Chapter 10 Consumer buying behaviour model Learning Objectives

Chapter 10 Consumer buying behaviour model

Learning Objectives 1. Explain why marketing managers should understand consumer behavior. 2. Analyze the components of the consumer decision-making process. 3. Explain the consumer’s postpurchase evaluation process. 2

Learning Objectives (continued) 4. Identify the types of consumer buying decisions and discuss the significance of consumer involvement. 5. Identify and understand the cultural factors that affect consumer buying decisions. Chapter 4 Version 3 e 3

Learning Objectives (continued) 6. Identify and understand the social factors that affect consumer buying decisions. 7. Identify and understand the individual factors that affect consumer buying decisions. 8. Identify and understand the psychological factors that affect consumer buying decisions. 4

Learning Objective Explain why marketing managers should understand consumer behavior. 5

Consumer Behavior Processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and the product use. 6

Learning Objective Analyze the components of the consumer decision-making process. 7

2 Consumer Decision-Making Process A five-step process used by consumers when buying goods or services. Chapter 4 Version 3 e 8

Consumer Decision-Making Process Need Recognition Cultural, Social, Individual and Psychological Factors affect all steps Information Search Evaluation of Alternatives Purchase Postpurchase Behavior Chapter 4 Version 3 e 9

Need Recognition Result of an imbalance between actual and desired states. 10

Need Recognition Marketing helps consumers recognize an imbalance between present status and preferred state Internal Stimuli and External Stimuli Preferred State Present Status 11

Stimulus Any unit of input affecting one or more of the five senses: Øsight Øsmell Øtaste Øtouch Øhearing 12

Want Recognition of an unfulfilled need and a product (or attribute or feature) that will satisfy it. 13

Recognition of Unfulfilled Wants • When a current product isn’t performing properly • When the consumer is running out of an product • When another product seems superior to the one currently used 14

Information Searches Internal Process of recalling past information stored in the memory. External Process of seeking information in the outside environment. 15

Information Search Internal Information Search u Recall information in memory External Information search u Seek information in outside environment u u Non-marketing controlled Marketing controlled 16

External Information Searches Need Less Information Need More Information Less Risk More knowledge More product experience Low level of interest More Risk Less knowledge Less product experience High level of interest 17

Evoked Set 2 Group of brands, resulting from an information search, from which a buyer can choose. 18

Evaluation of Alternatives Evoked Set Evaluation of Products Analyze product attributes Use cutoff criteria Rank attributes by importance Purchase! 19

Purchase To buy or not to buy. . . Chapter 4 Version 3 e 2 Determines which attributes are most important in influencing a consumer’s choice 20

Learning Objective Explain the consumer’s postpurchase evaluation process. 21

Cognitive Dissonance Inner tension that a consumer experiences after recognizing an inconsistency between behavior and values or opinions. 22

Postpurchase Behavior ? Cognitive Dissonance Did I make a good decision? Did I buy the right product? Did I get a good value? 23 Can minimize through: Effective Communication Follow-up Guarantees Warranties