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Consumer MarketsPurchasers and individuals in households
Purchases are for personal consumption, not profit
Business MarketsIndividuals and groups that purchase
products for resale, direct use to produce other products, or use in daily business
operations
Purchasers classed as producers, resellers, government, and institutional
markets
• Buying Behavior– The decision processes and acts of people
involved in buying and using products
• Consumer Buying Behavior– Buying behavior of people who
purchase products for personal use and not for business purposes
What Influences Consumer Behavior?
Cultural FactorsCultural Factors
Social FactorsSocial Factors
Personal FactorsPersonal Factors
Subcultures
Nationalities Nationalities
ReligionsReligions
Racial groupsRacial groups
Geographic regionsGeographic regions
Social Classes
Upper uppersLower uppersUpper middlesMiddle class
Working classUpper lowersLower lowers
Motivation
Freud’sTheory
Behavioris guided by subconsciousmotivations
Maslow’sHierarchyof Needs
Behavioris driven by the lowest, unmet need
Herzberg’sTwo-Factor
Theory
Behavior isguided by motivating
and hygienefactors
LearningChanges in an individual’s thought processes and behavior caused by information and experienceBehaviors that produce satisfying consequences are likely to be repeated.
Consumers learn about products byexperiencing the products personally.gaining additional product knowledge from seller-provided information.indirect information from other purchasers/users
Level of Involvement and Consumer Problem-Solving
Processes• Level of Involvement
– An individual’s intensity of interest in a product and the importance of the product for that person
• Routinized Response Behavior– The process used when buying frequently
purchased, low-cost items that require little search-and-decision effort
• Limited Problem Solving– The process that buyers use when purchasing
products occasionally or when they need information about an unfamiliar brand in a familiar product category
• Extended Problem Solving– The process employed when purchasing
unfamiliar, expensive, or infrequently bought products
• Impulse Buying– An unplanned buying behavior resulting from
a powerful urge to buy something immediately
Consumer Buying Process
Problem Recognition
Information Search
Evaluation
Purchase Decision
PostpurchaseBehavior
Consumer Buying Decision Process• Problem Recognition
– Occurs when a buyer becomes aware of a difference between a desired state and an actual condition
– May occur rapidly or slowly
• Information Search– Internal search
• Buyers search their memories for information about products that might solve their problem
– External search• Buyers seek information from outside sources
• Evaluation of Alternatives– Consideration set
• A group of brands that the buyer views as alternatives for possible purchase
– Evaluative criteria• Objective and subjective characteristics that are
important to a buyer
– Framing the alternatives• Describing the alternatives and their attributes in a
certain manner to make a particular characteristic appear more important especially to the inexperienced buyer
• Purchase– Choosing the product or brand to be bought
based on the outcome of the evaluation stage– The choice of seller may affect the final
product selection.– Factors such as terms of sale, price, delivery,
and warranties may affect the sale.