Mifflin Company. All rights reserved. Evaluation Of Alternatives Consideration Set Evaluative Criteria Framing Alternatives Slide 23 5 | 23Copyright Houghton Mifflin Company. All rights reserved. Cognitive Dissonance A buyers doubts shortly after a purchase about whether the decision was the right one. Sample ads of cognitive dissonance Slide 24 5 | 24Copyright Houghton Mifflin Company. All rights reserved. Situational Influences Influences resulting from circumstances, time, and location that affect the consumer buying decision process. Slide 25 5 | 25Copyright Houghton Mifflin Company. All rights reserved. Categories Of Situational Factors Physical Surroundings Social Surroundings Time Perspective Reason For Purchase Buyers Mood/Condition Slide 26 5 | 26Copyright Houghton Mifflin Company. All rights reserved. Psychological Influences Factors that in part determine peoples general behavior, thus influencing their behavior as consumers. Slide 27 5 | 27Copyright Houghton Mifflin Company. All rights reserved. Types Of Perception Information Inputs Selective Exposure Selective Distortion Selective Retention Slide 28 5 | 28Copyright Houghton Mifflin Company. All rights reserved. Motives An internal energizing force that directs a persons behavior toward satisfying needs or achieving goals. Motive for buying organic foods Slide 29 5 | 29Copyright Houghton Mifflin Company. All rights reserved. Maslows Hierarchy Of Needs Slide 30 5 | 30Copyright Houghton Mifflin Company. All rights reserved. Sources Of Learning Behavior Consequences Information Processing Experience Slide 31 5 | 31Copyright Houghton Mifflin Company. All rights reserved. Attitude An individuals enduring evaluation of feelings about and behavioral tendencies toward an object or idea. Slide 32 5 | 32Copyright Houghton Mifflin Company. All rights reserved. Components Of Attitude Cognitive- knowledge or information Affective- feelings or emotions Behavioral- actions regarding object or idea Slide 33 5 | 33Copyright Houghton Mifflin Company. All rights reserved. Personality And Self-Concept Personality internal traits and behavioral tendencies Self-Concept perception or view of oneself Slide 34 5 | 34Copyright Houghton Mifflin Company. All rights reserved. Lifestyle An individuals pattern of living expressed through activities, interests, and opinions. Consumer lifestyles Slide 35 5 | 35Copyright Houghton Mifflin Company. All rights reserved. Lifestyle Affected By: Age Education Income Social Class Slide 36 5 | 36Copyright Houghton Mifflin Company. All rights reserved. Role Actions and activities that a person in a particular position is supposed to perform based on expectations of the individual and surrounding persons. Slide 37 5 | 37Copyright Houghton Mifflin Company. All rights reserved. Consumer Socialization The process through which a person acquires the knowledge and skills to function as a consumer. Slide 38 5 | 38Copyright Houghton Mifflin Company. All rights reserved. Types Of Family Decisionmaking Slide 39 5 | 39Copyright Houghton Mifflin Company. All rights reserved. Reference Group A group that a person identifies with so strongly that he or she adopts the values, attitudes, and behavior of group members. Volvo and womens market Slide 40 5 | 40Copyright Houghton Mifflin Company. All rights reserved. Types Of Reference Groups 1.Membership 2.Aspirational 3.Disassociative Slide 41 5 | 41Copyright Houghton Mifflin Company. All rights reserved. Opinion Leader A member of an informal group who provides information about a specific topic to other group members. Slide 42 5 | 42Copyright Houghton Mifflin Company. All rights reserved. Examples Of Opinion Leaders And Topics Slide 43 5 | 43Copyright Houghton Mifflin Company. All rights reserved. Social Class An open group of individuals with similar social rank. Slide 44 5 | 44Copyright Houghton Mifflin Company. All rights reserved. Social Class Behavioral Traits/Purchasing Characteristics Slide 45 5 | 45Copyright Houghton Mifflin Company. All rights reserved. Culture The accumulation of values, knowledge, beliefs, customs, objects, and concepts of a society. Slide 46 5 | 46Copyright Houghton Mifflin Company. All rights reserved. Subcultures A group of individuals whose characteristic values (religion, etc.) and behavior patterns are similar and different from those of the surrounding culture.religion Slide 47 5 | 47Copyright Houghton Mifflin Company. All rights reserved. U.S. Ethnic Subcultures African American Hispanic Asian American </p>

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