Consumer Behavior Psychology Definition Consumer buyer behavior refers
Consumer Behavior & Psychology
Definition �Consumer buyer behavior refers to the buying behavior of final consumers- individuals and households that buy goods for consumption. Kotler �All these final consumers make up the consumer market
Model of Consumer Behaviour �How do consumers respond to various marketing efforts the company might use?
Characteristics Affecting Consumer behaviour
Social Factors �Groups �Family �Roles & Status
Personal Factors �Age & life-cycle stage �Occupation �Economic situation �Lifestyle �Personality & self concept
Psychological Factors �Motivation �Perception �Learning �Beliefs & Attitudes
Types of Buying Decision Behaviour
Complex Buying Behaviour Type of Product • Expensive • Risky • Purchased infrequently • Highly self-expressive Brand eg: Electronics � Must understand the information gathering and evaluation behaviour of buyers � Need to help buyers learn about the product –class, attributes and relative importance � Describe benefits – Print media � Motivate stores sales people and buyers acquaintance to influence the final brand choice
Dissonance-reducing Buying Behaviour Type of product • Expensive • Risky • Purchased infrequently • Highly self-expressive Brand � Provide a good price � Offer convenience eg; Carpets, Furniture � Mitigate dissonance - provide after sales communication with evidence and support to help consumers feel good about there product
Habitual Buying Behaviour Type of product • In expensive • Frequently Purchased • Familiar/ loyal Brand � Provide a good price eg; personnel care products � Offer Promotions � Create top of mind – use colors symbols (TV led advertising)
Variety Seeking Buying Behaviour Type of product • In expensive • Frequently Purchased • Familiar • Large choice/variety Brand � Market Leader – create habitual behaviour eg; confectionary � Dominating shelf space � Stocking up � Reminder advertisements � Challengers � Offers lower price/special deals � Coupons, samples � Advertising that presence reason for trying something new
The Buyer Decision Process
The Buyer Decision Process for New Products Consumer go through five stages in the process of adopting a new product: �Awareness �Interest �Evaluation �Trial �Adoption
Zero Moment of Truth
Individual Differences in Innovativeness Marketing efforts in innovation
Influence of Product Characteristics on Rate of Adoption �Relative advantage �Compatibility �Complexity �Divisibility �Communicability
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