6 Analyzing Consumer Markets Marketing Management A South
- Slides: 40
6 Analyzing Consumer Markets Marketing Management A South Asian Perspective, 13 th ed
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? Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -2
Tata Steel used steeljunction® to encourage consumers to go steel shopping and to develop deeper understanding of individual and household customers. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -3
What Influences Consumer Behavior? Cultural Factors Social Factors Personal Factors Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -4
What is Culture? Culture is the fundamental determinant of a person’s wants and behaviors acquired through socialization processes with family and other key institutions. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -5
Subcultures Nationalities Religions Racial groups Geographic regions Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -6
Social Classes Upper uppers Lower uppers Upper middles Middle class Working class Upper lowers Lower lowers Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -7
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 Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -8
Social Factors Reference groups Family Social roles Statuses Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -9
Reference Groups Membership groups Primary groups Secondary groups Aspirational groups Dissociative groups Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -10
Provogue uses teenage icons as brand ambassadors and a youth targeted website to connect to its customers Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -11
Radio Shack Targets Women with Female Store Managers Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -12
Roles and Status What degree of status is associated with various occupational roles? Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -13
Personal Factors Age Selfconcept Life cycle stage Lifestyle Occupation Values Wealth Personality Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -14
The Family Life Cycle Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -15
Brand Personality Sincerity Excitement Competence Sophistication Ruggedness Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -16
Lifestyle Influences Multi-tasking Time-starved Money-constrained Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -17
Faysal Bank of Pakistan has extended banking hours for time-pressed executives. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -18
Table 6. 2 LOHAS (Lifestyles of Health and Sustainability) Market Segments • • • Sustainable Economy Healthy Lifestyles Ecological Lifestyles Alternative Health Care Personal Development Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -19
Figure 6. 1 Model of Consumer Behavior Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -20
Key Psychological Processes Motivation Perception Learning Memory Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -21
Motivation Freud’s Theory Maslow’s Hierarchy of Needs Herzberg’s Two-Factor Theory Behavior is guided by subconscious motivations Behavior is driven by the lowest, unmet need Behavior is guided by motivating and hygiene factors Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -22
Maslow’s Hierarchy of Needs Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -23
Herzberg’s Two-Factor Theory Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -24
Perception Selective Attention Selective Retention Selective Distortion Subliminal Perception Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -25
Figure 6. 3 State Farm Mental Map Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -26
Figure 6. 4 Consumer Buying Process Problem Recognition Information Search Evaluation Purchase Decision Postpurchase Behavior Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -27
Problem Recognition Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -28
Sources of Information Personal Commercial Public Experiential Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -29
Figure 6. 5 Successive Sets Involved in Consumer Decision Making Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -30
Table 6. 8 Sales and Product Life Cycle Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -31
Figure 6. 6 Stages between Evaluation of Alternatives and Purchase Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -32
Non-Compensatory Models of Choice • Conjunctive • Lexicographic • Elimination-by-aspects Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -33
Perceived Risk Functional Physical Financial Social Psychological Time Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -34
Figure 6. 7 How Customers Use and Dispose of Products Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -35
Rural Consumer Behaviour • Rural consumers are more brand loyal • Restrictions on consumption • Collective consumption behaviour: for family rather than individual • Seasonality of consumption based on seasonality of agricultural production/income • Specific patterns in the five-stage buying decision process Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -36
Other Theories of Consumer Decision Making Involvement • Elaboration Likelihood Model • Low-involvement marketing strategies • Variety-seeking buying behavior Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. Decision Heuristics • Availability • Representativeness • Anchoring and adjustment 6 -37
Mental Accounting • Consumers tend to… • Segregate gains • Integrate losses • Integrate smaller losses with larger gains • Segregate small gains from large losses Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -38
Marketing Debate ü Is target marketing ever bad? Take a position: 1. Targeting minorities is exploitive. or 2. Targeting minorities is a sound business practice. Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -39
Marketing Discussion ü Do you have rules you employ in spending money? ü Do you follow Thaler’s four principles in reacting to gains and losses? Copyright © 2009 Dorling Kindersley (India) Pvt. Ltd. 6 -40
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