Consumer Behavior Kirstin Samuels Final Consumers vs Business

Consumer Behavior Kirstin Samuels

Final Consumers vs. Business Consumers Final Consumer A Final Consumer uses the product Business Consumer A Business Consumer buys things to use in their own products • Retail Stores, Clothing • Raw Materials • Products manufactured for a user

Hierarchy of Needs college Running for student council Clothing Insuranc e Housing Self To realize your potential Actualizatio n Esteem Social Security Physiological Respect and Recognition Friends loving belonging Physical safety and economic security Food, sleep, water, shelter, air

Buying Motives Emotional Rational Patronage Reason to purchase based on feelings, beliefs, or attitude Reason to buy based on facts and logic • Saving time/money • Highest quality/ greatest value • Important with expensive purchases Reason to buy based on loyalty • To purchase from a particular business or brand • Hallmark Greeting Cards • • • Chevy and Ford • Apple and Android • Coke and Pepsi Computer system College Car House

Consumer Decision-making Process Consumer gathers information on alternatives Problem recognitio n Informatio n Research When customer recognizes a problem, need, or desire Agreeing with the business selling the product on what you will buy, the cost, payment method and how you will receive the product Alternativ e Evaluatio n Purchase Post purchase evaluation When you use the service you discover if it works or not, and if it was what you were looking Evaluate the various alternatives, which one fits for best

Example of Costumer decision-making process Problem Recognition • Need a car Information Research • Look at several cars that may contain utilities you need or want Evaluate Alternatives • Compare the cars you have researched, like the price, how many miles, does it have what you need? Purchase Come up with a payment plan with the dealership Post Purchase Evaluation Make sure the car functions properly

Individual Characteristics ( Demographics) Personalit y Gender Ethnicity Age • Attitude, lifestyle and Self-concept • Clothing and social activities • Men and Women • Hardware supplies are targeted towards men • Coach is directed towards women • Ancestry, country of origin, language, and tradition • Food • Huge influence • American Eagle targets adolescents • Justice targets young girls

Types of Decision-making Routine Decisionmaking Limited Decisionmaking Extensive Decisionmaking Purchased that are made Takes more time, often frequently and do not with more expensive require much thought items or items purchased less frequently Occurs when the consumer methodically goes through all five steps of the decision making process Basic necessities -toilet paper A Car Jeans - often will go and try several pair on and compare them