Académique Documents
Professionnel Documents
Culture Documents
MODULE 4
Consumer Market Consumer Market individuals and households who buy goods and services for personal consumption Consumer Buyer Behavior refers to the buying behavior of final consumers
Factors Affecting Consumer Behavior Cultural Factor - Culture - Forms a persons wants and behavior - Subculture - Groups with shared value systems - Social Class - Societys divisions who share values, interests and behaviors
3
Factors Affecting Consumer Behavior Social Factor - Groups - Membership - Reference - Opinion Leaders - Family - Many influencers - Roles and Status
4
Factors Affecting Consumer Behavior Personal Factor Age and life cycle Occupation Economic situation Lifestyle Personality and self-concept
Factors Affecting Consumer Behavior Psychological Factor - Motivation - Perception - Learning - Beliefs and attitudes
10
11
12
Business Markets
Business Markets consist of all organizations that acquire goods and services used in the production of other parts or services that are sold, rented, or supplied to others. Business Buyer Behavior - The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others. 13
Business Buyer Behavior Major Types of Buying Situations - Straight rebuy - Reordering without modification - Modified rebuy - Requires modification to prior purchase - New task - First-time purchase
16
18
Stages in the Business Buying Process Stage 1: Problem Recognition Stage 2: General Need Description Stage 3: Product Specification - Value analysis helps to reduce costs Stage 4: Supplier Search - Supplier development
19
Stages in the Business Buying Process Stage 5: Proposal Solicitation Stage 6: Supplier Selection Stage 7: Order-Routine Specification - Blanket contracts are often used for maintenance, repair and operating items. Stage 8: Performance Review
20
End of Module 4
21