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Consumer Buying Behavior

Prof. Jayahree Vispute

05/05/12

Prof Jayashree Vispute

Learning Objectives
Understand

the major factors influencing consumer behavior Know and recognize the types of buying decision behavior Understand the stages in the buying decision process

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Prof Jayashree Vispute

you are what you buy

The field of Consumer Behavior: studies how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires.
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Consumer Behavior . . .
. . . is defined as the study of the buying units and the exchange processes involved in acquiring, consuming, and disposing of goods, services, experiences, and ideas.
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Why study consumer behavior?


Consumer

decisions are affected by the behavior. Foundation of Marketing Management - Product policies, price policies, distribution policies, promotion policies MARKETING STARTS WITH NEEDS OF THE CUSTOMER & ENDS WITH NEED SATISFACTION.
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What is a Market?
The

set of actual and potential buyers of a product. people share a need or want that can be satisfied through exchange relationships.
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These

Two Types of Markets:


Consumer Business

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Consumer Market
Consists of all the individuals and households who buy or acquire goods and services for personal consumption.

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Factors Influencing Consumer Behavior


Personal Social Cultural Psychological

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Personal Factors
Age Life-Cycle

Stage

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Stages in Family LifeCycle


Example of life cycle stages: 1. Single 2. Newly Married Couples 3. Solitary Survivor 4. Solitary Survivor, Retired

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Personal Factors
Age Life-Cycle

Stage Occupation Economic Circumstances Life Style

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Psychographic analysis is . . .
. . . the attempt to measure the life-styles of consumers.

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Lifestyle

refers to the way people live, how they spend their time and money, what activities they pursue, and what their attitudes and opinions are about the world they live in.

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Psychological Factors
Wants
Based on a want or desire to have something. Not a necessity.

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Psychological Factors
Motivation: Freud
Id Ego Super Ego

Maslow
Hierarchy of Needs

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Freuds Psychoanalytic Theory


Personality results from the clash of 3 forces - the id, the ego, and the superego The id represents physiological drives The ego acts to curb the appetites of the id The superego is the conscience or voice within
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Maslows Hierarchy of Needs


Different types of needs drive behaviour to satisfy those needs in an order of precedence Most basic needs fulfilled first

SelfActualization Esteem Social Safety Physiological

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Psychological Factors
Motivation Perception

The process by which an individual selects, organizes, and interprets inputs to create a meaningful picture of the world.
Selective Exposure Selective Distortion Selective Retention

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Selective

Exposure-selects inputs to be exposed to our awareness. (sharp price drop). Selective Distortion Changing/twisting current received comparative ads Selective Retentionremember inputs that support beliefs, forgets those that dont.
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Psychological Factors
Motivation Perception Learning

Changes in an individuals behavior arising form experience

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Psychological Factors
Motivation Perception Learning Beliefs

Descriptive thoughts that a person holds about something

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Psychological Factors
Motivation Perception Learning Beliefs Attitudes

Enduring favorable or unfavorable cognitive evaluations emotional feelings and action tendencies
Individuals

learns attitudes through experience and interaction with other people. Consumer attitudes toward a firm and its products greatly influence the success or failure of the firms marketing strategy.
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Functional Factors
Needs
Need over wants. Delivers to a real need to have something.

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Social Class
Relatively homogenous, enduring divisions in a society, hierarchically ordered with members sharing similar values, interests, and behaviors.

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Family Influence on Buying Behavior


Husband-Dominant Wife-Dominant Equal

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Culture & Subcultures


Cultures

The accumulation of values, knowledge, beliefs, customs, objects, and concepts that a society uses to cope with its environment
Subcultures

Groups of individuals who have similar value and behavior patterns within the group but differ from those in other groups.

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Examples of Buying Motives: Psychological or Functional?

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Examples of Buying Motives: Psychological or Functional?


A

senior wants to impress his junior at the Welcome party . His primary motive is ?

Psychological
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Examples of Buying Motives: Psychological or Functional?


A

girl wants to remember her grandmother on her birthday. Her primary motive is?

Psychological
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Examples of Buying Motives: Psychological or Functional?


A

homemaker needs a new washing machine and has had good experiences with Sears.
Her primary motive is ?

Functional
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Examples of Buying Motives: Psychological or Functional?


A

teacher wants to buy a practical car to be used for family transportation. Her/His primary motive is ?

Functional
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Examples of Buying Motives: Psychological or Functional?


A

career woman always buys Allen Solly clothes. Her primary motive is?

Psychological
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Examples of Buying Motives: Psychological or Functional?


An

overweight 40 year old man wants to loose weight so that he can reduce his blood pressure. His primary motive is?

Functional
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Examples of Buying Motives: Psychological or Functional?


A

homeowner needs to mow their lawn. Their primary motive is?

Functional
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Consumer Buying Behavior Competency


Functional Motive
The price is 40 cents off the regular price. It never needs ironing.

Psychological Motive

Diamonds are forever. Serving you since 1971.

Ninety-day warranty.

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Consumer Buying Behavior Competency


Functional Motive
Running shoe with builtin arch. Its all the ragecolored action wear and style. Wheatiesthe breakfast of champions! Steel-belted radial tires warranted for 40,000 miles A watcha gift she will treasure always.

Psychological Motive

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Consumer Buying Decision Process


Problem Recognition Information Search Evaluation of Alternatives

Purchase Decision

Post-Purchase Evaluation

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Consumer Decision-Making Process

Problem Recognition Information Search Evaluation of Alternatives

Purchase Decision Postpurchase Evaluation

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Consumer Decision-Making Process


Need Recognition Need Recognition Information Search Information Search Evaluation Evaluation of Alternatives of Alternatives Purchase Purchase Postpurchase Postpurchase Behavior Behavior
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Cultural, Social, Cultural, Social, Individual and Individual and Psychological Psychological Factors Factors affect affect all steps all steps

Types of Buying Behavior


Level

of involvement is an individuals intensity of interest in a product and the importance he or she places on a product. Consumers go through a problem-solving process. The 4 types of Problem-Solving are: Routine Response Limited Decision Extension Decision Impulse Buying
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Routine Response
1.Routine

Response buying that requires very little search and decision effort; it is used for products that are low priced and bought frequently. Examples include soft drinks, snack foods, milk, etc.

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Limited Decision
Buyers use when they purchase products occasionally or need information about unfamiliar brands in a familiar product category; it requires a moderate amount of time for information gathering and deliberation. Examples include Clothesknow product class but not the brand.
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Extensive Decision
Extensive Decision employed when unfamiliar, expensive, or infrequently bought products (such as homes, automobiles and furniture) are purchased; buyers used many criteria to evaluate brands and spend more time searching for information and deciding on the purchase.
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Impulse Buying
Impulse Buying unplanned buying behavior involving powerful urge to buying something immediately. A lot of impulse decisions are made at the checkout area and can be on items such as candy, sodas, batteries, film, etc.

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Types of consumer involvement and decision making


Routine
Involvement Time Cost Information Search Number of alternatives Short Low Short Internal only one

Limited
Low to moderate Short to moderate Low to moderate Mostly internal few

Extensive
High Long High Internal & external many

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Need Recognition
Marketing helps consumers recognize (or create) an imbalance between present status and preferred state When a current product isnt performing properly When the consumer is running out of an product When another product seems State Preferred superior to the one currently used

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Information Search
Two ways of gathering information: 1. Internally 2. Externally
Types of info sources: Commercial Public Personal Experiential

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The information search stage


An internal search involves the scanning of one's memory to recall previous experiences or knowledge concerning solutions to the problem-- often sufficient for frequently purchased products. An external search may be necessary when past experience or knowledge is insufficient, the risk of making a wrong purchase decision is high, and/or the cost of gathering information is low.

Personal sources (friends and family) Public sources (rating services like Consumer Reports) Marketer-dominated sources (advertising or sales people)

The evoked
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set: a group of
50

brands from which the buyer can choose


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The Purchase Decision


Decision to purchase a particular product may be based on several factors: Attitudes of Others Unexpected Situational Factors other factors influence the Purchase Decision?
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What

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Postpurchase Behavior
Cognitive Dissonance
Can minimize through:

Did I make a good decision? Did I buy the right product? Did I get a good value?

Effective Communication Follow-up Guarantees Warranties Underpromise & overdeliver

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Sour Grapes a story of cognitive dissonance

after being unable to reach the grapes the fox said, these grapes are probably sour, and if I had them I would not eat them. --Aesop

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Cognitive Dissonance
psychological discomfort caused by inconsistencies among a persons beliefs, attitudes, and actions varies in intensity based on importance of issue and degree of inconsistency induces a drive state to avoid or reduce dissonance by changing beliefs, attitudes, or behaviors and thereby restore consistency

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Consumer Buying Behavior

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